Singapore’s DBS has partnered with fintech firm FinLync to enable corporates to accelerate the digitalization of their treasury functions by integrating with the bank’s API (application programming interface) suite.
The alliance will allow firms to experience greater ease of integration, eliminating the need for complex implementation projects, which are often tedious and costly, according to DBS.
With plug-and-play capabilities to integrate banking services through the bank’s APIs into their workflows, companies can directly connect to and leverage DBS’ extensive suite of cash management, workflow, trade, information and foreign exchange services in real-time. This will help firms to accelerate the pace of automating their treasury operations and speed up their decision-making processes.
By integrating DBS and its clients’ corporate treasury and enterprise resource planning systems, corporates can also fully execute a range of treasury and finance functions seamlessly on their platforms, eliminating dependence on external treasury solutions. This will enable treasury and finance teams to operate more efficiently and transform their treasury services to meet the fast-changing business environment, the bank says.
“As digitalization continues to gain pace in the world of business, seamless connectivity for corporates to their respective banks is increasingly key to maintaining a competitive edge,” comments Lim Soon Chong, group head of global transaction services at DBS.
FinLync aggregates global banking APIs to deliver embedded real-time payments and cash management. It has offices in New York, Los Angeles and Singapore.