The partnership between the two companies will focus on supply chain financing (SCF) solutions, initially targeting the building construction sectors. The collaboration, known as Doxa Connex, aims to expand its services to other industries in the future. In essence, positioned within Maybank's Malaysia-Singapore trade corridor strategy, Doxa Connex aims to broaden Maybank's SCF solutions for large corporations and small and medium enterprises (SMEs) in Singapore and Malaysia.
Some of the most important features of the SCF solutions include integrated payment solutions, digitised documentation, and financing options integrated within the supply chain, alongside green trade financing modules. These elements come together to form a comprehensive offering for clients facing supply chain challenges.
In light of this new partnership, representatives from Doxa cited by theedgesingapore.com emphasised the importance of delivering efficient solutions to clients, particularly addressing the costs associated with trade financing and technology. In turn, representatives from Maybank Singapore highlighted the evolving preferences of clients towards digitised, sustainable, and resilient supply chain ecosystems and financing practices, driven by technological advancements and green transitions. They described the partnership with Doxa as a means for Maybank to improve its transaction banking business, integrating it seamlessly with beyond-banking capabilities in its future plans.
They also noted the alignment of the collaboration with Maybank's commitment to supporting clients' decarbonisation efforts, emphasising sustainability as a key aspect of the bank's strategic priorities. According to theedgesingapore.com, Maybank has already directed USD 19 billion towards sustainable finance across the group from 2021 to 2023.
In April 2023, Maybank partnered with Mercedes-Benz Financial to release a co-branded, metal credit card in Malaysia on the Visa payment network. At the time, Visa was named as the exclusive payment network for the offering under the partnership. Mercedes-Benz revealed in a statement that the card was the first of its kind that was made of metal and co-branded in the Malaysian automotive landscape.
Moreover, Mercedes-Benz officials said the company was thrilled to launch its first exclusive branded metal credit card along with Maybank and Visa that complement customers' luxury brand experience. In essence, the Mercedes-Benz Card was designed to elevate the experience of the car brand’s clients.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now