MARKET: Supply Chain Finance

YEAR: 2022

Polaris Logo

OVERVIEW

A platform for an easy and immediate collaboration

Polaris is a digital platform designed to provide an innovative solution to the Supply Chain Finance market. It was born from the experience and technological expertise of TXT Group, an international player specialized in the implementation of digital solutions. The Polaris proposal therefore sees the establishment of a community in which buyers, suppliers and financial partners are able to interact collaboratively. Polaris thus offers a solution that overcomes the limitations of the tools already on the market, which are not scalable and not easily managed by the companies.

Clock

The buyer can extend payment deadlines.

Partner

The supplier has the option to negotiate the debt.

Supply chain

Financial partners can support the supply chain easily and safely.

The goal of Polaris was therefore to create a contractual and operational architecture capable of:

  • Provide a single onboarding pathway for buyers, suppliers and investors participating in the supply chain that would facilitate the exchange of information and the signing of contracts;
  • Optimize the use of credit made available by banks and, in general, participating investors;
  • Limit the risk taken by investors to the only eventuality of buyer default.

CHALLENGE

Between digitization and regulatory compliance

To do this, Polaris needed to adopt a digital solution. This would have been functional to dematerialize contractual agreements and individual transactions, while ensuring:

  • Full regulatory compliance for banks and investors;
  • The traceability of each act back to the company and the person who performed it.

SOLUTION

TOP to ensure process efficiency and a better UX

Polaris turned to InfoCert, recognizing the company’s expertise in regulatory compliance and its wide portfolio of innovative and easily integrable Digital Trust solutions. InfoCert proposed to the client the adoption of TOP, Trusted Onboarding Platform, that enables easy and intelligent integration of processes for identity verification, management and electronic signing of digital contracts, even within pre-existing applications, improving the user experience and speeding up the processes.

Through the use of APIs, Polaris was able to integrate the solution easily:

  • certifying the identity of individuals acting on behalf of member companies;
  • enabling the creation of binding computerized documents for the parties
  • ensuring regulation-compliant storage of all acts performed on the platform.

The initial integration of TOP and then, the subsequent use of SPID as an alternative identification tool, provided Polaris with optimal process robustness and UX, resulting in extremely low onboarding execution times.

“The partnership with InfoCert has enabled us to simplify and reduce the timing of Onboarding processes. All with the assurance of security and privacy provided by a solid and recognized market leader. The users of Polaris can thus take advantage of a unique solution in the national panorama,” declares Francesco Sacchi – CEO of TXT Working Capital Solutions and creator of Polaris.

In a sector like the Supply Chain Finance where innovation rhymes with simplification, Polaris is already looking to the future.

“The use of SPID as an identification factor is a first step to simplify the digital user experience. However, more can be imagined, starting from the use of SPID as a digital signature tool to the integration of a blockchain as a transaction certification tool.”