DBS Bank is collaborating with the Singapore’s tax authority, the Inland Revenue Authority of Singapore (IRAS), to digitalise tax payouts and collections as part of the nation’s target to be cheque-free by 2025. Beginning this year, businesses have been able to use PayNow, DBS’...
A new report by S&P Global Ratings has indicated that embracing financial technology (fintech) and the innovations it heralds will improve the long-term competiveness of Singapore's banking industry.According to the report titled "Singapore banks must adapt to fintech or lose out", the global rating agency's credit analyst...
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...
Singapore SMEs are looking to invest in business transformation despite expectations of a soft economic environment outlook in the next six months, together with lower turnover and profitability.  The SBF-DP SME Index (the Index) has seen a dip from 50.7 to 50.4 this quarter,...
The Monetary Authority of Singapore (MAS), Singapore FinTech Association (SFA), AMTD Group and AMTD Foundation (collectively, AMTD) announced on 13 May the launch of a S$6 million MAS-SFA-AMTD FinTech Solidarity Grant (the Grant) to support Singapore-based FinTech firms amid the challenging business climate caused by the COVID-19...
Asian Development Bank (ADB) President Masatsugu Asakawa and Singapore Deputy Prime Minister and Minister for Finance Heng Swee Keat officially opened ADB’s new office in Singapore on 5 March 2020, deepening efforts to collaborate on some of the most pressing development challenges facing Asia and the Pacific....
In a bid to help SMEs in their digital transformation journey, banking and financial services corporation DBS has recently launched DBS SME Connect, a portal for SMEs across all industries to access web-based business tools and services to get digital, connected and protected fast. SMEs who are...
Singapore SMEs remain cautiously optimistic about business prospects in the next six months, with key economic sectors showing a slight uptick in reading, according to the latest SBF-Experian SME Index. The ongoing trade tensions between US and China has cast a shadow over the...
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...
Singapore SMEs continue to adopt a mildly optimistic outlook for the first six months of 2019 as general sentiments eased across all seven sectors.The SBF-DP SME Index (the Index) decreased from 51.0 to 50.7 this quarter, indicating a slight dampening of sentiments among SMEs. This index is...