Small and medium-sized enterprises (SMEs) are the backbone of Asia’s dynamic economy, yet they often struggle with limited resources, cash-flow constraints and supply-chain disruptions. OCBC Bank has transformed these challenges into opportunities through continuous innovation.
In 2024, OCBC saw an 18% increase in new SME customers, driving growth in both loan book and net profit. The bank’s sustainability efforts yielded remarkable results: by December 2024, OCBC had provided over $9 billion in sustainable financing to nearly 4,000 SMEs across the region – a significant expansion from 2023, when the bank served approximately 1,200 SME customers with sustainable financing solutions.
This sustainability surge didn’t happen by accident. OCBC recognised that smaller businesses needed accessible entry points to green finance. Through its Start-ESG programme, every new SME account automatically gains access to tools for measuring baseline performance, receiving expert advice, and qualifying for sustainability-linked loans. A partnership with government agency Enterprise Singapore subsidises up to 70% of sustainability assessment costs for three years, removing financial barriers to ESG adoption.
Beyond sustainability, OCBC has tailored SME banking through sector-specific innovation. The bank’s pre-curated industry packages address unique operational needs. Its food and beverage solution, for example, includes OCBC OneCollect, which stands as Singapore’s first payment platform integrating both WeChat Pay and Alipay, crucial for restaurants and retailers serving Chinese tourists and residents. This single innovation has transformed payment collection for thousands of food and beverage establishments.
The bank’s regional integration strategy proves equally beneficial. Rather than operating as isolated national entities, OCBC’s six commercial banking subsidiaries across Singapore, Malaysia, Indonesia, China, Hong Kong and Macau function as interconnected nodes, providing single sign-on access to business accounts across all markets.
Meanwhile, OCBC One Connect actively matches SMEs with regional supply chain opportunities. This structure captures 90% of Asean-Greater China trade corridors, enabling SMEs to expand seamlessly across borders.
What distinguishes OCBC is how sustainability programmes, sector expertise, regional connectivity and data insights work together as a coherent system
Digital transformation underpins these innovations. Account opening has achieved 80% digital adoption across Singapore, Hong Kong and Malaysia. Loan applications that once took weeks now receive decisions within 48 hours, with the platform seamlessly integrating with accounting software and payment systems. Yet OCBC maintains its branch network, training relationship managers as digital advisers who help less tech-savvy entrepreneurs navigate online tools.
The bank’s commitment to understanding SME needs runs deeper than product innovation. Its proprietary SME Index, tracking over 100,000 businesses in Singapore, has become the market’s primary benchmark for gauging sector health. This data-driven approach enables OCBC to anticipate challenges and develop solutions before competitors recognise emerging trends.
What distinguishes OCBC is how these elements – sustainability programmes, sector expertise, regional connectivity and data insights – work together as a coherent system. Each innovation builds on the others: sustainability assessments help businesses qualify for better financing terms; sector-specific tools drive digital adoption; regional integration opens new markets for growing companies. By addressing the full lifecycle of SME needs rather than offering disconnected products, OCBC has created a model that grows stronger with each new customer it serves.
“We are proud to be the SME partner of choice in Asia,” says Christie Chu, head of emerging business international at OCBC. “This recognition reflects OCBC’s commitment to support SMEs at every stage of growth. Through OCBC’s regional presence, deep industry expertise and tailored solutions, we enable SMEs to seize new opportunities, scale across borders and build sustainable futures.”
