B2B Commerce, OCBC collaborate to facilitate SME crossborder transactions

KUALALUMPUR: B2BCommerce (M) Sdn Bhd and OCBC Bank (Malaysia) Bhd have entered into a strategic partnership to support small medium enterprises (SMEs) to actively participate at the global level.

Via this partnership, B2B Commerce is now Malaysia’s first home-grown company, to facilitate cross-border business-to-business (B2B) electronic trade settlements for the SMEs.

This involves mainly those from the fast moving consumer goods industry ( FMCG), commerce director and chief executive officer Dr Lee Thean Seong said in a joint statement yesterday.

He said B2B Commerce had launched its new online platform, www.b2bdaigor.com, to help SMEs contain costs, whilst minimising the hassle related to cross-border transactions.

“We will help bridge the gap between online and offline markets for them in Southeast Asia and China. Through our existing ecosystem we are already serving more than 12,000 FMCG suppliers in these regions,” he added.

Lee said the company as such is working on getting these suppliers to be part of b2bdaigor.com for their export and import business.

“While b2bdaigor enables SMEs to expand their market reach globally and manage transactions digitally, OCBC Bank will facilitate the settlement dimensions, so that global financial transactions run smoothly and seamlessly,” he said.

Meanwhile, OCBC Bank head of global transaction banking Chong Lee Ying said the bank is looking forward to helping more SMEs meet their ongoing digital banking needs.

“We have in recent times explored several digital initiatives, including rolling out the country’s first mobile business banking app.

“This strategic partnership with B2B Commerce is a significant step towards helping SMEs meet their needs at a global level,” she added. — Bernama