The COVID-19 outbreak has prompted Singaporeans to embrace more digital services when taking charge of their finances - and this is a shift that the majority believe will stick post-pandemic, a survey by personal finance website SingSaver found. Conducted in June, the survey analysed...
In their annual SME financing research conducted by Linkflow Capital, SMEs continued to see improved access to financing in 2019. According to Linkflow Capital, up to 39% of SMEs gained access to financing in 2019. This figure has continued to improve since the company...
The COVID-19 pandemic has severely crippled the global economy. While social distancing measures have been vital to securing people's lives and enabling effective governmental responses to the pandemic, SMEs around the world have been hit hard by these necessary measures. Social distancing measures put...
COVID-19 containment measures around the world have impacted both national and international supply chains and trade. Responses to the 2020 Atradius Payment Practices Barometer (PPB) survey in Asia suggest the resulting delays in payments are largely being financed by suppliers as the use of trade credit and, along with...
Coupa Software, a global technology platform for Business Spend Management, announced on 10 June the results of a global study of more than 650 financial leaders. The survey, sponsored by Coupa found that the majority (87%) of respondents believe a recession is likely, with more than half (53%) expecting...
Recognising the important role that social enterprises (SEs) play in creating positive impact in society – whether by hiring disadvantaged members of society or solving societal problems – DBS has announced a slew of proactive measures to beef up support for this sector. They...
The recent DBS SME Pulse Check Survey signalled that the Singapore Government’s relief measures are paying off, with only three in ten SMEs now flagging cash flow concerns as a top priority, compared to over seven in ten when the same question was asked in early February...
The Monetary Authority of Singapore (MAS) announced on 28 May that the first phase of the Veritas initiative - a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA) - will commence with the development of fairness metrics in credit...
DBS has approved over 3,500 loans totalling over SGD 1.1 billion for micro and small enterprise customers during the COVID-19 period, under Enterprise Singapore’s financing schemes. This accounts for eight in ten of all Government-assisted SME loans that the bank has approved between the...
DBS Bank joined Contour’s network on 11 May 2020, growing the number of banks on the blockchain platform driving a collective effort to digitalise global trade. Built on R3’s Corda, Contour’s network focuses on digitalising processes, including the creation, exchange, approval and issuance of letter of credits...