To help SMEs in their digital transformation journey, DBS launched DBS SME Connect, a portal for SMEs across all industries to access web-based business tools and services.
SMEs who are trying to keep pace with the technological shifts in the local and global economy can access accounting, HR and payroll, digital marketing, ecommerce, and cybersecurity solutions to give them a leg up, DBS Bank announced in a media statement on Wednesday.
«We want to provide a greater selection of solutions that will help them build their foundational digital capabilities. With our partners and the DBS SME Connect portal, we hope to make banking simpler and more seamless for our customers,» Joyce Tee, Group Head of SME Banking, said.
Latest Addition
In addition, new-to-bank SME customers can also open an account with the bank instantly without having to visit a branch or meet with a relationship manager. With this fully automated process, DBS estimates that over 80 percent of new accounts will be opened through this channel this year.
The DBS SME Connect portal is the latest addition to DBS’ digital suite of services for SMEs that span real-time digital cross-border payment tracking to corporate multi-currency account services. In November, the bank also launched DBS MAX, Singapore’s first mobile-based QR payment collection solution that improves cash flow for SMEs.
Annual Disruption Event
The bank has also been proactive in helping its SME clients grow through its DBS BusinessClass social platform, which runs an annual disruption event; its TechMatch programme, which matches customers with suitable providers and even potential acquisition targets; and its SME Academy, which gives foundation classes to help entrepreneurs get started.
