Global eTrade Services (GeTS) has partnered with Aspire, a Singapore-based start-up, for a project aimed at providing easier access for customers, especially small and medium enterprises (SMEs), to trade financing on GeTS’ CALISTA Finance platform.
According to a statement from GeTS, CALISTA Finance aims to address the needs of underserved businesses, especially SMEs in Southeast Asia, to improve liquidity and meet other financial needs. By automating the documentation process and harnessing trade data, the know-your-business (KYB), loan approval, and disbursal processes will be expedited while also enhancing security.
Aspire has been expanding its presence in several Southeast Asian markets, and the company said that it aims to become the region’s SME neobanking leader. The partnership will allow CALISTA Finance customers to seamlessly access Aspire’s credit offerings to expand their own businesses in the region.
Major financial firms such as DBS Bank, the Industrial and Commercial Bank of China (ICBC), MoolahGo, and Liquid Group, have joined the CALISTA Finance platform since its launch in December 2019.
“We are delighted to have Aspire onboard CALISTA, to integrate the digital and physical aspects of trade financing on a single platform,” said Chong Kok Keong, CEO of GeTS. “This partnership will facilitate more convenient access for our customers to trade financing, as part of our vision to make trade more accessible, predictable, and easier.”