CredSCF Product Update: December, 2021

CredAvenue remains committed to innovation and making the platform as hassle-free and as user-friendly as possible. With the advancements in the supply chain financing industry, we have also upgraded our offering in line to keep up with the changing trends in the market. It has been our topmost priority to ensure you get a seamless experience even as you collaborate in the safest and most secure of platforms.

Towards this, we have taken authorization of transactions up by a notch to provide you with an extra layer of protection. After all, no amount being released on CredSCF is big or small.

Earlier, deals and commercials were being directly released to the anchor by the authority at the investor’s end without any intervention or assessments by other personnel. The platform functioned on a single-sign-on system where there was no final sign-off required on the commercials before they were released to the anchor. This may have made it cumbersome for some entities to manage their commercials with borrowers.

The latest upgrade in CredSCF is a solution towards this that brings in better control and automatically puts in place authorization checks for those who require such a system. CredSCF now allows the investor to assign the roles of ‘maker’ and ‘checker’ by enabling the ‘maker-checker’ function in the ‘My Preferences’ section on the user dashboard. The user management page can be used to assign the requisite privileges to both the maker and the checker authority of the investor entity.

The commercials to be released will now be set by the maker and approved by the checker. Only when the commercials have been checked and approved will they be released to the borrower. Interested investors may enable this feature in the ‘My Preferences’ tab.

With this latest upgrade, the lenders, including banks and NBFCs, can make sure that there is a system of verifications and authorizations in place before a deal is accepted or an amount is sanctioned to the borrower. The authorization power will ensure that if the maker has mistakenly authorized a request for releasing commercials to a particular anchor, or the entity requires further due diligence, the checker can reject it for better safeguarding of company interests and funds.

About CredSCF

CredSCF is a leading marketplace that brings together investors and originators to finance vendor invoices for companies. Anchors or originators can onboard their entire supply chain on CredSCF for instant access to a large pool of lenders and experience seamless end-to-end supply chain financing. Anchors can find one-of-a-kind vendor finance, securitization, and dealer finance solutions on the CredSCF platform.

To know more about the supply chain finance marketplace watch the video below.