KUALA LUMPUR, Sept 8 — CapBay, an award-winning multi-bank supply chain finance and peer-to-peer (P2P) platform, has been selected by Telekom Malaysia Bhd ™ as the first and only fintech partner for its vendor financing programme known as PERINTIS.
The company said with a Memorandum of Understanding signed yesterday, CapBay will provide fast, affordable and fair access to supply chain finance solutions, bridging the cash flow gap for all levels and sizes of vendors throughout TM’s supply chain, including its small and medium enterprise (SME) subcontractors.
In a statement today, CapBay chief executive officer Ang Xing Xian said being part of PERINTIS would expand the company’s reach to underserved SMEs in the telecommunications sector that need flexible working capital to grow their business and build resilience against the impacts of Covid-19.
“With TM’s assistance in authenticating relationships and transactions, vendor processing requests will be digitised end-to-end, making risk assessment, onboarding and transactional financing simpler and faster,” said Ang.
He said with this latest initiative, CapBay’s P2P investors can now expand and diversify their investment portfolio backed by the government and large corporate receivables while earning healthier returns.
CapBay, he said, differentiates itself by offering lower risk investment notes in a bid to enhance investor trust and confidence especially during these times of uncertainty brought about by the Covid-19 pandemic.
“With the recent Overnight Policy Rate cuts, investors are worried that they will see lower returns on their investments and are looking for higher-yielding investments that are relatively safe.
“At our core, we strive to offer P2P investors high-quality investment notes that offer good yield and low financing loss risk. Investors can consider this as an alternative to fixed deposit savings,” Ang said.
He added that through CapBay’s proprietary credit-decisioning model, CapBay is able to provide flexible and cost-effective financing to SMEs and at the same time contain credit risks with a good track record of low financing losses, making it a safer alternative investment overall. — Bernama