, Singapore
529 views

DBS, Xero simplifies SMEs loan application with data-sharing partnership

Xero customers now has the option of sharing their transaction records to DBS.

DBS has deepened its partnership with Xero to simplify the loan application process by giving Xero customers in Singapore and Hong Kong the option of sharing their transaction records from the digital platform to DBS.

This will reportedly allow the bank to offer small and medium enterprises (SMEs) more hyper-personalized credit terms and working capital limits tailored to their needs.

The deepened partnership between the companies–which began in 2017–follows after the DBS SME Pulse Check Survey found that over 85% of SMEs indicate ensuring consistent cash flow and managing costs as a key business priority in 2022.

DBS and Xero began their partnership in 2017 with a bank feed integration to give SMEs greater visibility and control over their finances with automatic bank updates. 

Xero is also a key partner of the bank’s DBS Start Digital Package, which is designed to help SMEs kickstart their digital transformation journey. 

To date, close to 400 SMEs in Singapore have tapped on Xero’s all-in-one solution to digitalise their accounting function through the DBS Start Digital Package, according to the bank.

Follow the links for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Unemployment rate rises to 5.4% from February to April
The total number of unemployed people stands at 206,100.   The unemployment rate rose by 0.4 percentage points to 5.4%  from February to April, when compared to the January to March period.    Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people from February to April was 206,100, an increase of 17,600 from the preceding three-month period.   Meanwhile, the number of unemployed rose by around 25,000 to 142,000, translating to a rate of 3.8%.   With the increase in the number of jobless and underemployed individuals, total employment dropped to 3,559,200, whilst the labour force fell to 3,765,300.   The deterioration of Hong Kong’s labour market however should see an improvement in the coming months, according to Secretary for Labour & Welfare, Dr Law Chi-kwong.   The receding local epidemic situation and progressive relaxation of social distancing measures, the new round of Consumption Voucher Scheme, and Other relief measures including the 2022 Employment Support Scheme should help drive improvement in the employment sentiment, said the C&SD.  
Economy