DBS

Finance teams open to digitally-led innovation and collaboration will be well-placed to benefit from disruptive forces in the cross-border payments landscape over the coming years, says Phil Carmalt, executive director and head of cash management product at DBS in Hong Kong.

Covid-19 has made digitalisation an imperative for corporates to survive and thrive, accelerating the global adoption of digital supply chain solutions. Mark Troutman of DBS, along with several treasury professionals, reveal some of the key trends driving transformation.

The impact of Covid-19 on global trade finance cannot be overstated. Yet, as one of the last holdouts in the march towards a digital future, the industry still faces an uphill battle in rallying around a common digital standard. Costs remain a significant barrier, and yet Covid-19 has been a catalyst for change – some say that it has fast-tracked digitization by a decade - having exposed weaknesses in the status quo, and putting some companies out of business. It is clearer now than ever that firms that wish to survive will have to adapt to a digital future.

Research by DBS reveals the region’s most influential treasury units will notably increase usage of API technology to solve their biggest issues. Dynamic companies such as Gojek, Skyee and Bukalapak are just a few live examples.

Digitisation has the power to improve processes, increase visibility and enhance a treasurer’s influence within a company, according to new ground-breaking research.

Rapid adoption of instant payment schemes in Asia’s two most prominent financial centres, Hong Kong and Singapore, is accelerating the digital transformation of businesses.

DBS has become a global trendsetter with the world’s largest banking API developer platform and is breaking new ground with adopting APIs in digital ecosystems with corporates

DBS’ Treasury Prism has the potential to revitalise the bank selection process, saving time and resources that can be spent more effectively elsewhere.

API technology is empowering companies, like Grab, to adapt to rapidly changing business needs. Instead of waiting for problems to arise, collaborative partnerships with your bank can result in the co-creation of new solutions that evolves as you do.

Cross-border payments require traceability, speed, and accountability. The new gpi initiative places the onus on financial institutions to disclose their fee structure and activities. Treasurers now have more control over their transactions.

The Chinese technology company introduced a cross-border supplier finance programme to improve its own cash conversion cycle while mitigating any drawback for its key suppliers.

DBS’s working capital solution for the Huhtamaki’s Hong Kong arm significantly boosted operational efficiencies