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PUBLISHED : 29 Nov 2024 at 08:47
In the second half of 2024, 42 out of the 77 Thai provinces faced flooding. At least 50 people were killed and billions of baht were lost in damages to property and farmland.
The flooding was particularly severe in the northern provinces of Chiang Rai and Chiang Mai. In the central district of Chiang Mai, the Ping River overflowed for the first time. Thousands were evacuated by boat.
So what caused it all? The release of water from hydropower dams upstream, particularly in China and Laos, causes acute flooding and erodes the river banks.
Encroachment on the river – by building structures next to the banks or that jut into the river itself – blocks drainage and prevents construction of flood barriers.
But the larger issue is deforestation, partly for mining activities but mostly to plant feed crops for animal agriculture. Forests don’t just absorb carbon, they also absorb water, and when we cut them down, the water cascades down the fields, taking the topsoil with it and causing the invasion of mud we’ve seen this year.
To unpack the layers of Thailand’s flood crisis, Dave Kendall speaks with “Pai” Pianporn Deetes, campaign director for the Southeast Asia Programme at International Rivers, on the latest episode of Bangkok Post’s “Deeper Dive” vodcast.
Press “Play” below or search for “Deeper Dive Thailand” wherever you get your podcasts.
Humanity has been gathering weather data for centuries. In fact, some of the oldest records, found in places like China, Japan and Korea, date back thousands of years, documenting rainfall, snow patterns and the timing of flowers blossoming or ice melting.
Rain and snow gauges are relatively simple devices. Precision instruments such as thermometers and barometers only came about after the 1600s, but even then, they did not follow modern scales of measurement.
The biggest technological shift was in the 1800s. Weather records became far more reliable and standardised thanks to the rise of modern measuring instruments and international agreements enforcing the adoption of recognised scales.
Whenever scientists make declarations about the hottest year on record, they use weather records that date to the 1880s, when measuring instruments and scales are considered more compatible with modern quality control and calibration methods.
However, historical weather records are not always easy for scientists to access. Scattered across archives, institutions and private collections around the world, these datasets are hidden gems waiting to be uncovered.
Food, energy security among agenda items
Food security, energy security, the green economy, and digital connectivity were among the topics discussed on Thursday by Prime Minister Paetongtarn Shinawatra and her Singapore counterpart Lawrence Wong.
Singapore’s premier made his first official visit to Thailand on Thursday following his assumption of the post in May.
Mr Wong is the first foreign head of government Ms Paetongtarn has hosted in the kingdom.
The visit holds great significance for both countries as they will celebrate 60 years of diplomatic relations next year.
Thailand was one of the first countries to recognise Singapore’s independence on Aug 9, 1965.
Upon his arrival at Government House, Mr Wong was welcomed by Ms Paetongtarn, and they witnessed the signing of a memorandum of understanding on postgraduate scholarships for Thai civil servants.
At a joint press conference, Ms Paetongtarn hailed the 60th-anniversary benchmark.
The visit offers an opportunity for both sides to improve ties further and plan for future cooperation, she said, adding the two countries expect to see more high-level visit exchanges next year.
Ms Paetongtarn said Thailand also hopes to welcome Singapore’s president next year and that she intends to pay an official visit to Singapore to follow up on what was discussed with Mr Wong yesterday.
Government spokesman Jirayu Houngsub summarised the joint press conference, saying their talks touched on security, energy security, food security, the green economy, digital connectivity, future investment and more.
Thailand expressed readiness to help Singapore boost its food security by exporting premium rice and organic eggs there, the spokesman said, adding the leaders also discussed human resources development and educational exchanges to boost upskilling and reskilling for their respective workers.
The two countries also hoped the extended informal consultation in Bangkok next month would help resolve the crisis in strife-torn Myanmar, Mr Jirayu said.
Mr Wong said Singapore and Thailand are old friends.
“We have very strong trade and investment linkages, and our defence establishments also enjoy close and longstanding cooperation. Singapore, in particular, thanks Thailand for its longstanding support for the SAF’s [Singapore Armed Forces] training in Thailand,” he said.
“We are both pioneers in digital finance — we set up the PayNow-PromptPay linkage back in 2021, and that was the world’s first instant cross-border payment system.
“We have also launched the first Depository Receipts Linkage in Asean between our stock exchanges — this allows stocks to be traded on each other’s stock exchange.
