Revolutionizing Trade Finance: A Visionary Dive into the Fintech Landscape

Srinivas Koneru, Chairman & Chief Executive Officer of Triterras, shares his transformative vision in an exclusive conversation with Dubai Diaries. Delving into the realm of fintech, he discusses how the industry is poised to revolutionize small and medium supply chain financing, offering insights into Triterras’ pivotal role in this financial evolution.

What motivated the founding of Triterras, and how has it evolved over time?
Triterras was founded with a clear vision – to revolutionize the trade and trade finance sector by addressing its inherent challenges. Drawing from my extensive experience, particularly in successfully steering a significant commodity trading venture in Singapore, I recognized the critical need for improved efficiency, transparency, and risk management in the industry. Motivated by this realization, I assembled a dedicated team of experts to create a solution.

The result was the launch of KRATOS in June 2019, which swiftly became one of the world’s largest commodity trading and trade finance platforms. Facilitating over $20 billion in transaction volume, KRATOS seamlessly connects commodity traders, enabling them to conduct trades and secure capital directly from lenders through online channels.

Additionally, Triterras has extended its reach into providing essential working capital to Micro, Small, and Medium Enterprises (MSMEs). This strategic move aligns with our commitment to bridge the substantial $2.5+ trillion global trade finance gap and showcase Triterras’ evolution into a comprehensive solution provider for the industry.

What sets Triterras apart from the other players in the FINTECH industry?
Triterras stands out prominently in the competitive landscape of trade and trade finance platforms, demonstrating a unique set of qualities that distinguish it from its peers. Our team’s extensive industry experience, totalling over 100 years, positions Triterras as a leader in addressing pain points across the entire supply chain finance lifecycle.

From meticulous client onboarding and KYC/ AML checks to adept credit assessment, streamlined facility setup, efficient disbursements, robust portfolio management, and seamless repayments, we excel in delivering a comprehensive solution that navigates the complexities of trade finance seamlessly.

What truly differentiates Triterras, is our commitment to customization and agility. Our platform, built on a low-code-no-code methodology, empowers users to tailor it to their unique requirements, ensuring a dynamic and efficient user experience. Beyond functionality, Triterras goes the extra mile by providing a suite of value-added services. Our dedicated professionals generate high-quality deal flows and offer robust customer support, alleviating the burden on funders and borrowers alike.

Our commitment to the industry is further evidenced by our use of our own balance sheet to finance $250 million of transactions through the platform, serving as a tangible proof of concept. Triterras not only offers a cutting-edge platform but also demonstrates the confidence and dedication required to drive real-world impact in the trade and trade finance sector.

Can you describe the key services that Triterras offers, and how do these services address the needs of your target audience?
Triterras is dedicated to meeting the diverse needs of the trade and trade finance industry through its key services. Our end-to-end Supply Chain Finance Solutions streamline every aspect of the trade finance lifecycle, from client onboarding, KYC/ AML checks and credit assessments, to facility setup, disbursements, portfolio management and repayments. This comprehensive approach ensures we provide a one-stop solution, catering to the intricate requirements of our users.

Our Customizable Agile Platform, built with a low-code-no-code methodology, empowers users to adapt the platform to their unique workflows. This flexibility is essential for our target audience, allowing them to optimize processes and enhance efficiency in trade and finance operations.

Triterras doesn’t stop at transactions; we offer Value-Added Services, originating high-quality deal flows and providing crucial customer support. The utilization of our Balance Sheet to finance transactions demonstrates our confidence in the platform, assuring our users of its effectiveness and reliability. We are committed to driving real-world impact and supporting the financial needs of businesses in the trade and trade finance sector.

How do you address concerns relating to financial inclusion and responsible lending?
At Triterras, our commitment to addressing concerns related to financial inclusion and responsible lending is evident through a multifaceted approach. First and foremost, we prioritize inclusive platform access, tailoring our services to accommodate MSMEs. By doing so, we actively contribute to expanding participation in global trade and finance, promoting financial inclusion across diverse business segments and sizes.

Recognizing the challenges faced by MSMEs in accessing working capital, Triterras takes proactive measures by providing essential support to this segment. This initiative directly targets the financial inclusion gap, offering vital assistance to smaller businesses that may encounter difficulties with conventional funding sources.

Our focus on responsible lending is reflected in robust risk assessment measures implemented on the KRATOS platform. Through rigorous, continuous evaluation of participants’ creditworthiness and stringent KYC/ AML monitoring, we ensure that lending activities are conducted prudently, fostering confidence and mitigating risks in a manner that supports a sustainable financial ecosystem.

Compliance with regulations and industry standards is integral to our operations, reinforcing transparency and responsible financial practices. Upholding ethical business standards establishes a foundation for fair treatment, ensuring that all participants, irrespective of size, access opportunities responsibly. These initiatives collectively demonstrate Triterras’ active pursuit of financial inclusion and responsible lending, contributing to a transparent and sustainable financial landscape for businesses of all sizes.

How do you see the fintech landscape evolving in the next 12 months – what will Triterras’ role be in this evolution?
Over the next 12 months, I foresee a significant transformation in the fintech landscape, marked by heightened digitalization, automation, and a shift towards comprehensive ecosystems, sustainability, and collaborative partnerships in trade and finance. Triterras is poised to be a driving force in this evolution, steadfast in our commitment to reshape industry dynamics.

Our focus on streamlining processes, reducing paperwork and mitigating risks aligns seamlessly with the industry’s trajectory towards enhanced efficiency. With a track record of facilitating over $20 billion in transactions, Triterras stands uniquely positioned to offer invaluable insights by leveraging advanced data analytics and artificial intelligence (A.I.) in decision-making processes.

As the industry embraces comprehensive ecosystems, Triterras has strategically diversified its offerings beyond traditional trade and finance. Our integrated suite of products addresses traceability, credit assessment, risk management, trade digitalization, and solutions for working capital shortfalls.

Acknowledging the growing emphasis on sustainability, Triterras empowers corporations to calculate and demonstrate their sustainability metrics through our traceability products. This not only supports responsible finance but also enables lenders to confidently allocate funds to companies meeting green mandates.

In response to the collaborative nature of fintech, Triterras has proactively engaged in strategic partnerships, expanding our footprint globally. These collaborations position us as a key player in the global trade and finance ecosystem, actively shaping and influencing the trajectory of the fintech landscape in the coming year.

How is Triterras strategically positioning itself for growth, diversification, and adapting to industry changes?
Triterras strategically positions itself for growth, diversification, and adaptability amid industry-wide shifts. Beyond traditional trade finance, the company introduces a comprehensive suite of products to address various trade ecosystem facets, positioning as a versatile fintech player.

Embracing digital transformation, Triterras leads with technologies like data analytics and A.I., streamlining processes, reducing paperwork and enhancing efficiency. Proactive global expansion via acquisitions and partnerships strengthens geographical reach and product offerings, fostering adaptability to diverse markets of varying conditions.

Demonstrating strategic foresight, Triterras emphasizes sustainability, enabling clients to showcase metrics through traceability products. This aligns with evolving industry expectations and establishes Triterras as a responsible fintech provider. A customer-centric approach remains pivotal, with active listening to feedback and understanding industry requirements driving platform and service adaptation. This adaptability ensures our sustained growth and long-term relevance in the dynamic fintech landscape.

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