{"id":10200,"date":"2022-10-19T18:43:17","date_gmt":"2022-10-19T17:43:17","guid":{"rendered":"https:\/\/10.81.104.155\/int\/?post_type=article&#038;p=10200"},"modified":"2023-03-10T00:46:37","modified_gmt":"2023-03-10T00:46:37","slug":"digitalizing-for-the-future","status":"publish","type":"article","link":"https:\/\/sponsorcontent.cnn.com\/int\/dbs-truly-transformative\/digitalizing-for-the-future\/","title":{"rendered":"Digitalizing for the Future"},"content":{"rendered":"\n  <style>\n    @media (min-width: 980px) {\n      .wp-block-hero__heading { font-size: 78px !important}\n      .wp-block-hero__sub-heading { font-size: 28px !important}\n    }\n  <\/style>\n\n<article class=\"wp-block-hero break-out\">\n\n      <div class=\"wp-block-hero__background\">\n                        <img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-hero.jpg\" alt=\"\" class=\"wp-block-hero__background__image wp-block-hero__background__image--desktop lazy\">\n              \n          <\/div>\n  \n  <i class=\"wp-block-hero__overlay\" aria-hidden=\"true\"><\/i>\n\n  \n      <i\n    aria-hidden=\"true\"\n    class=\"wp-block-hero__custom-overlay\"\n    style=\"background-color:#000000;opacity:0.15\"><\/i>\n  \n  \n  <div class=\"wp-block-hero__intro-wrap container\">\n    <h1 class=\"wp-block-hero__heading\">Digitalizing<br>for the Future<\/h1>\n  \n      <\/div>\n\n\n  \n    <div class=\"wp-block-hero__content-by wp-block-hero__content-by--wrap container\">      \n      <ul class=\"wp-block-hero__logos\">\n                  <li class=\"wp-block-hero__item\">\n\n                          <a href=\"https:\/\/www.dbs.com\/dbsdigibanking\/index.html?tab=dbs-ibg\" target=\"_blank\" rel=\"sponsored noopener\">\n            \n                          <img data-src=https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2021\/06\/DBSlogo_white-300x88.png alt=\"\" class=\"wp-block-hero__icon lazy\">\n            \n                          <\/a>\n            \n          <\/li>\n              <\/ul>\n    <\/div>\n    \n  <\/article>\n\n\n\n<p class=\"has-text-align-center has-large-font-size\">By embracing innovative and data-driven digital solutions, small and medium-sized enterprises (SMEs) can improve their day-to-day operations, tap into growth opportunities, and lay the foundation for long-term success.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"has-drop-cap\" style=\"--pad:-2px;\"><span style=\"color:#cc0200;margin-right:0em\" class=\"has-inline-color\">G<\/span>S1 Hong Kong has been helping businesses embrace standards and technologies for more than 30 years. When the global standards organization arrived in the bustling Asian metropolis in 1989, one of its first tasks was getting businesses, including many SMEs, to digitalize their checkout processes and inventory management by swapping handwritten price tags for barcodes.<br><br>Since ushering in the barcode revolution, GS1 Hong Kong has also introduced an online platform for B2B trade, facilitated omnichannel commerce and rolled out a suite of other solutions that cover everything from product traceability to IoT solutions and cold chain management. These innovations serve different purposes, but they all have one thing in common \u2013 all use smart technologies to empower businesses.<br><br>\u201cFor years, GS1 Hong Kong has used global standards to drive our \u2018Go Digital, Go Smart\u2019 initiatives,\u201d says GS1 Hong Kong CEO, Anna Lin, explaining that one of the core missions of the non-profit organization is to support digital transformation to improve the way businesses work.<\/p>\n\n\n<figure class=\"wp-block-image wp-block-image--default \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro.jpg 1542w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-826x464.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-600x337.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-520x292.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-intro-260x146.jpg 260w\" width=\"1542\" height=\"867\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">GS1 Hong Kong began helping businesses embrace new technologies in 1989 by encouraging SMEs to adopt barcodes and standard-based solutions.<\/figcaption><\/figure>\n\n\n<div class=\"wp-block-group has-white-color has-black-background-color has-text-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-cnn-heading\"><h2 id=\"one-click-solutions\" class=\"wp-block-cnn-heading__heading\">One Click Solutions<\/h2><div class=\"wp-block-cnn-heading__content\"><p>Staying true to this commitment, the organization recently partnered with DBS to launch an innovative digital post-shipment trade financing solution. The solution leverages DBS\u2019s cutting-edge technology, including its predictive analytics capabilities, to make trade financing easier for SMEs on GS1 Hong Kong\u2019s ezTRADE B2B community platform. With users\u2019 consent, the bank can tap into businesses\u2019 historical data on ezTRADE to conduct credit assessments and then provide same-day financing, the amount of which is calculated based on real-time data to access credit that is updated on a dynamic and recurring basis.