Maybank & Doxa team to offer supply chain financing solutions

By Gloria Mathias

Maybank has signed an MoU with Singapore-based FinTech Doxa Holdings International to provide supply chain financing solutions for market players in the building and construction sector and later for other industries.

Maybank will be able to expand its solutions to better serve large corporates and SMEs in Singapore and Malaysia as a leading bank for Malaysia-Singapore transactions.

Doxa Connex is the partnership name that will eventually grow into other sectors. Doxa Connex will allow Maybank to expand its SCF solutions to large corporates and small and medium companies (SMEs) in Singapore and Malaysia as part of the bank’s strategic bid for the Malaysia-Singapore trade corridor.

As a comprehensive offering to help clients manage their supply chain difficulties and requirements, the SCF solutions include embedded finance choices, integrated payments solutions, and digitalization of documents, in addition to green trade financing modules.

Alvin Lee CEO of Maybank Singapore, said, “With this collaboration with Doxa, Maybank can accelerate its transaction banking business to be more integrated and seamless, including beyond-banking capabilities in our future roadmap.”

Adrain Ler, Head of Transaction Banking, at Maybank Singapore, added, “The industry is also shifting towards more sustainable practices with rising demand for green trade finance. Our goal is to provide holistic solutions to enable clients to achieve their decarbonisation goals and seize regional opportunities while managing capital efficiently.”

Doxa Connex is an enterprise cloud-based SaaS platform for SMEs that leverages modern technologies like blockchain, microservices, cloud computing, and AI to revolutionise connectivity between buyers and suppliers in their supply chain transaction process. This also enables, facilitates, and accelerates financing for all parties.