“And that is also the first in Southeast Asia,” he said.
The two countries aim to build on this close connectivity to expand to new areas of cooperation, Mr Wong said.
“One area is the green economy. We are keen to work with Thailand on carbon credits. Thailand itself is stepping up its production of green power, including hydrogen and biofuels.
“So we can work towards an Implementation Agreement on carbon credits collaboration, which would open up new opportunities for our companies,” he said.
Another area is food security, which he and Ms Paetongtarn discussed in October at the Asean Summit In Laos, Mr Wong said.
“The prime minister updated me about her priorities in food security. This is also important for Singapore, as we import most of what we consume, and we are continually looking to enhance our food security.
“So, I am happy that both sides have agreed to come together [and] discuss ways in which we can strengthen our collaboration in this area,” he said.
“I thank Thailand for the hard work that it has put in, as chair of the Asean Digital Economy Framework Agreement, that will deepen the integration of the digital economy for Asean, and Singapore supports fully Thailand’s leadership in this area.”
Food, energy security among agenda items
Food security, energy security, the green economy, and digital connectivity were among the topics discussed on Thursday by Prime Minister Paetongtarn Shinawatra and her Singapore counterpart Lawrence Wong.
Singapore’s premier made his first official visit to Thailand on Thursday following his assumption of the post in May.
Mr Wong is the first foreign head of government Ms Paetongtarn has hosted in the kingdom.
The visit holds great significance for both countries as they will celebrate 60 years of diplomatic relations next year.
Thailand was one of the first countries to recognise Singapore’s independence on Aug 9, 1965.
Upon his arrival at Government House, Mr Wong was welcomed by Ms Paetongtarn, and they witnessed the signing of a memorandum of understanding on postgraduate scholarships for Thai civil servants.
At a joint press conference, Ms Paetongtarn hailed the 60th-anniversary benchmark.
The visit offers an opportunity for both sides to improve ties further and plan for future cooperation, she said, adding the two countries expect to see more high-level visit exchanges next year.
Ms Paetongtarn said Thailand also hopes to welcome Singapore’s president next year and that she intends to pay an official visit to Singapore to follow up on what was discussed with Mr Wong yesterday.
Government spokesman Jirayu Houngsub summarised the joint press conference, saying their talks touched on security, energy security, food security, the green economy, digital connectivity, future investment and more.
Thailand expressed readiness to help Singapore boost its food security by exporting premium rice and organic eggs there, the spokesman said, adding the leaders also discussed human resources development and educational exchanges to boost upskilling and reskilling for their respective workers.
The two countries also hoped the extended informal consultation in Bangkok next month would help resolve the crisis in strife-torn Myanmar, Mr Jirayu said.
Mr Wong said Singapore and Thailand are old friends.
“We have very strong trade and investment linkages, and our defence establishments also enjoy close and longstanding cooperation. Singapore, in particular, thanks Thailand for its longstanding support for the SAF’s [Singapore Armed Forces] training in Thailand,” he said.
“We are both pioneers in digital finance — we set up the PayNow-PromptPay linkage back in 2021, and that was the world’s first instant cross-border payment system.
“We have also launched the first Depository Receipts Linkage in Asean between our stock exchanges — this allows stocks to be traded on each other’s stock exchange.
“And that is also the first in Southeast Asia,” he said.
The two countries aim to build on this close connectivity to expand to new areas of cooperation, Mr Wong said.
“One area is the green economy. We are keen to work with Thailand on carbon credits. Thailand itself is stepping up its production of green power, including hydrogen and biofuels.
“So we can work towards an Implementation Agreement on carbon credits collaboration, which would open up new opportunities for our companies,” he said.
Another area is food security, which he and Ms Paetongtarn discussed in October at the Asean Summit In Laos, Mr Wong said.
“The prime minister updated me about her priorities in food security. This is also important for Singapore, as we import most of what we consume, and we are continually looking to enhance our food security.
“So, I am happy that both sides have agreed to come together [and] discuss ways in which we can strengthen our collaboration in this area,” he said.
“I thank Thailand for the hard work that it has put in, as chair of the Asean Digital Economy Framework Agreement, that will deepen the integration of the digital economy for Asean, and Singapore supports fully Thailand’s leadership in this area.”
