DBS to launch 5 partnerships to enhance SMEs’ digital supply chain capabilities
SMEs from Singapore, Hong Kong, China, Indonesia, and India will benefit.
DBS is launching five new platform partnerships featuring the integration of digital and supply chain capabilities, which are expected to benefit 15,000 small and medium enterprises (SMEs) in Asia.
Sectors that will benefit from the launch of the upcoming digital platforms include e-commerce, logistics, and commodities, amongst others.
The platforms are expected to benefit SMEs across Singapore, Hong Kong, China, India, and Indonesia by end-2022.
These also add to the 12 digital platform partnerships aimed at enhancing integrated digital financing and payments capabilities that DBS has launched since 2017.
“Corporates across all sectors and scales are feeling rising pressure to keep pace with the latest digital developments while navigating ongoing global supply chain disruption and economic headwinds,” said Raof Latiff, Group Head of Ecosystems, DBS, said.
Almost all or 97% of businesses in Asia-Pacific have indicated that they are facing external pressure to transform digitally, with growing supply chain complexities as one of the push factors for change, according to the DBS Digital Readiness Survey. However, they face hurdles in the speed of change in the surrounding macro and business environment as well as with the high costs of adopting new technologies.
“To help relieve some of this burden, we continue to leverage our extensive suite of digital solutions to deliver integrated financing solutions that can help businesses overcome challenges and further fortify their business resilience,” Latiff added.