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Supplier purchase order analytics in e-commerce

In AI, Big Data, KYC, Machine learning by admin

Last week VendorMach had a busy couple of days exhibiting at CogX 2017. An AI forum drawing audiences from startups and corporates, it was a good mix of people, a vibrant atmosphere, and some of the best brands in tech. We had a number of stimulating conversations and continue to learn that supplier relationship management is a pain point across industries. Supplier purchase order analytics in retail e-commerce Retailers find themselves operating ever more complex supply chains. An online fashion retailer in particular prides themselves on top customer service and efficient delivery and return handling. This involves management of thousands of …

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Is Supply Chain Finance only Necessary for Cross Border Suppliers?

In CFO, Cross border, KYC by admin

Let’s start with a key question, what is supply chain finance? Supply chain finance (SCF) is when supplier invoices get financed by a bank on the basis of the creditworthiness of the buyer. A supply chain finance program is when a large buyer’s CFO approaches its bank asking to set up a (also known as reverse factoring) program for a number of suppliers. While suppliers can be based domestically, more often than not, historically such SCF programs were designed to support international cross border operations with cash strapped suppliers based in a different country from financing bank and buyer. This …

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4 Things to Watch for in the Trump Administration

In Financing, KYC, regtech, Regulation by admin

Global Trade Spend Increase As was reported recently, the Trans Pacific Partnership (TPP) is now dead. What does it mean for the supply chain? It means, if you are a US business with some business operations overseas, expect increased supplier spend. You may need to offset new law that will come into place by diversifying the risk with local suppliers for non critical operations. Less Taxation, More Jobs? There is talk of increased repatriation of multinational funds sitting in foreign markets. As much as $2.6T is stashed abroad and they have been there for a while (current 35% tax not an incentive …

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Can KYC And KYS Ever Be Fully Automated?

In KYC by VendorMach

The first thing that comes to mind when one thinks of know-your-customer (KYC) initiatives is the complexity around anti-money laundering (AML) regulations. Generally, the more one can reduce complexity, the better. When it comes to KYC this boils down to reducing the amount of employee time spent on such tasks in order to free people’s time for more productive work. Recent intelligence from KPMG estimate the amount that larger financial institutions spend on their AML screening alone has risen at an average rate of 53%. KYC is no longer about verifying and monitoring customers of the financial institution (FI) but …

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Trust And Regulation In Transactional Marketplaces

In KYC, Regulation, SMB by VendorMach

The US Treasury released a White Paper on the $1T US online marketplace lending market. The report released in a pivotal week comes amid several macro economic factors such as: Rising interest rates and higher default rates. Recent P2P public market entrants and diminishing loan interests from retail investors. P2P market maturity and resulting securitization. Jobs Act Title III going live in days (May 16) for main street Americans and the flurry of niche platforms that are on their way. Recent non disclosure and malpractice (trust related) events at Lending Club. The White Paper outlined the following recommendations: More transparent …