Capital Group, an active asset manager with over US$2.8 trillion in assets under management (AUM), has appointed Marketa Dvorak as managing director, global financial institutions (GFI) in Asia Pacific (Apac).
Dvorak (pictured) will continue to be based in Singapore and reports to London-based Nick Shaw, head of client group, GFI, who oversees GFI operations in both Asia and Europe.
Dvorak started earlier this month on November 11 and was previously managing director, global wealth management, Apac, at Wellington Management, according to her LinkedIn prodiles.
The aim is for Dvorak to deepen and expand Capital Group’s relationships with major financial institutions based across Apac, according to a media release. Her responsibilities will include working with local client groups, including global and regional distributors, supoporting strategic objectives and support clients in the region with value-added services beyond investing, according to the release.
Shaw said in the release: “We hear from global financial institutions that they want fewer partners and expect more from their asset manager. We’re committed to supporting our partners across the region to meet their needs and their clients’ financial goals. Apac is a key growth market for Capital Group where we have been serving investors for more than 40 years.”
Dvorak commented, “I’m excited to join Capital Group in this role, dedicated to growing and establishing strategic relationships with global financial institutions in the Apac region. I look forward to collaborating with our team around the world to further build upon the momentum with GFI partners both globally and locally, and support more investors in the region.”
For more FinanceAsia people moves click here.
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.jpg "Shermaine Wong, co-founder and CEO of Cult Creative (Left) and Lina Esa, co-founder and chief marketing officer of Cult Creative")
“Content creators are now the modern storytellers as they resonate with Gen Zs and millennials especially,” said Shermaine Wong, co-founder and CEO of Cult Creative. Consumers are always searching for experiences with different creators and types of content, she adds.
According to a 2022 report by Cube Asia Research, Southeast Asia’s social commerce is estimated to be worth US$42 billion (RM186.65 billion)
In tandem, a report ‘E-commerce influencer marketing in Southeast Asia’ was published in Oct by Impact.com in collaboration with Cube Asia, revealing that by 2027, social commerce in the region could reach an impressive US$125 billion (RM555.49 billion)
Moreover, within the report, results of a survey consisting of 400 Malaysian adult respondents (above 18 years) indicate that celebrity and mega influencers hold significant sway over Malaysian consumers’ purchasing decisions by 62% and 61% respectively.
To address the rising demand of UCG, Cult Creative has beta launched its Creator Platform, – an all-in-one solution designed to streamline and optimise UGC marketing campaigns for content creators.
“Cult Creative’s efforts aim to position Malaysia as a regional hub for the creator economy with the launch of Creator Platform to tap into the growing trend of influencer-driven storytelling,” Shermaine said.
Lina Esa, co-founder and chief marketing officer of Cult Creative said that the creator economy is about building genuine connections. “Through the platform, we help brands grow their audiences, get the quality UGC that we can provide them, while ensuring creators have an easy way to manage their campaigns and scale their earnings.”
In the last 12 months, Cult Creative has paid over US$157,514 (RM700,000) to 2,800 creators, with brand partnerships such as Grab, Hotlink, Astro, Farm Fresh and Marriot Bonvoy Group.
Emphasising its commitment to serve creators and assist them on the business side of matters, Cult Creative has emerged as one of the quickest paymasters in its space. “We are one of the only companies that pay creators within 30 days, whereas most of our competitors pay within three to six months, which is an industry standard,” said Shermaine. It is able to do this as brands pay upfront for the work they wish creators to deliver for them.
Furthermore, depending on a creator’s reliability and quality of work, creators can also obtain a form of certification known as “Cult Certified”, which allows them to obtain their earnings within 24 hours.
The platform operates on a pay-per-use model, charging brands for UGC campaigns based on creator engagement with additional services like activation fees, platform margins and support.
Brands can also opt for annual agreements with continued platform use or tailored campaign management for more customised solutions.
Key features
While still in its beta stage, the platform’s key features include:
The platform aims to simplify campaign management, performance tracking and payments that is aligned with Cult Creative’s mission to empower creators with tools to elevate content creation and brand partnerships.
Down the pipeline
It had taken ten months to build the platform with the tech support venture firm Nexea Ventures, which served as Cult Creative’s tech consultant. Nexea is an investor in Cult Creative.
Shermaine declined to disclose how much it has cost to build the platform.
However, when the tech collaboration with Nexea ends by January, Shermaine will grow Cult Creative’s in-house tech team.
