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Banking


DBS announced it is scaling up the transformation of its branches across Singapore as customers seek quicker, socially-distanced, and more personalised branch banking services, and shift their banking to digital platforms amid Covid-19. In response to these shifts, the bank will boost self-service options, while still providing face-to-face assistance. This means that customers can more …

DBS Bank announced that it has been named the “Safest Bank in Asia” for the 12th consecutive year by New York-based trade publication Global Finance. DBS’ rankings as the fourth-safest commercial bank in the world and 14th safest bank globally remain unchanged from 2019 and 2018. Joseph D. Giarraputo, Global Finance publisher and editorial director, said, …

UOB Asset Management Ltd (UOBAM) launched the United Sustainable Credit Income Fund (USCIF), the first bond fund in Singapore for retail investors which focuses on bonds from companies that are making progress against the United Nations (UN) Sustainable Development Goals (SDGs). The UN SDGs set the global agenda for sustainable economic, social and environmental development …

Even as Singapore pushes to become cheque-free by 2025, cash cheques continue to be used by small and medium-sized enterprises (SMEs), typically to pay staff salaries, get cash for daily business operations or pay vendors for services rendered. While cheque usage by OCBC Bank’s retail banking customers has fallen 40 per cent since 2018, one …

To drive greater efficiencies in trade, DBS Bank has closed another ‘industry-first’ with the completion of the first trade financing settlement through vCargo Cloud’s CamelONE Trade Finance portal (TFP) – with another two transactions slated to close this week. The inaugural transaction relates to an SGD 4.8 million letter of credit transaction by homegrown steel …

OCBC Bank became the first bank to leverage Singapore Customs’ electronic Banker’s Guarantee programme, issuing an electronic banker’s guarantee (eBG) to Singapore Customs on behalf of vCargo Cloud, a leading Infocomm Technology solution and service provider that performs customs declaration services for forwarders and shippers. OCBC Bank’s API connectivity with the Networked Trade Platform has …

DBS announced its second round of relief measures to help businesses in Singapore cope better with the COVID-19 situation. These measures are a mix of financial relief packages and a slew of digital initiatives to enable companies to fast track their digital adoption and transaction fulfilment needs in the face of business continuity measures currently …

With digital banks set to come into play in Hong Kong, Malaysia and Singapore, there is a wide level of awareness amongst customers. Interest is varied across the board with younger (over 70% of 18-39 year olds) and high income groups (70% of those in the high income bracket) indicating that they were ‘very interested’ …

Paying suppliers and vendors with cash could soon be a thing of the past for Singapore’s 28,000 coffee shops, hawker centres and restaurants. DBS has launched an industry-first solution to transform the largely cash and paper-based B2B payments and collections landscape for businesses in Singapore. DBS’ QR-code based solution is powered by DBS RAPID and …

First bank in Singapore and Southeast Asia to go the extra mile; contributing to Singapore’s position as global financial centre for infrastructure projects. As part of its ongoing efforts in promoting responsible financing, DBS has become the first bank in Singapore and South East Asia to adopt the Equator Principles. The Equator Principles (EPs) is …