International Finance

Standard Chartered ups SME play in Singapore to fight fintechs

Sage cash management solution
Sage CashView reporting tool enables enterprises to simplify SME loan applications and review real-time data

Sage and Standard Chartered have launched a digital cash flow solution to help SMEs address funding needs in Singapore. Sage is a British multinational software enterprise. 

The solution is called Sage CashView. Essentially, the solution will streamline SME banking and assist them during critical financial decisions. 

Sage CashView comprises cash flow reporting tools with a prequalification to apply for Standard Chartered’s business installment loans, the Business Times reported. Sage CashView is available to both current and new users in Singapore and Malaysia. 

SMEs are important to Asian economies, especially in the areas of income generation and employment opportunities—but face challenges in cash flow management. For that reason, Sage CashView is built to address their pain points by offering real-time data into their financial status. 

SMEs can view their business key ratios and results on the Sage CashView dashboard. This is the data that Standard Chartered can use to prequalify SMEs for their loan application. A message will appear on the dashboard to inform businesses that they are prequalified for a business installment loan. However, Standard Chartered will be able to view only information relevant for loan application process. The dashboard has other features such as one to 365-days financial forecasting to help SMEs anticipate future financial setbacks. 

Kerry Agiasotis, Sage’s executive vice-president of Asia-Pacific, told the Business Times, “If you think about the two primary things that are occurring—one, it’s the identification of the need, and then it’s the confirmation that there is a solution for you. When you think about most of the bank offerings or most other offerings, those two things don’t come together fully.”

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