FAQ

A technology enabler for digital and open banking, focused on providing easier, cheaper and faster financial products – Banking as a Service (BaaS). After the agreement to join the multi-tier finance programme, the anchor corporate (large buyer) will be granted a ‘limit’ from the financier to issue.

DPO is established under the law of contract (not the law of note or security). By signing and issuing the DPO, the anchor corporate commits to pay the full amount to the financier without condition on the agreed payment due date (Due Date), and to pay the financier for clearing. The Tier-1 supplier has the flexibility to:
1) Hold on to the DPO until Due Date and receive the payment from the financier, or
2) Transfer the full/part of the DPO (transfer the right to claim the receivables) to its sub-supplier (Tier-2…), or
3) Apply for early payment from the financier before Due Date by paying a financing fee.

Tier-2, Tier-3…Tier-N suppliers will have the same flexibility.

BANCO does not directly approve or refuse the issuance of DPOs. At present, the rule is that the core enterprises issues the DPOs, and the financiers would review the DPOs.

The entry of suppliers into the BANCO platform can solve the problem of a long transaction accounting period and slow withdrawal of funds. Enterprises can also vitalise cash flow, reduce enterprise costs and improve business efficiency.

The entry of core enterprises into BANCO platform can guarantee the authenticity of trade, reduce risk, enrich the use scenarios of DPOs, and utilise the cross level transmission of enterprise credit.

Generally speaking, the person in charge of project approval and management, as well as the person in charge of finance is required to be familiar with BANCO. The rest of the organisation would depend on the division of responsibility of the company’s personnel.

When the required authentication documents are uploaded according to the corresponding requirements and are verified by the financier and the core enterprises, the funds can be transferred to the account immediately. BANCO will inform you of the latest progress in real time during the approval process.

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