NEFIN – Unifying cross-border operations onto one seamless platform

NEFIN is a major provider of carbon neutral technologies and financing solutions, with subsidiaries across Asia Pacific. Its goal is to help organisations achieve their sustainability goals through its bespoke unified energy management platform. 

Addressing time-consuming transfers and administrative challenges

With operations spanning the Asia Pacific region, NEFIN has a need to quickly transfer funds between its subsidiaries. Prior to partnering with DBS, NEFIN had to work with numerous banks across Hong Kong, Singapore, Taiwan, China and Indonesia. NEFIN struggled with the uncertainty and delay of telegraphic transfers, which took up to 3 days to complete and sometimes failed for no apparent reason. Moreover, NEFIN found that performing reconciliation across multiple banking platforms resulted in inconsistent data and delays in report generation. As a result, the company struggled with poor control and visibility over its funds, leading to costly delays.

With its strong presence across Asia Pacific and beyond, DBS was ideally placed to help. It opened accounts for NEFIN in all of its key markets where DBS had a presence. DBS also assisted with implementation through its regional as well as local teams on the ground, ensuring a smooth transition across all subsidiaries. By switching to DBS and incorporating its services into daily operations, NEFIN quickly improved payment turnaround for its clients, while boosting operational efficiency across its subsidiaries. 

Faster turnaround

With DBS PriorityPay, NEFIN is now able to greatly improve service standards, cutting payment turnaround time from 3 days to just 10 minutes for its clients. Furthermore, SWIFT GPI provides NEFIN with real-time tracking for outgoing and incoming payments, for greater transparency.

Smoother operational efficiency

NEFIN was also able to cut unnecessary complexity from its daily operations. Rather than attempting to reconcile across different banking platforms, NEFIN can now control funds and access real-time banking updates for all subsidiaries across 4 key markets on one single platform. With DBS IDEAL, NEFIN now has full visibility over all its accounts across the region, while still retaining flexibility for subsidiaries to manage local transactions with ease. DBS also offers fully customisable reports, which help speed up reconciliation by providing account balance and transaction details.