Singapore – One in two businesses in Singapore have said that they need better fintech solutions to address their own business challenges, a new report from Rapyd has noted, centred around B2B cross-border payments.

Approximately 60% of respondents from Singapore expressed confidence in prevailing market conditions, indicating a measured level of trust in their business environment.

The data also highlighted that 43% of B2B companies in Singapore incur cross-border fees ranging from US$10 to US$25 per transaction. This rate is above the average observed across the surveyed markets, where approximately 36% of businesses face cross-border transaction fees within the same US$10 to US$25 range.

Conversely, local enterprises have identified increasing interest rates (53%) and a reduction in incoming work (43%) as their primary concerns. This indicates that Singapore businesses are closely tracking financial developments and their potential impact on the demand for their products and services.

Meanwhile, around 48% of respondents from Singapore identified ‘better fintech solutions’ as the paramount factor in addressing their most pressing business concerns. This percentage surpasses any other category in Singapore and demonstrates that B2B businesses in the country prioritise fintech as a way to solve business problems more than their counterparts in any other country surveyed.

Despite Singapore being one of the world’s most advanced payment markets, many B2B businesses have yet to adopt digital payments. This presents a valuable opportunity for these enterprises to collaborate with innovative fintech firms and embrace modern payment solutions to harness the full benefits of Real-Time Payment networks and streamline payment processes to enhance their operational efficiency.

Arik Shtilman, CEO, and co-founder of Rapyd, said, “Our latest B2B cross-border payment report highlights Singapore’s strong confidence in its business environment, while also showing a widespread desire for efficient and cost-effective fintech solutions. We understand how important it is to be efficient and adaptable in today’s ever-changing business world.”

He added, “With our recent addition of card acquiring services to our Fintech as a Service platform in Singapore, we’re doubling down on our promise to provide the innovative fintech solutions Singapore businesses are looking for that will empower them on their payment journey and help them handle payment complexities with confidence and ease.”

Singapore – Global logistics service provider J&T Express Singapore has announced new enhancements to its existing services and collaborations to meet the shifting retail demands of businesses and consumers. 

The new enhancements are part of J&T’s broader move to tap into the latest trends in the B2B retail landscape and better meet the needs of both businesses and consumers. 

First on the list of improvements for the logistics service provider is the launch of an all-in-one delivery solution to provide B2B transportation for businesses. This is an addition to their current e-commerce logistics services and will respond to the increasing demand for flexible logistics services in the retail industry that ensure efficient and cost-effective order fulfilment.

The all-in-one delivery service will offer businesses different vehicle and shipping options, such as single- and multi-way transfer options, warehouse transfers, ad-hoc transfers for parcel deliveries, and less than truck loads (LTL) or full truck loads (FTL), to support varying transportation needs at competitive rates. 

J&T Singapore is also elevating its customer experience as it rolls out a series of new features to its flagship mobile app, J&T Singapore App. The new features include an improved and more user-friendly interface that can now detect the nearest J&T Point to the user based on their location for hassle-free parcel drop-off. 

Furthermore, the logistics service provider is strengthening its ongoing partnership with TikTok Shop and multi-category second-hand marketplace Carousell Singapore. 

On top of its current services, J&T Express Singapore will also work closely with TikTok Shop to provide sales and marketing support. The partnership aims to help drive sales for sellers in the form of competitions and co-funded platform vouchers, showcasing its mission to be “customer-oriented and efficiency-based”.

Meanwhile, as the first logistics service provider to be exclusively integrated into Carousell Singapore’s platform, J&T Express Singapore will bring users more convenient delivery options with fully integrated pick-up service options. This will include the upcoming next-day delivery, self-drop-off at J&T Points located islandwide, and return shipping with complimentary label printing service.

Speaking on the partnership, Doven Yap, head of seller acquisition and incubation at TikTok Shop Singapore, said, “We are pleased to continue our collaboration with J&T Express Singapore. With the support of such a reliable logistics partner, our sellers are empowered to deliver a more seamless shopping experience for customers.” 

Sydney, Australia – To launch its new wealth management platform, CFS Edge, Colonial First State has created a tech-focussed B2B campaign with its agency, It’s Friday, positioning the innovative platform as ‘The New Possible’.

