, Singapore
476 views

DBS, Xero simplifies SMEs loan application with data-sharing partnership

Xero customers now has the option of sharing their transaction records to DBS.

DBS has deepened its partnership with Xero to simplify the loan application process by giving Xero customers in Singapore and Hong Kong the option of sharing their transaction records from the digital platform to DBS.

This will reportedly allow the bank to offer small and medium enterprises (SMEs) more hyper-personalized credit terms and working capital limits tailored to their needs.

The deepened partnership between the companies–which began in 2017–follows after the DBS SME Pulse Check Survey found that over 85% of SMEs indicate ensuring consistent cash flow and managing costs as a key business priority in 2022.

DBS and Xero began their partnership in 2017 with a bank feed integration to give SMEs greater visibility and control over their finances with automatic bank updates. 

Xero is also a key partner of the bank’s DBS Start Digital Package, which is designed to help SMEs kickstart their digital transformation journey. 

To date, close to 400 SMEs in Singapore have tapped on Xero’s all-in-one solution to digitalise their accounting function through the DBS Start Digital Package, according to the bank.

Follow the links for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!