The VendorMach Trust Score provides real-time supplier trust monitoring for buyers, suppliers, and financial organizations

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Country: UK vendormach

Launched: 2014

A dynamic trust score for third party vendors in real time. This fintech reduces risk of supplier credit default and reputational trust impact for CFO’s, Compliance and Credit Risk Officers.

Concept

  • VendorMach’s proprietary risk model, based on machine learning algorithms, is applied to buyer’s supplier data as well as data from trusted sources enabling just-in-time risk compliance while recognizing suppliers that would be a fit for working capital loans and supply chain specific finance such as reverse factoring
  • Features include aggregate and individual scoring, directors and vendor matching, a user-friendly buyer dashboard, up-to-date financial filings, compliance notifications, benchmarking and invoice analytics
  • The company was started to increase working capital for private companies and at the same time, learned through data key insights and benchmarks. Their cloud platform analyses and aggregates multiple data sets, then use machine to trust score
  • VendorMach targets supply chain issues such as communication silos and increased risks incurred by onboarding, monitoring and retaining suppliers and ‘’Knowing your third party’’ compliance requirements

Consumer benefits

  • Buying organizations use the VendorMach Trust Score to classify suppliers, reduce the cost of vendor selection and management, ensure business continuity and comply with third party regulations
  • Financial organizations use the VendorMach Trust Score for know-your-customer (KYC) initiatives and to underwrite risk when dealing with private companies
  • Buyers, suppliers and financial organizations who are part of the VendorMach ecosystem benefit from reduced vendor risk, access to capital and a new market for small business loans and supply chain finance products

Illustration

An example of VendorMach’s analytics

Vendormach