Developed with FNZ, a global wealth technology and services company backed by former US Vice President Al Gore’s investment group, CFS Edge is part of a $430m investment in technology by CFS over four years and promises to change the game for Australian advisers who service higher net wealth clients.

Josh Grace, customer office group executive at Colonial First State, said, “As the first major new platform in the wealth management sector for nearly a decade, CFS Edge demanded a bold new look, signalling that a new world has opened to advisors. This is technology that adapts to how they work, so it is, in almost every way, the New Possible. Every part of our communications has been styled to reflect this.”

Meanwhile, Vince Lagana, CCO at It’s Friday, commented, “CFS Edge is a step change for advisers. The visual metaphors don’t just emphasise some of its best features, they also bring to life the feelings of release and empowerment an adviser has while using them.”

Singapore – One of the challenges of marketing teams is defending a budget’s suitability to proposed marketing plans. A recent study by professional networking platform LinkedIn revealed that in order to weather this perennial predicament, B2B CMOs, particularly those from the Singapore market, are aiming to become more ‘financially fluent’ in order to prove the value of brand marketing to their CEO and CFO. Such is true for almost all of the chief marketing leaders, 83%, that were surveyed in the market. 

The study showed that around two-thirds (64%) of senior B2B marketing leaders in Singapore expect marketing budgets to grow over the next year. Things have been looking up thus far for said leaders, where research shows they have the support of the business, with 7 in 10 CFOs from B2B organisations in the market feeling optimistic about marketing’s ability to drive revenue in the year ahead. 

More notably, local B2B marketing leaders shared that one of the top priorities for this year is to champion bolder creativity in their campaigns with the aim to improve mental availability amongst consumers (48%). 

“B2B marketers in Singapore have been navigating the current climate with agility. They have demonstrated the importance of winning mindshare through brand building to business leaders, and they are also now making strides to explore leveraging Generative AI to increase efficiency and boost creativity,” said Matt Tindale, head of enterprise of LinkedIn Marketing Solutions for Asia Pacific

“As the business landscape continues to evolve, B2B marketers will lead the way in creating memorable, best-in-class brands, and contribute to their company’s growth in the months and years ahead,” added Tindale. 

LinkedIn’s ‘The B2B Marketing Benchmark’ is a study of nearly 2,000 senior B2B marketing and finance leaders from organisations across the globe, which was conducted ahead of the 2023 Cannes Lions International Festival of Creativity. 

Simultaneously with the release of the report, LinkedIn has also recently launched new B2B marketing solutions, which amongst others, will be leveraging the adoption of generative AI. The fresh roster of tools includes ‘AI-generated Copy Suggestions’ and advertising solutions such as In-stream video ads, thought leader ads, and conversation ads. 

Said launch also introduced the ‘CMO Scorecard’, which is a new measurement program through its consultancy, B2B Edge. This aims to help B2B marketers on the platform benchmark their creative impact and media performance against competitors. 

Kuala Lumpur, Malaysia – Malaysia-based fintech IOU Pay has launched myIOU Business+, a B2B financing solution. The new product is an online portal allowing purchasers to facilitate financing for their suppliers in credit terms, via a seamless and automated transaction.

In a bid to empower business owners in Malaysia, myIOU Business+ is created for SMEs to enjoy the flexibility of monthly repayment via direct debit as well as to drive business growth with cash flow acceleration. 

“We are continuing to see growth and we are excited to further expand our services and to have additional products that reflect the core values that the company strongly believes in,” said the fintech’s head of marketing, Gwen Khor

She added, “Whether you’re a customer, a B2B company or even a supplier, there is something we have to offer. In Malaysia, SMEs are the backbone of our economy and in order to grow they will need a supportive financing framework amidst the post-covid recovery. Hence, we are encouraging small businesses to pursue more opportunities and to increase the profit margin by using myIOU Business+ for prompt payment’s discount offered by suppliers.”

The finance facility for the suppliers is done by submitting an accepted invoice and other documents to myIOU. In return, myIOU will be paying the suppliers in full invoice amount less the service fee while the purchasers are able to repay their bill in flexible 4 monthly instalments. 

