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Singapore Fintech Festival 2022: ANEXT Bank SME programme to increase access to financing

Singapore Fintech Festival 2022: ANEXT Bank SME programme to increase access to financing

ANEXT Bank head of strategic partnerships Randall Lee took to the stage at Singapore Fintech Festival to launch a new industry initiative for SMEs, increasing access to financing and supporting digital transformation.

IN Financial Technologies and Bizmann System are among the first to join the programme which allows 15,000 SMEs to seamlessly access financing. The digital wholesale bank - incorporated in Singapore and wholly-owned by Ant Group - welcomes all ecommerce marketplaces, fintech companies and digital solutions providers who support SME cross-border operations through digital-based services or platforms.

ANEXT Bank will collaborate with industry specialists to expand the breadth of service offerings for SMEs on their platforms, offering a consolidated view of a business’s wallet balance, loan amount and repayment status.

As part of the Programme, ANEXT Bank provided a preview of the ANEXT Business Loan with two repayment options to complement its existing ANEXT Business Account. Further, earlier this year, ANEXT Bank signed a 2-year MoU with Proxtera to transform and enable holistic cross-border trade among SMEs and businesses through making marketplaces efficient and discoverable globally, with embedded financing, fulfilment services and SME empowerment.

Speaking of the initiative, Ms. Toh Su Mei, the CEO of ANEXT Bank said: “With our secure banking capabilities and first-hand knowledge on what it takes to do business digitally, ANEXT Bank is well positioned to help partners unlock more growth opportunities by enabling access to financing to SMEs on their platforms. At the same time, industry specialists are domain experts in their respective fields and they can provide deep insights on the challenges and needs of SMEs. Together, we can create unique use cases and solve financing pain points for SMEs at scale.”


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