<\/p><\/div><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><figure class=\"wp-block-image wp-block-image--large \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2.jpg 1920w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-826x465.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-600x338.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-520x293.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-01-2-260x146.jpg 260w\" width=\"1920\" height=\"1080\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">The organization\u2019s digital solutions make trade financing easier for SMEs.<\/figcaption><\/figure><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><figure class=\"wp-block-image wp-block-image--large \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02.jpg 1920w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-826x465.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-600x338.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-520x293.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-02-260x146.jpg 260w\" width=\"1920\" height=\"1080\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">Same-day financing is available through its ezTRADE community platform.<\/figcaption><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<p>By freeing SMEs of the time-consuming and laborious paperwork traditionally required when applying for trade financing from banks, this one-click solution not only improves businesses\u2019 cash flow for day-to-day operations but also allows them to focus on their products, services and scaling for long-term success.<br><br>For Lin, DBS is the perfect partner for creating this financing solution powered by alternative data. \u201cDBS, among the banks that we have been working with, is very innovative and very willing to go the extra step,\u201d she explains. The bank\u2019s commitment to empowering SMEs also meant that they were able to develop a dynamic solution \u201cfrom the perspective of the user\u201d and launch it within half a year, Lin adds.<\/p>\n\n\n<figure class=\"wp-block-image wp-block-image--default \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2.jpg 1920w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-826x465.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-600x338.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-520x293.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-03-2-260x146.jpg 260w\" width=\"1920\" height=\"1080\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">One-click solutions make applying for trade finance more efficient.<\/figcaption><\/figure>\n\n\n<p>Since its rollout in June, the solution has already made a positive impact on SMEs such as Come In Enterprises Co. Ltd., a seasoning and gourmet foods company that has been operating in Hong Kong for more than 30 years.<\/p>\n\n\n\n<p><span style=\"display:inline-block;line-height:36px;font-size:26px;letter-spacing:0.02em\"><span style=\"color:#cc0200\">\u201cThe trade financing solution co-created by DBS and GS1 Hong Kong makes life easier for SMEs. I can now obtain trade financing with one click via DBS online banking instead of needing to submit application forms and other supporting documents manually to the bank. My team and I are glad that we have a new avenue to quickly raise working capital and support Come In\u2019s business growth and expansion.\u201d<\/span><br><span style=\"display:inline-block;line-height:16px;font-size:12px\"><br><br>&#8211; Kam Sang Chan, Chairman, Come In Enterprises<\/span><\/span><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><figure class=\"wp-block-image wp-block-image--large \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2.jpg 1920w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-826x465.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-600x338.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-520x293.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-Sec1-04-2-260x146.jpg 260w\" width=\"1920\" height=\"1080\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">Come In&#8217;s Kam Sang Chan says trade financing solutions make life easier for SMEs.<\/figcaption><\/figure><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><figure class=\"wp-block-image wp-block-image--large \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2.jpg 1920w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-826x465.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-600x338.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-520x293.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec1-05-2-260x146.jpg 260w\" width=\"1920\" height=\"1080\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">SMEs like Come In are able to quickly raise working capital to support growth.