Both suppliers and purchasers are able to sign up easily by uploading the required documents to the myIOU Business+ portal. Purchaser or supplier acceptance, document management, reporting, initial transaction and repayments are all carried out in a seamless process through the portal.

In June 2021, myIOU also established its Buy Now Pay Later (BNPL) consumer app. According to the fintech, the BNPL app has already achieved 180,000 consumer downloads to date, with over 4,000 stores nationwide.

Singapore – With social restrictions gradually easing down and the world slowly returning to normal, we are now realising the full potential of the phygital world: a space that brings a combination of digital and physical experiences. From SMEs and institutions to large enterprises, this blended experience is being incorporated into their day-to-day operations because of its numerous advantages.

The year 2022 saw the marketing industry flourishing in more ways than one. This includes the rise of influencer and content marketing, the continuous boom of the e-commerce space, and the metaverse getting more known in the digital world, amongst others. But amidst this upward trajectory, there are still challenges that the marketing industry will face and will have to overcome now that hybrid marketing strategies are in place. 

MARKETECH APAC, in its quest to share key trends, insights, and relevant predictions for the preparation of the marketing community for 2023, has brought back its future-oriented industry series – but now much broader and larger to give the community a 360-degree view of what to expect in the coming year. ‘What’s NEXT 2023’ now comprises of four main pillars – article, interview, webinar, and conference –  and to kick the series off, the digital media starts with the launch of its thought leadership article series. 

The article leg of the industry series features the views, predictions, and some tips from various marketing leaders across APAC on different industry-relevant topics for 2023 and beyond. This includes exclusive written insights on integrated campaigns, personalisation, and B2B marketing, amongst others. 

Part of the series is Andrea Chuang, head of marketing for Malaysia-based used car platform myTukar, who will be discussing the importance of integrated campaigns and things to consider in doing these campaigns; and Jan Harling, director of new customer acquisition for APAC at foodpanda, who will be sharing his knowledge about personalised marketing and what brands need to know about their consumers. He will also be providing tips on how media and creatives can work together for their personalisation initiatives, and how to target consumers in a world that’s becoming less targetable.

Check out the initial line-up of published insights by marketing leaders under the series:

Kick-starting the article series, Amperity’s Area Vice President Billy Loizou explained the consequences of having fragmented customer data for businesses. He also enumerated three reasons why a great identity resolution strategy is a must-have for brands.

Click here to read the full article.

In this insightful read, James Campbell, regional manager of SnapLogic for ANZ, stressed why it is important to incorporate intelligent practices into companies’ data integration, how vital it is to leverage modern technology, and how automation helps enterprises deliver and achieve their goals, amongst other things. 

Click here to read the full article.

With tech companies and governing bodies making stronger restrictions when it comes to data privacy, businesses might find it harder to access customer data. In this article, Billy Loizou, area vice president of Amperity, shares how you can empower your business despite the stricter privacy rules, unlock the value of customer data to drive growth, and use ‘messy’ data to make the year 2023 for your business a success.

Click here to read the full article.

At present, B2B marketers still believe that they should always talk about how ‘good’ their products and services are. Donovan Chee, head of marketing and communications for SEA at Bureau Veritas says that marketers don’t have to do this, and instead learn to understand their customers and “win their hearts and minds,” amongst other tips.

Click here to read the full article.

The fifth installment of this series features Negar Mokhtarnia, director of product at Australian retail brand Pet Circle, weighing the importance of focusing on customer lifetime value over customer acquisition for e-commerce companies. She also shared her own take on leveraging data to boost brands’ customer experience and establishing a relational e-commerce experience to ensure sustainable growth.

Click here to read the full article.

Consumers today expect brands to be more vocal about social movements and contentious topics, which puts the responsibility to brands being an advent of change. In this article, Aaron Brooks, co-founder of influencer marketing platform Vamp, gives his insights on purpose-driven marketing, why it is important, the value of authenticity, its four key elements, and some advice for brands looking to leverage this approach.

Click here to read the full article.

Conventional business knowledge implies that sales and marketing should be tied together to drive profit and define a brand’s success. In this piece, Mark Opao, communications planning partner at Kaspersky for APAC explains why the two are hard to fuse and exposes the underlying realities of marrying Brand Building and Sales Promotion.

