Stepping Stone works with and supports DBS in both Singapore and Hong Kong. So, we were heartened to read about an exciting development in the partnership between DBS Bank and Xero.

Designed to simplify bill payments, this industry-first online payment solution will help startups and SMEs manage their cash flow needs more effectively. It addresses certain payment issues caused by finance-related concerns, including cash flow problems; something that affects more than one in three SMEs in Singapore.

The new payment solution will eliminate potentially costly and error-strewn admin tasks for SMEs, instead allowing for payments to be initiated in Xero and approved through DBS’ corporate internet banking platform, DBS IDEAL.

It will be made available to existing DBS-Xero customers in Singapore at no extra cost, and the bank plans to roll this solution out to SMEs in Hong Kong by the end of 2018.

You can read more about this exciting development here.