HSBC paves way for SMEs to access receivables finance quicker
Using Singapore's Networked Trade Platform, funding can be obtained in just 15 minutes instead of a day traditionally
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Singapore
HSBC on Tuesday said it has closed the first receivables financing deal on Singapore's Networked Trade Platform (NTP), paving the way for small and medium-sized enterprises (SMEs) to access funding in just 15 minutes, down from a day traditionally.
The NTP, launched by the government in September 2018, is a platform which digitises paperwork to make government certification and third-party commercial services simpler.
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