Shanghai firm helps SMEs mitigate risks and overcome hurdles

Shanghai-based company XTransfer, which works with banks to set up a globally unified B2B (business to business) financial network and intelligent risk management system, has signed a strategic cooperation agreement with the Yangpu District government to serve small- and medium-sized companies.

Under the agreement, it will provide one-stop digital international financial and risk control services to foreign trade SMEs, particularly B2B cross-border E-commerce companies in Yangpu District to boost its online new economic development.

SMEs are often neglected by big banks and are confronted with hurdles in the cross-border payment process, such as transaction delays and high commission rates.

Under cooperation with international banks and financial institutions, XTransfer has established a global multi-currency unified settlement platform and central, automatic and intelligent risk control infrastructure against money laundering for SMEs, enabling them to enjoy the same level of international financial services as big multinational companies.

The company has served more than 150,000 SMEs in China.