Kountable began by creating a solution for the trade finance needs of SMEs in East Africa that local banks were unable to address. Capable, experienced entrepreneurs were unable to secure financing to procure goods inside of solid contracts with good end payers. Loans and letters of credit required collateral, and banks were often unable to provide them with the capital they needed to finance large products where the inputs might be worth many times a person’s house or savings. Kountable offered a different kind of solution, purchasing the goods on the SME’s behalf and receiving payment directly from their customer. Over more than 200 trades with SMEs, Kountable developed treasury management and payment factory capabilities and a fully auditable trade process to document the transactions and manage risk from end to end.
Our first bank partners became referrers, sending us quality SMEs whose deals they were unable to fund, and benefitted from the additional deposits and banking services that resulted as their customers grew their businesses. Now Kountable’s supply chain management expertise, data and technology platform offer many possibilities for banks looking for innovative ways to service corporate clients who either sell or buy through SME resellers.
For instance, an OEM client might partner with the bank to finance their supply chain which includes SME resellers, knowing that Kountable can run the program through its platform to ensure AML/KYC compliance, quality management, currency risk management, and GRC and ESG and tax compliance, including integration with digital treasury and ERP functions. Kountable's full visibility into the trade from end to end, can also provide invaluable supply chain management data which is otherwise unavailable.
Kountable is in conversations with banks from around the world about the various collaboration opportunities our data, trade management processes and ability to aggregate demand in challenging markets present. Our team is well versed in the regulatory requirements banks face and also how Kountable’s position outside that regulatory environment can be complementary. We welcome conversations with banks looking for innovative ways to design and extend new products to their SME customers and larger corporate and government clients who have SMEs in their supply chains across the globe.