CIMB Singapore launches virtual account for businesses

It digitises companies’ cash flow.

CIMB Singapore has launched the CIMB Virtual Account (VA), aimed for businesses facing a high load of suppliers and vendors, the company announced.

The platform enables business owners to digitise their cash flow. It also has a three-tiered structure comprising a Master Account, Group Identifiers and VA to allow business owners a detailed or personalised viewing of their account balances at a glance.

CIMB VA can be also set up via the CIMB BizChannel platform, which will give corporates e-Alerts via email and SMS for transactions.

The CIMB Virtual Account is part of an expansion of CIMB’s cash management solutions to cater to business owners and their business needs. It is essentially a one-stop financial solution for business owners that boosts productivity by eliminating certain manual processes.