CIMB Singapore has unveiled a digital foreign exchange ( FX ) solution tailored to meet the cross-border trade payments needs of small and medium-sized enterprises ( SMEs ) – from start-ups managing initial overseas vendor payments to mature businesses servicing international loans.

Called CIMB FX Online, the offering promises the best exchange rates for Singapore dollar to Malaysian ringgit, Indonesian rupiah, and Thai baht ( THB ), as well as real-time FX pricing.

It also enables non-CIMB customers to instantly make a one-time FX booking without having to open a business account.

By offering simpler, faster and more cost-effective ways to manage finances, CIMB says, the solution helps SMEs address common pain points like high costs, limited transparency, and frequent delays in overseas payments.

“At CIMB, we are constantly innovating to meet the evolving needs of Singapore SMEs as they set their sights on overseas expansion,” says Benjamin Tan, head of commercial and transaction banking, CIMB Singapore.

“Backed by our strong digital capabilities, deep regional expertise, and customer-first approach, we remain dedicated to empowering SMEs with the tools they need to grow with confidence.”  

Existing CIMB business current account holders can transact directly within the business banking portal, without having to switch platforms. SMEs can trial FX Online for the first time without a CIMB business account, giving them an opportunity to have first-hand experience of the service.