DBS partners with FinLync to accelerate digitalisation of corporate treasury functions with plug-and-play bank API solutions
Singapore.21 Sep 2022
Enables corporates to integrate with DBS’ APIs to access an extensive suite of digital cash management, foreign exchange and supply chain offerings
Provides treasury and finance teams valuable access to real-time updates to enhance automation and decision-making processes round-the-clock
Singapore, 21 Sep 2022 - DBS has partnered with FinLync, a privately-held, global fintech company transforming corporate finance and treasury offices by aggregating global banking APIs to deliver embedded real-time payments and cash management. This will provide a simpler and more efficient way for corporates to digitalise their corporate treasury functions by leveraging DBS’ extensive API (Application Programming Interface) suite RAPID.
The DBS-FinLync partnership will enable corporates to experience greater ease of integration, eliminating the need for complex implementation projects, which are often tedious and costly. With plug-and-play capabilities to integrate banking services through the bank’s APIs into their workflows, corporates can now directly connect to and leverage DBS’ extensive suite of cash management, workflow, trade, information and foreign exchange (FX) services in real-time. This helps corporates to accelerate the pace of automating their treasury operations and speed up their decision-making processes – all of which are key in ensuring corporates stay ahead of the curve and optimise working capital.
At the same time, with greater integration between DBS and its clients’ corporate treasury and enterprise resource planning systems, corporates can also fully execute a range of treasury and finance functions seamlessly on their platforms, eliminating dependence on external treasury solutions. This enables treasury and finance teams to operate more efficiently and allows for significant transformation of their treasury services to meet the changing business environment.
Lim Soon Chong, Group Head of Global Transaction Services, DBS, said, “As digitalisation continues to gain pace in the world of business, seamless connectivity for corporates to their respective banks is increasingly key to maintaining a competitive edge. At DBS, we understand that our corporate clients demand both seamless connectivity and comprehensive banking solutions. Partnering with FinLync aligns with our broader digital transformation efforts to continually push the boundaries by removing the integration knots often associated with digitalising treasury operations, while consolidating functionalities for our clients on a single convenient platform.”
Peter Klein, Chief Technology Officer and co-founder at FinLync said, “The savviest financial institutions recognise that bank APIs are steadily replacing legacy forms of corporate bank connectivity. We are proud to partner with DBS to enable their clients to more easily make use of DBS’ innovative bank API offerings. As corporate finance teams continue to shift an evolving macroeconomic environment, it is critical to drive greater efficiency into their workflow – and this partnership does just that.”
As a leading digital bank, DBS offers an extensive suite of bank-delivered APIs enabling a broad range of corporate and retail banking services. The bank’s corporate APIs power a variety of use cases which help businesses to automate their treasury operations and solve for pain-points. Each API has been designed to allow companies of varying scale to simplify connectivity and increase productivity by performing a specific function related to executing transactions such as initiating a payment, or exchanging information – such as receiving instant notifications for a payment received. By accessing DBS’ banking solutions seamlessly through FinLync’s Apps, corporates can easily reduce efforts to reconcile transactions and to facilitate improvements in cash flow forecasting.
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 14 consecutive years from 2009 to 2022.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About FinLync
FinLync is a privately held, global fintech company transforming corporate finance and treasury offices by aggregating global banking APIs to deliver embedded real-time payments and cash management. FinLync’s ERP native apps and API connectivity empowers treasurers to optimize cash, make better, faster decisions, save time and reduce the resources needed to manage complex finance needs. FinLync’s largest clients include Fortune 500 and Fortune 2000 companies. The firm has employees from 18 different countries and offices in New York, Los Angeles and Singapore. For more information, visit https://www.finlync.com
The DBS-FinLync partnership will enable corporates to experience greater ease of integration, eliminating the need for complex implementation projects, which are often tedious and costly. With plug-and-play capabilities to integrate banking services through the bank’s APIs into their workflows, corporates can now directly connect to and leverage DBS’ extensive suite of cash management, workflow, trade, information and foreign exchange (FX) services in real-time. This helps corporates to accelerate the pace of automating their treasury operations and speed up their decision-making processes – all of which are key in ensuring corporates stay ahead of the curve and optimise working capital.
At the same time, with greater integration between DBS and its clients’ corporate treasury and enterprise resource planning systems, corporates can also fully execute a range of treasury and finance functions seamlessly on their platforms, eliminating dependence on external treasury solutions. This enables treasury and finance teams to operate more efficiently and allows for significant transformation of their treasury services to meet the changing business environment.
Lim Soon Chong, Group Head of Global Transaction Services, DBS, said, “As digitalisation continues to gain pace in the world of business, seamless connectivity for corporates to their respective banks is increasingly key to maintaining a competitive edge. At DBS, we understand that our corporate clients demand both seamless connectivity and comprehensive banking solutions. Partnering with FinLync aligns with our broader digital transformation efforts to continually push the boundaries by removing the integration knots often associated with digitalising treasury operations, while consolidating functionalities for our clients on a single convenient platform.”
Peter Klein, Chief Technology Officer and co-founder at FinLync said, “The savviest financial institutions recognise that bank APIs are steadily replacing legacy forms of corporate bank connectivity. We are proud to partner with DBS to enable their clients to more easily make use of DBS’ innovative bank API offerings. As corporate finance teams continue to shift an evolving macroeconomic environment, it is critical to drive greater efficiency into their workflow – and this partnership does just that.”
As a leading digital bank, DBS offers an extensive suite of bank-delivered APIs enabling a broad range of corporate and retail banking services. The bank’s corporate APIs power a variety of use cases which help businesses to automate their treasury operations and solve for pain-points. Each API has been designed to allow companies of varying scale to simplify connectivity and increase productivity by performing a specific function related to executing transactions such as initiating a payment, or exchanging information – such as receiving instant notifications for a payment received. By accessing DBS’ banking solutions seamlessly through FinLync’s Apps, corporates can easily reduce efforts to reconcile transactions and to facilitate improvements in cash flow forecasting.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 14 consecutive years from 2009 to 2022.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About FinLync
FinLync is a privately held, global fintech company transforming corporate finance and treasury offices by aggregating global banking APIs to deliver embedded real-time payments and cash management. FinLync’s ERP native apps and API connectivity empowers treasurers to optimize cash, make better, faster decisions, save time and reduce the resources needed to manage complex finance needs. FinLync’s largest clients include Fortune 500 and Fortune 2000 companies. The firm has employees from 18 different countries and offices in New York, Los Angeles and Singapore. For more information, visit https://www.finlync.com
