DBS partners two P2P lending platforms in bank-fintech collaboration

Singapore

IN a first-of-its-kind collaboration between established financial institutions and emerging fintechs (financial technology startups), DBS Bank has signed cross-referral agreements with two homegrown peer-to-peer (P2P) lending platforms, Funding Societies and MoolahSense.

This enables DBS to refer to the lending platforms some of the smaller businesses that the bank is unable to lend to. In return, the lending platforms will refer borrowers who have completed two successful rounds of fund-raising to DBS for larger commercial loans and other financial solutions such as cash management.