Olea, Standard Chartered forge alliance to empower SMEs

The alliance signals a proactive effort to support SMEs by leveraging digital innovation and financial services.

Olea Global Pte Ltd (Olea) and Standard Chartered have formalised a memorandum of understanding to drive growth for small and medium-sized enterprises (SMEs).

Under the agreement, both entities will explore integrated strategies spanning various sectors, with a primary focus on devising supply chain solutions tailored for Standard Chartered's SME Banking clientele. 

The collaboration will also harness the innovative products and digital infrastructure of Olea alongside the robust banking and funding capabilities of Standard Chartered.

Additionally, it will explore opportunities for joint ventures in product innovation and service provision, targeting SMEs in key markets.

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“This partnership brings together technology, financial sophistication with customer reach, and allows us to create trade solutions designed for the SME sector,” said Amelia Ng, CEO of Olea.

“In addition to providing the essential human touch, we are committed to working with industry partners such as Olea to strengthen our suite of tools and solutions and further enhance the client experience for busy entrepreneurs,” added Xie Wen, Global Head, SME Banking, Standard Chartered.