The digital transformation has helped the finance sector simplify traditional processes and attract new customers in multiple ways. Today, various companies are adopting digitalization to improve the quality of customer relationships while boosting profitability.

 

Committed to enhancing payment solutions, SUNRATE is offering intelligent global payment and treasury solutions. The company is empowering the digitalization of global payments and supporting business clients with highly flexible treasury solutions. Headquartered in Shanghai, SUNRATE is the brainchild of Paul Meng (Founder), Joshua Bao (Co-Founder) and Michael Dong (Co-Founder) who established the company in 2016. Having witnessed the payment issues experienced by SMEs first-hand, the team was inspired to create SUNRATE. Moreover, the aim was to help companies access fast, cost-effective and safe cross-border transactions by partnering with leading banks and institutions to pioneer innovation within financial technology.

 

Matrix of Cutting-Edge Products

SUNRATE has a fantastic product matrix, and each one is designed to assist clients in overcoming business challenges. International payment, corporate card issuance, global collection, risk and treasury management SaaS platform, and banking-as-a-service are among them. It continuously provides one-stop digital services to global businesses as a strategic partner with top banks such as Citibank and Standard Chartered Bank, as well as a principal member of Mastercard and Visa.

The company helps small and medium businesses access lower transaction costs through leveraging the international and local settlement networks. As a result, the fund arrival time is reduced from a few days to the same day (T+0). Instead of a prolonged settlement period, clients are able to pay their out-of-country suppliers and vendors way faster, with little to no friction points. SUNRATE's payment network supports transfers in over 100 currencies and 130+ countries, making it easy to do business anywhere in the world.

 

 

Highly Flexibility Lego-like Product Suites 

SUNRATE recognizes that every business is unique, so they do not describe a single solution. To provide more targeted services to SMEs, importers, and exporters, the company offers a Lego-like product to ensure that clients from various industries are in the right place. The combination of different product modules with each other, based on professional accumulation and vertical industry know-how, can perfectly cover diverse industries such as traditional B2B Trade, E-commerce, OTAs, and so on.

It further aims to continue empowering its business clients in their global business development, by co-operating with large clearing banks, commercial banks and card schemes as well as continue innovating payment solutions to meet their business needs.

 

 

Technology for Seamless Payment SaaS

In the past few years, technology has emerged as a great facilitator for the financial industry. Several financial institutions across the world have greatly benefitted from technology and have introduced unique means of doing business operations. In fact, over the last decade, there has been a rapid growth in B2C payment technology. This has resulted in the invention of mobile banking, mobile wallets and new point of sale providers. However, an area of payments that is growing fast yet remains largely untapped is the cross-border B2B trade.

With respect to the various advancements, SUNRATE has been utilizing technology to provide clients with smart and seamless payment options. SUNRATE has developed a sophisticated technological engine that helps clients match the best solution as quickly as possible, taking into account the risks that SMEs may encounter in their operations, such as FX risk. Clients can manage their documents or track their payments through SUNRATE's treasury SaaS modules - part of the company's effort to help businesses digitize their payment processes.

A diversified product portfolio and an intelligent SaaS platform have clearly created SUNRATE's payment SaaS network and shaped its industry leadership position.

 

Safe and Secure Transactions

While fulfilling its commitment to digitize global payments, SUNRATE also incorporates various measures to ensure safe and secure online payments transactions. The company maintains strict regulatory compliance in check, both locally and overseas. It has also earned licenses from the regulatory bodies across major economies in the world, including Hong Kong, Singapore, Indonesia, the UK, the U.S., Japan and Australia. SUNRATE’s systems are strictly vetted for compliance and security by high-level banking partners and third-party auditors.

 

Portfolio of Accolades and Recognition

Owing to its innovative array of digitized payment solutions, SUNRATE has earned various accolades and received recognition for the same. The company has also been featured across several global media and publishing platforms. In fact, it was twice awarded the Treasury Leadership Awards by the Standard Chartered Bank in 2019 and 2020. Additionally, SUNRATE has also received the ‘Outstanding Cross-border E-commerce Financial Corporate Award’ and the ‘Outstanding Cross-border E-commerce Financial Service Award’. Recently, the company has also won the Top 10 Payment Solution Vendors 2022 of CIOReview APAC.

 

Key Takeaway:

Taking on new technology can be daunting. For each business, many departments from procurement to billing accounts receivable and accounts payable will all be involved in payments. While it’s understandable they will have concerns about disrupting the workflow, ultimately the benefits will outweigh the costs.

Payment technology has the potential to transform the workflow of companies, to enable businesses to gather data on their transactions and have visibility of their processes. It’s time for banks and fintech to put their heads together, ease the payment burden on businesses, and help them smoothly transition to the latest technology. This is how we’ll see our global economy flourish.

 

“Our wealth of experience in banking, payments and treasury management allow us to create the solutions our clients need.”

 

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