XTransfer and Kasikornbank (KBank), a regional monetary establishment within the AEC+3 market, have signed a MoU on the Singapore Fintech Pageant 2025.
The partnership seeks to offer cross-border monetary options for SMEs engaged in commerce throughout ASEAN markets.
The collaboration will give attention to home and cross-border cost options, international change (FX) conversion, and operational integration to help commerce effectivity.
Underneath the MoU, the events will assess and develop cross-border cost options, together with home and worldwide collections and funds, in addition to FX conversion, tailor-made for SMEs in Thailand, Indonesia, and Vietnam.
Utilizing utility programming interfaces (APIs) and digital platforms, XTransfer and KBank purpose to allow automated, real-time FX conversion and transaction processing.
The collaboration is meant to enhance scalability, effectivity, and reliability for shoppers.
The partnership additionally anticipates nearer operational integration, together with enhanced system connectivity, standardised reporting, and straight-through processing to enhance threat administration and repair efficiency.
As well as, XTransfer and KBank will discover lending options for Chinese language retailers to help working capital wants.
Invoice Deng, Founder and CEO of XTransfer, stated,
“This collaboration with KBank represents one other essential milestone in our mission to make cross-border commerce extra environment friendly and inclusive for SMEs throughout ASEAN. By combining KBank’s regional strengths, we purpose to assist shoppers cut back prices, enhance money stream, and improve transaction effectivity.”
Dr Karin Boonlertvanich, Government Vice President – Company Technique and Innovation Division Head at KBank, stated,
“Cross-border commerce and commerce in ASEAN has been increasing at a price of 8%, pushed by fast developments in digital know-how and synthetic intelligence. This digital transformation presents progress alternatives for SMEs, enabling them to scale effectively whereas decreasing transactional banking prices and mitigating related dangers.”
The partnership combines KBank’s regional community, spanning Thailand, Vietnam, Indonesia, and China, with XTransfer’s digital options to offer cross-border monetary companies.
The collaboration is designed to help SMEs in increasing operations, bettering effectivity, and strengthening competitiveness in worldwide commerce.
Featured picture credit score: XTransfer
