Singapore-based finTech company, Atlantis has announced the launch of its digital platform for Small and Medium Businesses known as BizBank. The new platforms’ mission is to provide SMBs with an all-inclusive technology-based financial and business platform to enhance growth in the digital age.
According to the company, SMBs account for 70% of SE Asia’s GDP and between 52% and 97% of employment. There are 310 million digital consumers in the region, fueling a tremendous growth in digital commerce and online spending.
As the existing tools and solutions in the market are quite fragmented and often do not cater to every size and scope of SMB operations, BizBank aims to be the solution provider. Its cost-effective financial solutions will help remove barriers faced by SMBs, unlocking economic growth in the region.
According to media reports Sruthi Srinivasan, COO of BizBank said, “We are building a ‘bank-in-a-box’ for small and medium businesses. Using our end-to-end platform, SMBs can digitize their operations and spend more time on their core activities – revenue growth and business expansion.”
To begin with leveraging the best of the emergent technological innovations Bizbank’s initial product is a corporate expense card designed specially to reduce SMB spending.
The corporate card provides small and medium enterprise owners with convenience and flexibility, bank-grade security, and full visibility and control of their spending. Bizbank also aims to introduce expense management, billing, and a variety of credit products across Southeast Asia in the coming months.