Dedoco, a decentralised digital document and workflow management platform today announced that it has partnered Funding Societies, Southeast Asia’s largest SME digital financing platform to enable micro, small and medium enterprises (MSME) customers in Singapore to sign loan contracts via the country’s digital signing service, Sign with Singpass. Sign with Singpass allows users to digitally sign documents using their signing certificate contained in their Singpass. The digital signature generated using the signing certificate is cryptographically linked to the signer, providing businesses with a higher assurance of the authenticity and integrity of the signed documents. This rollout further simplifies Funding Societies’ current digital Know-Your-Customer (KYC) process and enables it to serve more underserved MSMEs within the same timeframe.
Funding Societies’ use of this secure digital signing also facilitates more quick and convenient application processes for small business owners on its Elevate product. Elevate is the FinTech platform’s free-to-apply credit line, that comes with an opt-in virtual card powered by Matchmove. The product was launched earlier this year and entitles qualified MSMEs to interest-free credit for a period of up to 55 days.