DBS Ties with FinLync to Rolls out Plug-and-Play APIs for Corporate Treasurers

DBS has partnered with FinLync, a privately-held, global fintech company transforming corporate finance and treasury offices by aggregating global banking APIs to deliver embedded real-time payments and cash management.

This will provide a simpler and more efficient way for corporates to digitalise their corporate treasury functions by leveraging DBS' extensive API suite RAPID.

The DBS-FinLync partnership will enable corporates to experience greater ease of integration, eliminating the need for complex implementation projects. With plug-and-play capabilities to integrate banking services through the bank's APIs into their workflows, corporates can now directly connect to and leverage DBS' extensive suite of cash management, workflow, trade, information and foreign exchange (FX) services in real-time. This helps corporates to accelerate the pace of automating their treasury operations and speed up their decision-making processes.

At the same time, with greater integration between DBS and its clients' corporate treasury and enterprise resource planning systems, corporates can also fully execute a range of treasury and finance functions seamlessly on their platforms, eliminating dependence on external treasury solutions. This enables treasury and finance teams to operate more efficiently and allows for significant transformation of their treasury services to meet the changing business environment.

Lim Soon Chong, Group Head of Global Transaction Services, DBS, said, "As digitalisation continues to gain pace in the world of business, seamless connectivity for corporates to their respective banks is increasingly key to maintaining a competitive edge. At DBS, we understand that our corporate clients demand both seamless connectivity and comprehensive banking solutions. Partnering with FinLync aligns with our broader digital transformation efforts to continually push the boundaries by removing the integration knots often associated with digitalising treasury operations, while consolidating functionalities for our clients on a single convenient platform."

Peter Klein, Chief Technology Officer and co-founder at FinLync said, "The savviest financial institutions recognise that bank APIs are steadily replacing legacy forms of corporate bank connectivity. We are proud to partner with DBS to enable their clients to more easily make use of DBS’ innovative bank API offerings. As corporate finance teams continue to shift an evolving macroeconomic environment, it is critical to drive greater efficiency into their workflow - and this partnership does just that."

(Source: Finextra)