Cult Creative expects its 2024 revenue to hit US$405,026 (RM1.8 million), a fivefold increase over 2023.
Creators can sign up and try their hand at pitching for brand deals and earning through their content via www.cultcreativeasia.com.
Speaking to FinanceAsia at the 2024 Singapore Fintech Festival, Nimish Panchmatia, chief data and transformation officer at DBS, described how artificial intelligence (AI) could evolve beyond optimising individual tasks in banking,
Panchmatia noted: “Today, a lot of people are focusing on what I would call user-centered AI, but if you lift this up to the next level, is human-centred AI.”
This shift, Panchmatia explained, isn’t just about streamlining processes, but about building AI models that actively support customer well-being, financial literacy, and a positive societal impact
Going deeper into this human-centred AI (HCAI), IBM in a recent paper explained, “adhering to the core value that “human + AI” is better than either one individually, novel user experiences can be. developed that foster human-AI collaboration”.
HCAI is an emerging discipline and Panchmatia believes it is increasingly important for the banking sector. With AI-driven tools like virtual financial advisors and personalised education modules becoming more common, banks can reduce the transactional feel of interactions and establish themselves as partners in their customers’ financial journeys — a shift expected to drive stronger customer retention than models based solely on service speed or product sales.
Panchmatia also discussed adaptive feedback loops, which refine customer insights to continuously improve AI models.
For example, if a customer is given a “nudge” (such as an instalment option for a large purchase) and chooses not to engage, that feedback helps adjust future interactions.
“If you got a nudge and didn’t act, this went back into the model to say, ‘Okay, why didn’t this customer engage?’” he explained. By continuously learning from customer behaviour, banks can anticipate needs more accurately, aligning with the industry-wide shift toward hyper-personalised services.
According to a 2023 report by S&P Global, the potential for the new AI to reshape banking is vast with below being some common AI applications in banking.
The McKinsey Global Institute (MGI) estimates that across the global banking sector, generative AI (Gen AI) could add between $200 billion and $340 billion in value annually, or 2.8% to 4.7% of total industry revenues, largely through increased productivity.
In terms of commercial priorities, Panchmatia explained how DBS builds its AI models around customer understanding. The bank uses a variety of methods, including surveys and sophisticated anthropology studies, to gather insights. “We sit down with client groups and observe,” Panchmatia said. By understanding customer needs before making decisions, the bank can ensure that AI-driven offers are relevant and beneficial.
The human angle of transformation
A successful transformation requires looking at all the components—technology, people, and processes—and understanding their collective impact, according to Panchmatia.
“What does this mean for the people in the organisation? What does it mean for the tech stack? What does it mean for the customers, the regulators, and any other stakeholders?” Panchmatia emphasised the importance of stakeholder mapping, assessing both potential successes and failures.
It’s through this holistic approach that banks can find the right balance between technology and people.
He stated, “If you change your branch system… is it a big tech project? Yes. Is it a bigger people project? For sure.”
Data responsibility
With AI becoming a standard feature of banking, the question of data ethics has risen to the forefront. Banks are increasingly tasked with managing not only structured data but also unstructured information.
In the finance industry, unstructured data can be found in various forms such as emails, social media posts, news articles, customer reviews, legal documents, and multimedia files. Unlike structured data, which is neatly organised in tables with a predefined format, unstructured data is not systematically arranged. It often consists of large amounts of text or multimedia content, making it more challenging to analyse and interpret.
With the rise of unstructured data comes an increased risk of misinterpretation, requiring clear guidelines to ensure responsible use.
At DBS, a protocol known as “P.U.R.E” governs this process. This structure reflects a growing industry-wide movement toward transparency, especially as more countries tighten their data regulations.
“Whatever you do must fit all these (P.U.R.E) parameters,” Panchmatia explained, emphasising that “the unsurprising and easy-to-explain part (in P.U.R.E) became a little more dynamic” when working with unstructured data.
Globally, banks are establishing similar frameworks to foster transparency and accountability in AI applications, aligning with regulatory shifts that prioritise customer privacy.
In Singapore, where DBS is headquartered, stringent data privacy laws require financial institutions to be meticulous about data governance. In June 2023, the Monetary Authority of Singapore released a toolkit for the responsible use of AI in the financial system called the Veritas Toolkit version 2.0 that will help financial institutions (FIs) carry out the assessment methodologies for the Fairness, Ethics, Accountability and Transparency (FEAT) principles.
