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...
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...
United Overseas Bank (UOB) announced on 5 May that it has already approved S$4 billion in loans under the Temporary Bridging Loan Programme (TBLP) since the government increased its risk-share of such loans to 90 per cent a month ago. The loans were extended...
To further support tourism businesses during the circuit breaker and to give them a headstart for recovery, the Singapore Tourism Board (STB) has rolled out several new initiatives to help them engage their customers, strengthen their business foundations and deepen their manpower capabilities. For travel agents, there...
Come 30 June 2020, OCBC Bank expects the quantum of the government-assisted SME loans it lends out to help small businesses during the COVID-19 pandemic to hit the S$1 billion mark. This fully utilises the support given by the Monetary Authority of Singapore under its low-cost SGD...
United Overseas Bank (UOB) announced on 21 April that it will be offering pre-approved loans of up to S$200,000 to help ease the short-term liquidity woes of its small business customers impacted by the COVID-19 pandemic. With small businesses making up two in three...
On 21 April 2020, the Multi-Ministry Taskforce announced that it would extend the circuit breaker period until 1 Jun 2020 (inclusive), and put in place enhanced circuit breaker measures minimally for a two-week period from 21 April 2020 until 4 May 2020 (inclusive).
To support the liquidity needs of small and medium-sized enterprises (SMEs), DBS Bank has launched a digital financing facility with Haier Group (Haier), a leading Chinese consumer electronics and home appliances enterprise, to enable its ecosystem of distributors to access lower cost financing for their purchase orders...
OCBC Bank has become the first financial institution to bring Google Pay’s peer-to-peer (P2P) funds transfer service to Singapore. Singapore is currently the third country aside from the United States and India where this service is available. With the integration of the Google...