SAVILLS PARTNERS WITH SINGAPORE NEOBANK BANCO PLATFORM
PR95201
SINGAPORE, March 29, 2022 /PRNewswire=KYODO JBN/ --
- ON DIGITALISATION, SUPPLIERS' FINANCING AND ESG
Leading real estate advisor, Savills (Singapore) Pte Ltd, today announced a
strategic partnership with neobank banco platform, a Singapore FinTech company.
The two groups intend to digitise financing solutions in the property industry
with an immediate focus on improving access and more competitive financing
options to suppliers and service providers, enhancing sustainability practices
through accredited green financing options.
Transforming payments through digital processes, neobank banco platform (i.e.
online only financing), simplifies the issuance and payments between Strata
Management stakeholders creating greater transparency, compliance, and
governance for all. At the same time, banco and Savills will provide easy
access to supply chain financing and early payment solutions to the many small
to medium enterprises in the sector, making cash and working capital management
solutions more readily available at a lower cost, to a group who have
historically found access to such solutions expensive and difficult to manage.
In line with Singapore's aspirational "Green Plan 2030" and given Deloitte's
estimate that the property sector is responsible for 40 per cent of global
carbon emissions, there is a need for every aspect of the property management
supply chain to work on reducing its carbon footprint. In creating a payment
and financing gateway, the team will create an ecosystem around "green
financing" which will ultimately power local businesses' access to supply chain
financing to assist in reducing their own carbon footprint.
Technology will continue to play a critical role in overcoming the industries
many challenges, whether digitising current processes, leveraging new
technologies to ease the manpower crunch or adopting a more data-driven
approach to solving solutions, all will make the industry future-fit.
Marcus Loo, Chief Executive Officer, Savills Singapore, said: "This strategic
partnership with a Fintech specialist like banco platform will truly enable us
to elevate our service offering to clients in the MCST industry. Savills is
excited to roll out some of the platforms that will help resolve our clients'
pain points by digitally connecting the payment ecosystem on to a single
platform, making the entire payment process efficient, transparent, and
hassle-free."
"The property management sector has a lot of potential to leverage technology.
We are therefore delighted to be partnering with Savills, Singapore's largest
private MCST Managing Agent, to ease many of the problems this industry faces
in transforming their payments, banking and financing processes, making them
more accessible, more efficient and future-proof businesses," said Lincoln Yin,
Co-founder and CEO of banco platform.
"This is an exciting collaboration bringing together Savills' extensive
property management portfolio and industry expertise with banco platform's
cutting edge FinTech capabilities, and in doing so bring meaningful solutions
to the industry and playing our part to improve ESG. I truly believe this will
become a widely adopted solution platform not just in Singapore, but one for
the whole region," commented Chris Marriott, CEO South East Asia, Savills.
About Savills
Savills is a leading global real estate service provider listed on the London
Stock Exchange. The company, established in 1855, has a rich heritage with
unrivalled growth. It is a company that leads rather than follows and now has
over 700 offices and associates throughout the Americas, Europe, Asia Pacific,
Africa and the Middle East.
About banco platform
Founded in 2018, banco platform launched by RootAnt Group, is a Singapore-based
FinTech company with investors such as SBI group, a financial services company
group based in Tokyo, Japan (TYO: 8473), R3 and other strategic investors.
Through its product offerings, the firm solves current challenges faced by SMEs
by providing better, faster and cheaper financial and enterprise solutions on
the digital financing platform.
Source: Banco
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