Implementation of data integrity
In terms of data, Panchmatia explained that it is unsurprising for both the users who are handling it and the customers who are receiving it. Customers don’t have to question why they’re receiving certain information. “If you come to me and say, – why did you send me this notification – I need to be able to explain this to you.”
From a technical perspective, having the right tools and infrastructure in place for data is crucial, shared Panchmatia.
“If you’re going to build the model right, you’ve got to register it first.” This ensures accountability and traceability, allowing data management to kick into the workflow efficiently. If the necessary steps aren’t followed, such as completing a proper assessment, data cannot be used effectively for model training or testing.
The importance of oversight cannot be understated, either. “We have a senior committee in the bank that ensures that data initiatives align with the company’s strategic objectives and risk appetite. It’s not just about purchasing the latest tools—it’s about being thoughtful and deliberate in how data is handled across the organisation.”
Pace of change and societal impact
Looking to the future, AI’s rapid pace of development requires banks to build flexibility into their systems.
Panchmatia noted, “What was really novel eight months ago is now old school,” illustrating the speed with which AI advancements are transforming the landscape. This ongoing evolution is prompting banks to make continuous updates to their AI frameworks.
Statista predicts the banking sector’s spending on generative artificial intelligence (AI) to surge to $85 billion by 2030, with a remarkable 55.6% compound annual growth rate.
Elaborating on the scale of AI in DBS, Panchmatia shared some numbers.
For example, DBS has delivered over 370 AI/machine learning use cases spanning customer-facing businesses and support functions, and 1,500 AI/ML models to date (as of November 2024). It has also managed to compress time to value from 12 to 15 months down to two to three months, with the goal is to bring it down further to two to three weeks over the next few years; the bank said it has delivered a tangible economic impact of over S$370 million ($276.5 million) in 2023, S$700 – 800 million in 2024, and projected S$1 billion in 2025, working on its AI industrialisation approach.
Beyond technical agility, banks are grappling with the societal impacts of AI, particularly in terms of workforce transformation. While automation may streamline certain functions, new roles requiring specialised skills in AI and data analytics are emerging.
“It’s important to consider societal impact,” Panchmatia emphasised, adding that while AI might replace some roles, it will create others requiring upskilling and reskilling.
Beyond AI
Meanwhile, emerging technologies such as quantum computing and blockchain interoperability are also poised to expand the capabilities of banking AI. Quantum computing, with its potential to enhance complex risk assessments and fraud detection, is being tested through proof-of-concept initiatives in leading banks.
“We are doing some POCs with quantum,” Panchmatia explained, though he noted that large-scale banking applications may still be a few years away.
Blockchain’s progress hinges on interoperability; should these issues be resolved, decentralised finance (DeFi) could become a viable option for more banks, according to him.
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Eza Hill Property Management, a Singapore-based real asset business backed by Rava Partners, the real assets strategy of Hillhouse, has acquired three Indonesian logistics hubs from LILV Portfolio, a fund managed by ESR Group for $148 million.
The investment comprises a portfolio of three logistics assets in Greater Jakarta totaling 137,000 sqm of built-up net lettable area (NLA). In addition, two of the properties also have 274,000 sqm of developable NLA which Eza Hill could develop to further grow the portfolio.
The properties are in the industrial and logistics sub-markets of Cikarang, Cibitung and Cileungsi which cater to different stages of the supply chain from production to last-mile delivery. The asset in Cikarang is located within a manufacturing cluster with strong warehouse demand from factories and assembly, while the assets in Cibitung and Cileungsi are connected via toll roads and demand from e-commerce, fast moving consumer goods and last-mile delivery tenants, according to a media release.
The deals are Eza Hill’s maiden acquisition in Indonesia as it looks to grow beyond Singapore into the Southeast Asia (SEA) region.
Frank Ng Tze Wei, co-founder and chief investment officer at Eza Hill, said, “We had envisioned for Eza Hill to be a regional player, and this strategic acquisition marks an important step in that direction.”
Wei continued: “Expanding into Indonesia, as the largest economy in SEA and the fourth most populous country in the world, is strategic because it is key to riding the medium-term demographic and economic trends in the region in the next five to 10 years. Furthermore, the portfolio has significant scale, and the acquisition provides a sizeable presence in the Jakarta market.”
