SINGAPORE - Executives in Singapore and China may now have an easier time identifying new cross-border business counterparts and building trust in each other.
In a press statement on Wednesday (April 18), DC Frontiers, a Singapore fintech start-up specialising in corporate intelligence technology, said it has collaborated with Chongqing tech firm, SocialCredits, to develop a new cross-border business information portal (CSE portal).
The CSE portal will facilitate the discovery and due-diligence of business partners by providing user-friendly and reliable information on both Singapore and Chinese companies, the firm added.
As a showcase project under the Chongqing Connectivity Initiative (CCI), the portal was launched on Wednesday morning by chief executive of the Infocomm Media Development Authority (IMDA), Tan Kiat How.
Mr Tan noted that this partnership between Singapore and Chinese companies will open the doors to both markets, and allow for greater collaboration in seizing oppportunities in other regions as well.
"As Singapore transforms into a digital economy, we believe that every business needs to be digital, and should leverage partnerships and digital platforms to reach out to the global markets," Mr Tan said.
Similarly, co-founder and CEO of DC Frontiers, Daryl Neo said the group believes that the CSE portal will facilitate trade and growth in both nations by making "reliable information easily-accessible to businesses of all sizes".
Looking ahead, Mr Neo is of the view that this partnership will also extend the potential of DC Frontiers' own due diligence platform, Handshakes, by expanding its reach into China.
Added Mr Neo: "We believe in collaborating for speed, and will be expanding Handshakes' coverage to even more parts of Asia in the coming months."
DC Frontiers was recently awarded the Most Innovative Business Idea for Handshakes, its flagship product, at the inaugural India-Asean Commemorative Summit in New Delhi.
Handshakes is a platform that interactively maps out relationships between companies and people in the corporate ecosystem.
According to the tech company, Handshakes is unique in its ability to tap into data from official registries, giving up-to-date coverage of more than 100 million business entities in Asia. This allows financial services firms, regulators, corporates and researchers to gain business insight and intelligence.
Singapore Press Holdings, the parent company of The Straits Times, holds a 25 per cent stake in the holding company of Handshakes.