Over 15,000 small and medium-sized enterprises (SMEs) across Singapore, Hong Kong, China, India, and Indonesia are set to benefit from the upcoming digital platforms to be launched by DBS by the end of 2022. The bank said the platforms are part of its efforts to digitalise financing capabilities as well as help businesses adapt to trade disruptions and geopolitical tensions. More than nine in 10 of the bank’s supply-chain finance transactions across Asia were carried out through digital platforms in 2021. DBS also offers same-day digital supplier onboarding services to its corporate clients and has been doing so since 2019. These collective efforts are in line with the bank’s strategy to further catalyse the development and adoption of digital trade platforms and embedded digital financing solutions across industries to bolster the resilience of supply chains.
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