RootAnt Global introduces BANCR into its BANCO platform

By Leandra Monteiro

Singapore-based FinTech RootAnt Global, announced the introduction of its central lending platform, BANCR, into the existing BANCO platform, one of the first transaction neobank platforms in Asia.

In alignment with BANCO by RootAnt Global’s strategy to connect enterprises of all sizes, stakeholders, and financial institutions on a single platform for better, faster, and more relevant financial services, BANCR aims to provide a digital and open banking platform for small and medium-sized enterprises (SMEs) to gain easier access to finance.

BANCO currently offers a deep-tier financing solution to allow enterprises in the entire value chain to optimise cash flow and improve business efficiency. With the introduction of BANCR, SMEs can register their financing requirements and submit loan applications to multiple lenders at one time, allowing SMEs to gain access to financing more quickly and efficiently.

“This new platform, BANCR, represents the determination that RootAnt Global has to drive accessibility and collaboration between financial institutions, stakeholders and SMEs of all sizes to optimise cash flow and improve business efficiency. We are thrilled to introduce BANCR into our platform, further elevating our suite of product offerings. The integration of BANCR and BANCO together signals our commitment towards bringing different stakeholders under a unified platform – ensuring a seamless experience for all,” said Lincoln Yin, Founder and CEO of RootAnt Global.

In addition, RootAnt Global will also be unveiling a new and exciting logo for BANCO, which represents the firm’s beginnings in Singapore and its vision to build digital infrastructure to connect and accelerate the growth of finance in Asia. Working towards that vision, platforms powered by BANCO would soon be made available through partners in mainland China, Hong Kong, Indonesia, Japan, Vietnam, and more.

Ms. Teresa Tah, General Manager, Business Banking, Standard Chartered Bank (Singapore) Limited said, “Digitalisation and innovative partnerships have been a key part of Standard Chartered’s strategy to serve our Business Banking clients. To continue delivering on our promise to offer relevant and timely financial services, we are delighted to collaborate with BANCO to enable quicker and more efficient financing access for a bigger pool of SME customers. By supporting SMEs, which have vast potential to contribute meaningfully to the development of our economies, we can look forward to fostering inclusive and sustainable growth for the benefit of all.”

“We are excited to welcome the launch of BANCR central lending platform by RootAnt Global. The pandemic has thrown the world’s economy into turmoil and made it even harder for SMEs in Singapore to gain access to financing. Such platforms serve as a ray of hope for SMEs that now have a unified, omnichannel platform to meet their financing needs in a hassle-free manner. We have renewed motivation knowing that we have an alternative route to get loans apart from the traditional routes,” said Kenneth Tan, Director of Stewart Engineering Works.