United Overseas Bank (UOB) announced on 26 November its collaboration with three homegrown solar companies, SolarGy, SolarPVExchange and Sunseap Group, to accelerate the use of solar energy in Singapore. The tie-up is part of the Bank’s U-Solar program which connects the entire solar power value chain...
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) jointly conducted a cyber-themed business continuity exercise in November 2019 to strengthen the financial sector’s resilience to cyber-attacks and operational disruptions. Codenamed Exercise Raffles, the sixth edition of the exercise was conducted over two...
To leverage Singapore’s global trade connectivity, DBS Bank and Trafigura, in collaboration with Infocomm Media Development Authority (IMDA), the International Chamber of Commerce (ICC), Enterprise Singapore and tradetech Perlin, have come together to develop an open-sourced blockchain trade platform (ICC TradeFlow platform) to connect trade partners across...
CIMB Bank Berhad, Singapore branch ("CIMB") announced in November its collaboration with SESAMi Holding and Capital Match, to finance the SESAMi trading community's invoices digitally under an automated workflow.   SESAMi Holding, an e-procurement platform in Singapore acquired Capital Match, an invoice financing marketplace with operations in Singapore and...
The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) announced in early November the successful completion of its Business sans Borders (BSB) Phase One Proof-of-Concept (POC). MAS and IMDA will proceed with the Phase Two Pilot of the BSB in 1H 2020. BSB is...
United Overseas Bank (UOB) announced on 4 November the launch of UOB mCollect, a QR-based collections solution that digitalizes the cash-on-delivery model. With UOB mCollect, businesses will be able to collect payments from their buyers via PayNow at the point of delivery, helping them reduce the risk...
On 1 November 2019, DBS Bank announced that it is making available a comprehensive suite of banking and professional services – at zero cost – that high-growth startups in the Software, Internet and Emerging Technology industries need. This is in recognition that Asia is...
OCBC Bank announced on 11 November 2019 their partnership with Google to bring a refreshed Google Pay app to Singapore in January 2020. The partnership will enable OCBC Bank customers to be the first in Singapore to make account-to-account PayNow fund transfers using the enhanced features of Google Pay.
Sage, a company offering cloud business management solutions, and Standard Chartered announced on 8 November a new partnership to provide small and medium-sized enterprises (SMEs) with access to tools, knowledge and funding that will simplify SME banking and support them in making more timely and insight-driven financial decisions at critical stages...
On 4 November 2019, OCBC announced that start-ups can now open an OCBC business banking account in Singapore immediately after incorporation, rather than experiencing the typical one day wait. This is made possible through an Application Programming Interface (API) between OCBC Bank and global information services provider, Experian. Once a business...