Click here to read the full article.

In the post-pandemic era, we just might see economic environments and market situations evolving. So, how can companies leverage these evolutions? Hongchia How, vice president of Appier for APAC answers this question by enumerating three MarTech strategies that can help companies seize great business opportunities and make smarter business decisions.

Click here to read the full article.

Asia-Pacific’s share of the global connected cars market reached 42% in 2020, and is anticipated to register a CAGR of more than 19% in the coming years. But how can this drive the growth of media tech platforms? Sharon Soh, chief planning and audience officer at UM APAC shares with us how, as well as its impact on brands and marketers in this thought-leadership piece.

Click here to read the full article.

As data and measurement becomes a cross-functional effort with marketing research and technology teammates – how can marketing lead the way in being more agile and achieving more success? Anna Henwood, CEO of Stickybeak shares how creating a mindset of experimentation and team collaboration – with your customer deciding if your hypothesis is right.

Click here to read the full article.

With many companies investing in customer data platforms and data agency partners, the real question is how marketers can make the most out of it? Antony Yiu, chief executive officer at PHD Hong Kong explains the process on how marketers can make their first-party data ‘dance’ in harmony and bring impactful revenue to someone’s business.

Click here to read the full article.

In an era of increasingly targeted marketing and limited budgets, how can brands effectively reduce wastage and improve performance by ensuring that their ads reach the right audience? This is the question that Jan Harling, chief executive officer at Virtus Asia Consulting asks in this latest article, centered around the topic of personalised marketing.

Click here to read the full article.

Watch this space as we update this article with details and links for other What’s NEXT 2023 thought-leadership articles.

If you are a marketing leader and would like to share your insights and predictions under the series, email us at [email protected].

The Philippines – MARKETECH APAC‘s What’s NEXT returns this year with a stronger push to bring the industry together through a variety of knowledge-sharing activities. MARKETECH APAC will continue to feature thought-leadership articles written by renowned marketing leaders to cover various marketing areas, as it did last year.

With MARKETECH APAC‘s ongoing push to create relevant video content, we will gather the best in the industry this year and sit down with them to discuss how marketers can prepare for the upcoming year of marketing opportunities and challenges.

On November 3, 2022, What’s NEXT 2023 will kick off with a regional webinar, What’s NEXT: Events in Asia Pacific, in collaboration with event tech platform, Hubilo. On November 8, in partnership with influencer marketing platform Vamp, another regional webinar, What’s Next: Influencer Marketing in APAC, will be held.

True to its mission of creating a well-connected marketing community in Asia Pacific, What’s NEXT 2023 concludes with a two-day hybrid conference, What’s NEXT 2023: Marketing in Asia Pacific, on February 21-22, with at least 120 physical attendees in Manila and 1,500 virtual attendees from various markets in Asia Pacific.

The conference will spark offline and online discussions about digital, e-commerce, customer engagement, CX, esports, research, B2B, metaverse, and other relevant topics that will help marketers future-proof marketing strategies.

MARKETECH APAC’s What’s NEXT 2023 will be a go-to platform for checking out the marketing industry’s new trends, opportunities, and challenges to be explored in the region through this holistic approach.

Keep an eye on our website and social media pages for updates on the hybrid conference.

Please contact Joven Barceñas at [email protected] if you are interested in becoming a partner.

Mumbai, India – Peer Connexions, a B2B e-commerce platform, has launched in India. The platform, which is already operating in markets Philippines, Indonesia, Thailand, Singapore and Sri Lanka, marks its entry into India through launch partner, Tech Data, the global distributor and solutions aggregator for the IT ecosystem. 

Among the capabilities that the new e-commerce provides are detailed technical, commercial information and product catalogues, pricing and inventory status, and the ability to register and transact on a common platform. And just like any e-commerce platform, Peer Connexions will be offering a wide range of promotions and special price offers and also loyalty benefits. 

“E-commerce has transformed the way we work and conduct business in India. As part of Tech Data’s global digital transformation, this platform is a key go-to-market initiative to better support our channel fraternity,” said Sundaresan Kanappan, country GM for Tech Data India. 