Joe Gagnon, co-head of Rava Partners, said: “We see great potential for growth in the SEA market. We are building our expertise to operate in these markets and are excited to create value for our investors and take advantage of these opportunities.”
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Instarem, part of Nium, Southeast Asia’s payments unicorn, launched its 2024 SME Spend Barometer, revealing insights into the spending behaviours of small and medium-sized enterprises ( SMEs ) in Singapore, Australia and Malaysia.  ,
Based on data from a test of 700 SMEs and some subjective interviews with customers, Instarem’s annual SME Spend Barometer record analysed spending patterns from January 2023 to August 2024, highlighting how SMEs are carefully investing in technology, infrastructure, and talent to react to an evolving financial landscape.
A determined method to growth
Trade payments increased by 6 %, indicating a meticulous yet positive outlook for global growth, thanks to Malaysia and Australia. In comparison, trade payments to Singapore decreased by 27 % year over year, indicating that local companies may be shifting their attention away from home goals in the face of rising costs and financial pressures.  ,
Ashish Sangle, world Nose of Instarem, said:” Instarem has supported thousands of businesses in their development journeys over the years. Expanding internationally allows SMEs to gain access to wider user bases and exploit market opportunities for scale and growth. In today’s culture, a little caution is natural, but we anticipate that SMEs will continue to look for and exploit opportunities that are in line with their objectives.
Embracing AI and robotics
As evidenced by a 29 % increase in spending on data services over the same time period in 2023, the implementation of AI and digital change is accelerating across APAC. Malaysia and Australia are leading the charge in IT investments, with sectors like F&, B ( 120 % ), IT and software services ( 66 % ), and business consultancy ( 59 % ) registering the biggest gains.  ,
In order to reduce rising costs and increase efficiency, several SMEs who were interviewed for the record are using AI, automation, and online tools. They are adopting process technology, AI-driven fraud detection, and advanced data analysis, among other alternatives to simplify businesses, minimise regular work, and optimise resources.
However, not every industry is embracing tech at the same rate, with financial services and business services cutting their information services spending by 42 % and 4 %, respectively.
Return to work picks up speed
SME employers in all three markets are reinvesting in physical infrastructure following years of hybrid or remote work, as evidenced by the 16 % increase in office expenses. Sectors like retail and wholesale, as well as business services, have seen office expenses rise by nearly 150 % and 70 %, respectively, suggesting a shift in how businesses are positioning themselves for long-term growth. This rise in commercial real estate demand also accounts for the more than doubled transaction volumes for real estate and leasing between 2023 and 2024.
These patterns are not universal, and some industries, like those in industrial manufacturing and construction (-48 % ), online retail (-44 % ), and telecommunications (-28 % ), are bucking the trend in favor of a more cautious strategy driven by market needs.  ,
Our decision to invest in physical office spaces in Vietnam and the Philippines has been influenced by employee demand for in-office collaboration. By balancing these investments with our offshoring model, Net Fusion Technology’s group managing director George Votava said that while promoting greater collaboration and innovation, the company can better manage costs.  ,
Balancing talent and growth
Despite broader economic pressures, SMEs are n’t scaling back on talent investments, with salary payments up 7 %. In Singapore, salary investments stayed flat, with some sectors, including media and marketing ( 13 % ) and business services ( 3 % ) even increasing their spending on third-parties ( external advisors ) to drive growth. This suggests a strategic shift to increase internal teams without significantly enlarging the field.
According to the country’s Wage Price Index and the 3.7 % increase in the National Minimum Wage, salary payments among SMEs in Australia have increased modestly ( 3 % ), indicating that businesses are placing a premium on retaining key talent while managing costs.  ,
What’s ahead
These findings demonstrate that SMEs are putting their weight on high-impact investments, such as digital transformation, while using measured tactics elsewhere. Resources are still being put under pressure, though, due to challenges like fluctuating exchange rates and high processing costs.
” Managing costs is a top priority for SMEs, particularly in critical areas like talent and expansion”, said , Sangle. ” Thinking strategically about payments can free up important resources for growth and prepare SMEs for long-term success,” according to the statement” not only help to reduce high cross-border fees and improve cash flow.”
For more insights, download Instarem’s 2024 SME Spend Barometer Report here.