&nbsp; &nbsp;  &nbsp;&nbsp;&nbsp;&nbsp;<\/figcaption><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-white-color has-black-background-color has-text-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-cnn-heading\"><h2 id=\"overcoming-digital-barriers\" class=\"wp-block-cnn-heading__heading\">Overcoming Digital Barriers<\/h2><div class=\"wp-block-cnn-heading__content\"><p>The trade financing solution is just one example of DBS\u2019s wider, and ongoing commitment to supporting SMEs on their digitalization journeys. This mission is especially important given that SMEs constitute more than <a href=\"https:\/\/www.tid.gov.hk\/english\/smes_industry\/smes\/smes_content.html\" target=\"_blank\" rel=\"sponsored\">98% of business establishments in Hong Kong<\/a>, making them the backbone of the local economy.<\/p><\/div><\/div>\n\n\n<figure class=\"wp-block-image wp-block-image--large \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-100x56.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01.jpg 1920w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-300x169.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-1024x576.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-768x432.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-1536x864.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-1247x701.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-826x465.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-600x338.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-100x56.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-520x293.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-sec2-01-260x146.jpg 260w\" width=\"1920\" height=\"1080\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">For many businesses the costs of adopting new technology and the availability of talent remain barriers to digitalization.<\/figcaption><\/figure><\/div>\n\n\n\n<p>While most SMEs recognize the necessity of embracing technology, especially in light of recent disruptions caused by the pandemic and other global uncertainties, the pace of their digitalization still lags behind that of larger corporations. According to the <a href=\"https:\/\/www.dbs.com.sg\/corporate\/research-and-insight\/insights\/treasuryprism\/digitalreadiness\/sme\" target=\"_blank\" rel=\"sponsored\">2021 DBS Digital Readiness Survey<\/a>, only <a href=\"https:\/\/www.dbs.com\/newsroom\/Digital_transformation_remains_core_agenda_for_large_corporates_middle_market_companies_and_SMEs_in_Asia_Pacific\" target=\"_blank\" rel=\"sponsored\">41% of SMEs in Asia<\/a> have a digital transformation plan in place. For many of these businesses, the costs of adopting new technology and the availability of talent remain barriers to their digitalization.<br><br>To help SMEs overcome these barriers so they can stay agile and competitive, DBS has ramped up its efforts in recent years to roll out digital banking initiatives that address different business pain points. For example, the bank offers SMEs the ability to open business accounts digitally in as quickly as three working days. Meanwhile, its mobile-first banking platform, DBS IDEAL, provides services from on-the-go payments, to real-time tracking of cross-border collections. And to provide more comprehensive support to businesses\u2019 digitalization needs, DBS has made it a core priority to invest in ecosystem partnerships like the one with GS1 Hong Kong.<\/p>\n\n\n<figure class=\"wp-block-image wp-block-image--default \"><img data-src=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-100x67.jpg\" data-srcset=\"https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL.jpg 2048w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-300x200.jpg 300w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-1024x681.jpg 1024w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-768x511.jpg 768w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-1536x1022.jpg 1536w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-1247x829.jpg 1247w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-826x549.jpg 826w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-600x399.jpg 600w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-100x67.jpg 100w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-520x346.jpg 520w, https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/11\/2022-DBS-AF2-GS1-IDEAL-260x173.jpg 260w\" width=\"2048\" height=\"1362\" alt=\"\" class=\"wp-block-image__image lazy\"><figcaption class=\"wp-block-image__caption\">DBS IDEAL is a personalized platform that lets businesses manage transactions online.<\/figcaption><\/figure>\n\n\n<p><span style=\"display:inline-block;line-height:36px;font-size:26px;letter-spacing:0.02em\"><span style=\"color:#cc0200\">\u201cIn order to support SMEs, it is important for DBS to not only be providing digital solutions but also to leverage ecosystem partnerships and bring bigger impact. By connecting our products and services into our partners\u2019 supply chains and ecosystems, we can create seamless and invisible solutions for both new and existing DBS customers.