Singapore Gulf Bank Launches Virtual Accounts to Streamline Corporate Cash Management

Singapore Gulf Bank (SGB) has unveiled SGB Virtual Accounts, a service aimed at enterprises seeking automated collections and cash management solutions. The platform combines collect-on-behalf-of (COBO) and pay-on-behalf-of (POBO) functions.

Businesses can now assign unique account identifiers to payers, invoices, or internal business units, enabling faster processing and accurate tracking.

Unlike traditional virtual accounts, SGB’s system delivers instant identification and real-time settlement. This removes reliance on batch-based reconciliation and reporting delays.

Companies can reduce manual processing, minimize human error, and improve operational efficiency. The solution also allows enterprises to scale operations without adding administrative overhead.

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Designed for Tech-Forward Businesses

Singapore Gulf Bank engineered the service specifically for tech-driven firms, such as payment service providers, online marketplaces, and financial technology companies. It ensures regulator-aligned separation of end-user funds.

Operating under a single wholesale banking license, Singapore Gulf Bank Virtual Accounts provide one unified account framework across all markets where the bank operates.

This design reduces the fragmentation that is characteristic of the traditional banking system. This allows companies to monitor multiple jurisdictions, currencies, and accounts from a single platform.

Real-time settlements provide instant liquidity. This solution provides a framework that enables organizations to focus on growth rather than reconciling multiple accounts.

Virtual Accounts Enable Seamless Scalable Banking

Fly Wing Technologies Pte Ltd, a subsidiary of Matrixport, is already using Virtual Accounts. Their crypto mining customers can quickly exchange digital currencies into fiat to meet operational costs such as electricity and maintenance.

This example highlights how the service increases efficiency and liquidity for business customers and their end-users. The launch has maintained SGB on its fast track of product development. Corporate banking began at the end of 2024, and then came SGB Net in May 2025.

By January 2026, SGB was fully integrated with J.P. Morgan’s Wire 365, which enabled SGB to access the global USD clearing system directly. SGB Virtual Accounts position SGB as a technology-driven bank, providing seamless, scalable, and innovative financial solutions.

Why This Matters

Singapore Gulf Bank Virtual Accounts help to even out the cash flow of corporations, reduce the time for reconciliation, and promote efficiency in operations in Asia.

With technology as the driving force, businesses can now have scalable and multi-currency account management that is compliant with the Monetary Authority of Singapore (MAS).

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