The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) have launched the linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI). This will enable customers of participating financial institutions in Singapore and India to send and receive funds between bank accounts or...
Singaporean multinational banking corporation United Overseas Bank (UOB) and OctoRocket.asia (OctoRocket), a business to business e-commerce platform, have signed a Memorandum of Understanding (MOU) to enable small businesses in ASEAN on OctoRocket to apply for financing quickly and easily.  OctoRocket, a joint venture launched...
Funding Societies, a SME digital financing platform, announced that it has achieved S$2 billion in disbursals of business financing to small and medium sized enterprises across the region. This milestone comes as the platform enters its sixth year of operations. The amount is partly crowdfunded by over...
DBS Bank (Hong Kong) Limited and GS1 Hong Kong have launched a digital post-shipment trade financing solution powered by alternative data. With this offering, small and medium-sized enterprises (SMEs) on GS1 Hong Kong’s ezTRADE platform can utilise their trade data to access financing in...
DBS has launched a hybrid financing solution to help small and medium enterprises (SMEs) access a wider pool of capital to finance their sustainability journeys. The DBS Eco Renovate Loan enables SMEs to borrow up to 100% of the cost of using resource efficient or energy optimisation...
Businesses are more interconnected than ever. In today’s global economy, international payments have taken on new significance in enabling cross-border trade and investment. Despite this, businesses continue to be plagued by expensive fees and unpredictable timings when carrying out cross-border transactions – these inefficiencies stem from an...
Xero, the global small business platform, has recently announced a partnership with Stripe to develop new innovations that help small businesses get paid faster, in more ways, and gain more visibility over their business performance. The global partnership, announced at Xerocon San Diego 2019,...
Good news for SMEs in Singapore. The government has set aside an additional S$100 million (US$74 million) for small and medium-sized enterprises (SMEs). This was announced by finance minister Heng Swee Keat in Parliament during his annual budget speech. The fund, dubbed SME Co-Investment Fund III, will...
Chasing down unpaid B2B trade debt has become a major headache for Asian companies trading on domestic and export markets. They are facing sharply increased costs to manage customer credit risk in-house and thus protect cash flow from disruption caused by the current challenging economic and trading environment.The...
OCBC Bank leveraged Singapore Customs’ electronic Banker’s Guarantee program which was launched on 2 March, issuing an electronic banker’s guarantee (eBG) to Singapore Customs on behalf of vCargo Cloud, an Infocomm Technology solution and service provider that performs customs declaration services for forwarders and shippers.