\u201d<\/span><br><span style=\"display:inline-block;line-height:16px;font-size:12px\"><br><br>&#8211; Sebastian Paredes, CEO, DBS Hong Kong<\/span><\/span><\/p>\n\n\n\n<p>By working with ecosystem partners like GS1 Hong Kong, DBS continues to empower SMEs to embrace a technology-driven future, and deliver transformative solutions for thriving business communities across its global markets.<br><br><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n\t<article class=\"wp-block-video\">\n\t\t<figure class=\"container\">\n\t\t\t<div class=\"wp-block-video__wrapper\">\n\n\t\t\t\t<div\n\t\t\t\tdata-plyr-provider=\"vimeo\"\n\t\t\t\tclass=\"wp-block-video__player\"\n\t\t\t\tdata-plyr-provider=\"vimeo\"\n\t\t\t\tdata-plyr-embed-id=\"https:\/\/vimeo.com\/773143590\"\n\t\t\t\t><\/div>\n\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t<\/article>\n\n\n\n\n<article class=\"wp-block-related-content break-out\">\n  <div class=\"container\">\n\n          <h2 class=\"wp-block-related-content__heading\">READ MORE<\/h2>\n    \n          <div class=\"wp-block-related-content__grid wp-block-related-content__grid--large\">\n\n                  <article class=\"wp-block-related-content__item\">\n            <a\n            href=\"https:\/\/sponsorcontent.cnn.com\/int\/dbs-truly-transformative\/a-way-of-life\/\"\n            class=\"wp-block-related-content__link\"\n            target=\"_self\"\n                        >\n\n                              <div class=\"wp-block-related-content__media\">\n                  <img data-src=https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/10\/2022-DBS-AF1-Hawker-hero-FINAL-1024x523.jpg alt=\"\" class=\"wp-block-related-content__image lazy\">\n                <\/div>\n              \n                              <h3 class=\"wp-block-related-content__title\">A Way of Life<\/h3>\n              \n            <\/a>\n          <\/article>\n                  <article class=\"wp-block-related-content__item\">\n            <a\n            href=\"https:\/\/sponsorcontent.cnn.com\/int\/dbs-truly-transformative\/digital-financial-solutions\/\"\n            class=\"wp-block-related-content__link\"\n            target=\"_self\"\n                        >\n\n                              <div class=\"wp-block-related-content__media\">\n                  <img data-src=https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/12\/AF4-2022-DBS-hero-1024x683.jpg alt=\"\" class=\"wp-block-related-content__image lazy\">\n                <\/div>\n              \n                              <h3 class=\"wp-block-related-content__title\">Building an Inclusive Digital Economy<\/h3>\n              \n            <\/a>\n          <\/article>\n        \n      <\/div>\n    \n  <\/div>\n<\/article>\n\n\n<article class=\"wp-block-related-content break-out\">\n  <div class=\"container\">\n\n    \n          <div class=\"wp-block-related-content__grid wp-block-related-content__grid--large\">\n\n                  <article class=\"wp-block-related-content__item\">\n            <a\n            href=\"https:\/\/sponsorcontent.cnn.com\/int\/dbs-truly-transformative\/bridging-the-gap\/\"\n            class=\"wp-block-related-content__link\"\n            target=\"_self\"\n                        >\n\n                              <div class=\"wp-block-related-content__media\">\n                  <img data-src=https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2022\/12\/2022-AF3-DBS-hero-1024x576.jpg alt=\"\" class=\"wp-block-related-content__image lazy\">\n                <\/div>\n              \n                              <h3 class=\"wp-block-related-content__title\">Bridging the Gap<\/h3>\n              \n            <\/a>\n          <\/article>\n                  <article class=\"wp-block-related-content__item\">\n            <a\n            href=\"https:\/\/sponsorcontent.cnn.com\/int\/dbs\/emerging-stronger\/\"\n            class=\"wp-block-related-content__link\"\n            target=\"_self\"\n                        >\n\n                              <div class=\"wp-block-related-content__media\">\n                  <img data-src=https:\/\/sponsorcontent.cnn.com\/int\/wp-content\/uploads\/2021\/08\/DBS_Hub_hero_01-1024x683.jpg alt=\"\" class=\"wp-block-related-content__image lazy\">\n                <\/div>\n              \n                              <h3 class=\"wp-block-related-content__title\">Emerging Stronger<\/h3>\n              \n            <\/a>\n          <\/article>\n        \n      <\/div>\n    \n  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More        <\/a>\n      \n      \n    <\/div>\n  <\/div>\n<\/article>","protected":false},"featured_media":10748,"template":"","class_list":["post-10200","article","type-article","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Digitalizing for the Future - DBS - CNN<\/title>\n<meta name=\"description\" content=\"Discover how DBS is helping SMEs embrace a technology-driven future\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sponsorcontent.cnn.com\/int\/dbs-truly-transformative\/digitalizing-for-the-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Find out how DBS supports SMEs on their digitalization journeys\" 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