DBS BANK
to combine its expertise in technology and sustainability . By integrating ESG metrics into supply chains and fostering collaboration with clients and its ecosystem of partners , DBS illustrates how financial institutions can contribute to environmental and social progress .
Addressing procurement challenges Terence Yong , Global Head of Sales , Global Transaction Services at DBS Bank , explains that businesses are reorienting their supply chains in response to challenges ranging from geopolitical tensions to diversification needs .
“ Clients are approaching DBS to solve these procurement pain points , often starting at the top of the house ,” Terence notes .
He emphasises that many are looking for new areas of sourcing and production that can drive transformation .
The second big issue is around sustainability . Buyers are increasingly focused on achieving higher degrees of traceability and securing the investments required to drive transitions towards stronger sustainability outcomes .
“ Others are looking to create and strengthen their ecosystems through digitalisation for greater efficiency ,” Terence continues , highlighting the importance of cross-border visibility of payments to shipments and bringing in partners ( such as Procure to Pay platforms ) that can complement the shifting sands of supply chains with higher expectations around sustainability .