SINGAPORE (Jan 9): DBS Bank today launched DBS SME Connect, an online portal that provides small and medium enterprises (SMEs) “get digital, connected, and protected fast” with the provision of access to web-based business tools and services such as accounting, human resources (HR), digital marketing, e-commerce and cybersecurity solutions.

Instant account opening with DBS is also now available for new-to-bank SME customers with up to three directors.

Main image: Jian Min Sim (centre), CEO and co-founder of SourceSage, with the DBS team

In a press release on Wednesday, DBS says its new portal supports Singapore’s Infocomm Media Development Authority’s (IMDA) Start Digital programme, which aims to help SMEs build strong digital capabilities through the adoption of digital solutions.

It also helps SMEs across all industries “pave the way for future growth” by integrating basic digital technologies into their daily operations – with one such SME looking to sign up for these services through SME Connect being SourceSage, a local fintech specialising in commodity trading.

The portal comes as the latest addition to the bank’s digital suite of services for SMEs, following the launch of DBS’s mobile-based QR payment collection solution, DBS MAX, last year in November.

Joyce Tee, group head of SME Banking, DBS Bank, believes SME Connect will empower SMEs with the tools to grow and scale their businesses in line with the fast-changing times.

“The needs of SMEs are diverse, and as their banking partner, we want to provide a greater selection of solutions that will help them build their foundational digital capabilities and accelerate their transformation journey. With our partners and the DBS SME Connect portal, we hope to make banking simpler and more seamless for our customers, so they have a more structured approach to navigating the digital economy,” says Tee.

SME Connect’s partners include Singtel’s Essentials HR Plan and Broadband Protection Plan, which support the HR & payroll as well as cybersecurity functions of SME Connect, respectively.