Jaishankar Krishnan, co-founder of Peer Connexions, commented, “We are excited to announce the launch of our B2B collaboration platform in India. The platform aims to digitally transform the way distribution channels engage with each other and increase transparency and ease of doing business for brands, distributors and reseller partners. Peer Connexions is proud to have the support of Tech Data as one of our launch partners, and is in the process of adding more partners and brands on the platform over the next few months.”

“We are confident that with the wide range of features and services available on the platform, it will quickly become the preferred platform for doing business for all channel partners.”

Singapore – After officially entering the Singapore market in January, global fintech Airwallex continues to progressively roll out key offerings in its global payments suite with the launch of its new Airwallex Borderless Card and integrated expense management solution.

Available to all Airwallex customers in Singapore, the Airwallex Borderless Card is a virtual multi-currency Visa business debit card that enables businesses to easily make online card payments anywhere that Visa is accepted, from Singapore and to the rest of the world.

Singapore-based companies can now instantly generate and issue virtual multi-currency business debit cards to promptly pay third parties, such as vendors and other online merchants with Airwallex’s market-leading foreign exchange rates wherever Visa cards are accepted. 

In addition to the Borderless Card, Airwallex is also launching its Expenses solution in Singapore. Singapore businesses will be able to streamline their expense processes with a single integrated platform to manage spending, seamlessly upload receipts for approval, reconcile expenses, and gain real-time visibility over card transactions.

Airwallex and Visa first announced their global strategic partnership in February 2020, and have since introduced the Airwallex Borderless Card to businesses in Australia, Hong Kong, United Kingdom, Europe, and the United States. 

“We’ve seen many of our global customers benefit from our cards offering, including significant cost savings on USD Software as a Service (SaaS) card spend and international transfer fees. We are so pleased that we can now offer Singapore businesses all the same benefits, providing them with greater flexibility and control over their cross-border card payments,” said Arnold Chan, Airwallex’s head of growth for Singapore.

“Today’s virtual cards and expenses launch is another significant step towards a full rollout of our global payments offerings in Singapore. We strive to become an integral one-stop-shop for any Singapore business requiring support with business finances across the entire transaction lifecycle, and by doing so, empower them to manage and grow both their local and global operations exponentially,” added Chan.

Kunal Chatterjee, Visa’s country manager for Singapore & Brunei, said that with Singapore being a global hub for commerce and SMEs looking to transact with counterparties globally, it is crucial to empower them with convenient and seamless cross-border payment solutions. 

“At Visa, we remain committed to working with our partners and being at the forefront in providing innovative payment solutions, helping businesses streamline their payment processes and improving the efficiency of international payments,” said Chatterjee. 

Over the coming months, Airwallex plans on expanding its card functionality, including enabling physical cards for business owners and for their employees’ work expenses, and digital wallet integration. 

Airwallex was founded in Melbourne in 2015, and in just six years, the company has secured more than US$800m in funding and a valuation of US$5.5b. Last April in Hong Kong, the fintech launched an SME support initiative worth HK$2.5m, where they provided a series of exclusive offers to help businesses recover and reopen from the pandemic while managing costs.

Dhaka, Bangladesh – Jarafa, a reselling platform has announced the launch of its reseller and wholesaler marketplace in Bangladesh. It aims to link wholesalers and resellers via its website and app so that all they have to do is click to generate money.

Anyone in the country can sell and buy things from anywhere in the country. Both B2B and B2C business models are maintained by Jarafa. Jarafa also shared that it will  be offering a financing program in the near future that would involve bank loans. 

Jarafa’s chief mission is to develop an eCommerce environment that will allow digital businesses to grow and expand throughout the country. Ultimately, Jarafa aims to become a one-stop tool that helps businesses sell their products through Facebook and other social media platforms.

Md. Fahad, CEO of Jarafa, said that the Jarafa team will work tirelessly and sincerely to facilitate the creation of a social commerce ecosystem that is safe and secure. By using this strategy, digital commerce and entrepreneurship will both be boosted to a larger extent. 

“With the best technical and financial support available to our resellers and wholesalers, Jarafa hopes to reach a strong and stable position in the next 2-3 years,” the company said.