XTransfer, a B2B cross-border trade payment platform, and Shanghai Development (SPD) Bank, Hong Kong Branch, have formed a partnership on cross-border financial services and reached a strategic cooperation intention.
The two parties intend to establish a strategic collaboration that priorities core capabilities, including payment and collection solutions and transaction processing.
Through the partnership, small to medium-sized enterprises (SMEs) engaged in foreign trade will be delivered with more secure, streamlined and efficient services for global payments and collections, and cash management.
Bill Deng, founder and CEO of XTransfer, and Zhu Jun, deputy chief executive officer of SPD Bank, attended the official signing of the memorandum of cooperation.
Initially, the two parties will concentrate on cooperation in China and Hong Kong SAR, and plan to extend to more regions as their partnership grows.
Bill Deng, founder and CEO of XTransfer, remarks: "We are delighted to collaborate with Shanghai Pudong Development Bank, Hong Kong Branch. By combining SPD Bank's expertise and resource advantages in cross-border finance with XTransfer's global network and technological capabilities, we can further strengthen end-to-end transaction processing and compliance governance, providing SMEs with integrated cross-border financial infrastructure to support compliant operations and global expansion."
Mr. Zhu Jun, deputy CEO of SPD Bank, Hong Kong Branch, adds: "SPD Bank will continue to collaborate closely with XTransfer, aiming to enhance our cross-border financial service system, providing more convenient and reliable financial support for Chinese enterprises expanding globally."
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