Ms So Lay Hua, Head of Group Transaction Banking, UOB, said, “The collaboration with Kimly Construction and Doxa will accelerate the digitalisation of an industry that is generally very manual and paper based. With Doxa Connex, Kimly Construction and its suppliers can manage their business processes with greater efficiency. Leveraging the existing digital data available on Doxa Connex, UOB will be able to provide Kimly Construction with green and sustainable trade financing without additional paper documents. This is part of UOB’s effort to bridge the digital divide, to enable our customers to connect with their suppliers digitally and to build resiliency for their business.”

The pilot with Kimly Construction and Doxa is the first of such green trade and sustainable transactions leveraging the digital platform, Doxa Connex. This will lead to easier procurement and trade financing processes, to build efficiency and incorporate sustainability in the ecosystem for the long term.

Doxa Connex can track and manage documents sent between buyers and suppliers digitally. It focuses on simplifying complex workflows for companies in the construction industry. The collaboration to digitalise cash management and trade finance builds a foundation for other similar simplification processes. Doxa Connex has also joined SGTraDex4. Together, UOB and Doxa will undertake more green and sustainable trade finance transactions, enabling SMEs to further simplify their trade financing processes.

Mr Edmund Ng, CEO and Co-founder, Doxa, said, “With financial services embedded in Doxa Connex, we work as the information highway backbone to provide financial institutions with a single source of data truth and greater transparency. Thus, SMEs gain better access to capital and a lower cost of funds. Together with UOB and Kimly Construction, we are taking the first step to achieve green trade finance, and towards the SGTraDex initiative. This will unify the financial ecosystem and we are excited to be part of this journey.”