The bank has partnered cloud-based accounting software solution Financio to help SMEs with their digital transformation journey during COVID-19.
DBS Hong Kong will provide its SME clients with financing automation under a new partnership with cloud-based accounting software platform Financio.
By integrating a DBS business account with the platform, DBS Hong Kong clients will be able to transfer their data to Financio securely and automatically every day to get real-time reports, automated book-keeping, invoice-purchasing and management of cash flow reports, the bank said in an announcement on Tuesday.
There will be in-app support from Financio, a Cantonese-speaking help desk, and a Traditional Chinese and English interface.
Reducing Uncertainties
The bank said that one of the top challenges faced by SMEs is understanding cash flow uncertainties.
«With many small business owners spending countless hours manually importing and reconciling their bank statements every month, we believe our pioneering partnership with Financio helps equip our SME customers with true efficiency and productivity gains, so that they can focus on growing their business,» Alex Cheung, managing director and head of institutional banking group, DBS Hong Kong, said.
