GlobalLinker partners with The Monetary Authority of Singapore and IMDA to create AI-driven solutions hub for SMEs

Seeking to foster SME digitisation, GlobalLinker, an SME enablement ecosystem, was selected to partner with The Monetary Authority of Singapore (MAS) and IMDA (Info-communications Media Development Authority) to create a collaborative AI-driven global solutions hub. It will be titled ‘Business sans Borders’, according to reports. 

The announcement came at the ‘Singapore Fintech Festival’ this week. The selection means that GlobalLinker is the only Indian company, among other global entities, selected to be part of Business sans borders. Other partners include Mastercard, SAP, Yellow Pages, DBS Bank and Singtel.

“SMEs are facing challenges in accessing cross-border trade opportunities and financial services. Further, solution providers, ranging from logistics, professional services, financing or payments, find it difficult to reach out to the SMEs in need,” said Sopnendu Mohanty, Chief Fintech Officer, MAS. “Through Business sans Borders, we can provide a platform to bridge the gap and address these challenges.”

The alliance will see partner organisations collaborate to help SMEs with digital solutions to bolster their cross-border and domestic trade. SMEs can also do business with each other in more efficient and effective ways.

“The initiative is significant to provide specialist value-added services from organisations committed to SMEs,” said Sameer Vakil, Co-founder & CEO, GlobalLinker. “We are delighted to work with the Monetary Authority of Singapore and other globally renowned organisations. We also look forward to collaborate with complementary networks to provide cross-network opportunities to our SME members."

GlobalLinker is set to bring in to the initiative thousands of SME members from across the world. The initiative can benefit over 60 million Indian SMEs, according to it. Here, small businesses can access a multi-ecosystem sandbox environment containing anonymised SME data for testing new digital services, an app store offering HR services, logistics and finance, and an AI engine to match them with suitable suppliers.