DBS, JD Logistics to supply SCF tools to Hong Kong-based SMEs

Wednesday 25 November 2020 13:49 CET | News

DBS Bank has announced it is teaming up with JD Logistics (JDL) to provide supply chain financing to Hong Kong-based SMEs in the cross-border ecommerce import business.

JD Logistics is the supply chain and logistics arm of Chinese ecommerce company This is Singapore-based DBS's first digital solution for ecommerce merchants on a logistics platform, the bank said.

Through this partnership, DBS will provide supply chain financing to JDL's e-commerce SMEs that place their inventory in JDL's bonded warehouses and sell the imported goods on JD Worldwide. This can help improve the merchants' cash flow needs to meet demand from Chinese consumers.

In addition, the bank will integrate its digital service into JDL's blockchain platform to enable the real-time exchange of data. JDL will be able to refer ecommerce merchants that require financing to DBS. The bank will then approve these applications based on real-time supply chain transaction data, such as inventory and sales proceeds collected from the end consumer.

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Keywords: DBS, JD Logistics, SCF, Hong Kong, SMEs, partnership, ecommerce, cross-border payments, banking, digital banking, blockchain, financing , cash flow
Categories: Banking & Fintech
Countries: Hong Kong
This article is part of category

Banking & Fintech