SINGAPORE (Nov 4): DBS Bank has rolled out a zero-cost business toolkit that comprises a suite of banking and professional services for high-growth startups in the software, Internet and emerging technology industries
According to DBS, the “DBS Startup Unleashed” toolkit comes on the back of venture investors putting some $13.4 billion into Singapore-based startups over the course of the first nine months of the year.
Managing Director and Group Head, Institutional Banking Group at DBS Tan Su Shan notes that while startups work hard to bring exponential ideas to life in the marketplace, they often encounter considerable challenges in addition to the daily responsibilities of running and growing a business.
“Due to the rapid adoption and availability of new technology, these startups are on the cusp of exponential growth as they develop next-generation solutions that meet the rapidly changing consumption needs in Asia and across the globe. To help these startups make headway as quickly as possible, DBS is doing whatever we can, from linking them to our ecosystem partners to providing relevant banking services to help them succeed,” says Tan.
At no cost, DBS Startup Unleashed will address the most pressing needs of these startups. It comprises solutions for a range of topics. For instance, startups will benefit from a fee-free multi-currency account across 13 currencies for day-to-day transactions and complimentary international transfers, as well as a complimentary co-working and co-creation space at award-winning innovation facility DBS Asia X.
Other complimentary solutions in the suite include the set-up of payment collection and cash management solution, access to DBS’ team of digital solution experts to design solutions and access to an online accounting software so that cashflow and business projections can be managed through a one-stop digital dashboard.
Singapore-based Intelligent Automation firm FINBOTS is one company looking to benefit from the solutions offered through the ‘DBS Startup Unleashed’ business toolkit. FINBOTS CEO Sanjay Uppal highlights how the banking solutions provided will enable the company to save on everyday transactions, including cross-border ones.
“In addition, as we continue to tap into the DBS’ ecosystem through their Startup Xchange programme, we are already experiencing increased business momentum. We expect a significant uplift in revenue not just from our customers in Singapore but around the region as well,” says Uppal.
Startups in the Software, Internet and Emerging Technology industries who are interested in signing up for the ‘DBS Startup Unleashed’ business toolkit can do so at go.dbs.com/unleashed.
As at 11.59am, shares in DBS are trading 23 cents higher, or 0.89% up, at $26.10.
