OCBC regional network and XTransfer professional platform assist small and medium-sized enterprises in cross-border trade
XTransfer, a leading provider of cross-border payment solutions, has entered a strategic partnership with OCBC Bank to deliver enhanced financial services for small and medium-sized enterprises (SMEs) involved in international trade. This collaboration aims to streamline payment processes, improve foreign exchange efficiency, strengthen risk management capabilities, and expand wealth management offerings tailored to SMEs in the ASEAN and Greater China regions.
The partnership leverages OCBC's expansive regional network, spanning key markets such as Singapore, Hong Kong, Malaysia, and Indonesia, to optimize cross-border settlement processes. A significant feature of this alliance is the designation of OCBC China as XTransfer's global account manager, ensuring seamless integration and coordination across the bank's subsidiaries to drive business growth and operational efficiency.
A flagship solution under this partnership is OCBC Hong Kong's Global Multi-Currency Account, which empowers SMEs to manage transactions in a wide range of global and regional currencies, including Renminbi, US Dollar, British Pound, Euro, and ASEAN currencies. This product facilitates smoother trade operations across ASEAN and Greater China, enabling SMEs to better navigate the complexities of global commerce.
To further enhance operational convenience, XTransfer is integrating Hong Kong's local clearing networks, such as CHATS and FPS, into its platform. These integrations aim to simplify payment and fund collection processes, ultimately boosting cross-border trade efficiency and expanding the range of financial services available to over 550,000 SMEs currently served by XTransfer worldwide.
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