Singapore’s MSME-Focused Digital Bank Green Link Debuts

Green Link Digital Bank (GLDB) has begun operating, with the new financial institution offering banking for micro, small, and medium-size enterprises (MSMEs), offering to help them with supply chain financing and tech solutions.

GLDB helps underserved businesses with accessible commercial banking, looking into expanding its service coverage to the digital economy. And the bank wants to help businesses boost their service quality and become “a leader in wholesale banking.”

“The commencement of Green Link Digital Bank’s operations in Singapore symbolizes a major milestone. It drives to strengthen the core pillars in digitalization, technological empowerment and green finance,” said Geng Jing, GLDB chairman.

Meanwhile, Song Qun, GLDB vice chairman, said the plan was to bring “cutting-edge” tech for smaller businesses.

He added that the bank wanted to look more at new ways to branch out including “AI, blockchain, cloud computing, and big data (ABCD) in supply chain finance,” and it wants to incorporate environmental, social and governance (ESG) ideas to help their work become more sustainable.

See also: Survey: Financial Customers Value Security, Consistency

PYMNTS wrote recently that customers value security and a solid user experience highly when they’re looking for financial providers.

The research found that 80% of customers say having a good user experience makes a big difference on whether they trust their financial providers.

A big part of that comes down to consistency, and 53% of consumers said a consistent experience in things like online banking, app banking and eCommerce would make them more likely to use a bank.

While 31% said this had a “moderate” impact for them, the numbers rise among people who access accounts mostly from their phones or on a number of different environments.