Building a Financial Operating Center for SMBs in Southeast Asia: BizBank Launches Its Corporate Expense Card in Singapore
BizBank is building a 'bank-in-a-box' for Southeast Asia's large but underserved SMB community BizBank's first product offering is a corporate expense management card The technology platform seeks to empower SMBs in the digital era Singapore / SEAPRWire / April 8, 2021 / – Atlantis, a Singapore based fintech company has announced the launch of its digital platform for small and medium Businesses (SMBs) - BizBank. BizBank's mission is to empower SMBs by providing them with a comprehensive, technology-based financial and business platform to accelerate their growth in the digital era. In Southeast Asia, SMBs form the backbone of the economy, and account for 70% of GDP and between 52% and 97% of total employment in the region. According to research by Google and Facebook, there are c. 310 million digital consumers in the region, who are fuelling a tremendous growth in online spending. Yet the majority of SMBs in the region struggle to capture this demand because they are in the early stages of digital transformation. Approximately between $20 and $40 billion is spent by SMBs for various OPEX payments. Existing tools and solutions in the market today are fragmented and do not cater to ...
