Working under the recently issued Bangladesh Bank guidelines on Digital Platform for Local Factoring, Think Big Solutions Limited, a recently approved Fintech company, will launch Bangladesh's first integrated digital invoice auction platform, TREDXonline.
It will bring together financiers, corporates, and their suppliers onto a single platform to create a win-win-win value proposition, reads a press release.
TREDX will facilitate online, real-time transactions between suppliers with approved invoices and financial institutions keen on discounting these invoices and reducing costs across the entire ecosystem for all parties involved.
The introduction of TREDX will bring several benefits to the factoring market in Bangladesh.
The founders of this innovative fintech venture are noted entrepreneur and former president of Dhaka Chamber Abul Kasem Khan, economist and entrepreneur Dr M Masrur Reaz and prominent supply chain finance expert and fintech entrepreneur Raja Debnath.
TREDX will initiate its commercial operations within the next four months. The company is partnering for their technology with Veefin Solutions, a global leader in SCF technology. More updates are available on www.tredxonline.com