Standard Chartered and US-based fintech platform upSWOT have launched a business analytics solution in Singapore that will offer small- and medium-sized enterprises (SMEs) clients insights and forecasting capabilities on a single digital platform.
Through the new solution, Standard Chartered’s SME clients can connect the business apps that they use with upSWOT to generate real-time insights and dashboard analysis using the data aggregated.
upSWOT can collect, integrate and reconcile banking transactions and business data from apps that provide services from accounting, e-commerce and marketing to customer relationship management.
With improved visibility of their cash flow, inventory and return on investment, SMEs can make better business decisions including cash flow planning, marketing and sales tactic, and financing requirements such as working capital and credit lines, Standard Chartered says.
“Standard Chartered is deeply committed to supporting SMEs in our markets, and our initiative with upSWOT is a perfect example of the Bank providing beyond-banking capabilities to our clients and proactively supporting their business growth. “We will continue to extend to our SME clients innovative solutions that will help digitise their business.”Rebecca Licciardi, Head of business banking partnerships and digital transformation, Standard Chartered
Dmitry Norenko, CEO of upSWOT, comments: “Large companies across the globe are implementing modern data technologies. This pilot solution will enable small businesses to remain competitive vis-a-vis their larger peers and continue to deliver strong growth amid challenging circumstances. We are excited to work with Standard Chartered to support the incredibly vibrant SME sector, a key contributor to the economy.”