Hai Cloud Exchange – Improving operations efficiency and reducing operational costs

On 23 May 2023, DBS attended the annual awards ceremony hosted by the Asian financial magazine “The Asset” and was jointly awarded the “Best Payments and Collections Solution” along with Hai Cloud Exchange. This recognition highlights the exceptional accomplishments of Hai Cloud Exchange in foreign currency payments and acknowledges our digital solutions. 

Hai Cloud Exchange
Hai Cloud Exchange is a wholly owned subsidiary of Haier Group Corporation specialises in foreign currency risk management. Hai Cloud Exchange is committed to providing global cross-border trade users with digital, scenario-based, and intelligent financial solutions for smart forex risk management. The client chose DBS as its banking partner for our strong credit rating, innovative digital capabilities and rapid integration of critical end-to-end processing flows such as real-time notifications, FX transactions, account operations and more.

API implementation
To enhance Hai Cloud Exchange's agility in a rapidly evolving market, DBS implemented a comprehensive suite of API solutions, granting integrated access to various DBS digital services. This includes virtual accounts, allowing Hai Cloud Exchange to provide transparent and efficient collection services for cross-border scenario users based on DBS Bank's digital capabilities. It also includes comprehensive application programming interfaces (APIs) and credit solutions that support real-time foreign exchange trading and forward trading, enabling Hai Cloud Exchange to provide comprehensive and efficient foreign exchange trading services to users.

Poised for continued growth 
These digital innovations from DBS enabled Hai Cloud Exchange to handle larger transaction volumes in real-time, which has been particularly beneficial to the company’s clients that handle many currencies. Transactions are also handled more quickly and at lower cost, producing savings that the company can pass on to customers. “DBS Hong Kong's comprehensive application programming interfaces (APIs), including virtual accounts, real-time forex trading, and payment services, greatly enhance the efficiency of settlements between us and our clients. It holds significant importance for businesses in terms of cost reduction and efficiency enhancement in fund management.” – Ms Sophy Du, CFO of Hai Cloud Exchange. 

Daily operations have also been streamlined, enabling Hai Cloud Exchange to automate time-consuming tasks and improve reconciliation. In fact, the company was able to reduce headcount and achieve operational savings of over 50%. By providing comprehensive back-end support, DBS is also facilitating the continued growth of Hai Cloud Exchange, enabling the company to capture emerging opportunities in a rapidly growing market.