ADERA AI Pte. Ltd. (ADERA), an innovative technology services group headquartered in Singapore with a track record of more than 35 years, and BreadTalk Group Pte Ltd (BreadTalk Group), an award-winning F&B Group with more than 1,000 retail stores spread across 17 territories, are pleased to announce the establishment of a technology joint venture to develop innovative fintech and digital solutions targeted at small and medium enterprises (SMEs).
Highlights:
– COVID-19 has accelerated the pace of technology adoption as initiatives to tap new growth opportunities amid the pandemic were largely reliant on digitalisation and technology
– The technology joint venture aims to develop innovative fintech and digital solutions, such as data analytics, blockchain-based supply chain financing platform, digital payments, to accelerate SMEs’ digitalisation strategy to enhance their business efficiency and unlock new growth opportunities
– The first batch of fintech and digital solutions is targeted to be rolled-out by 1Q2021 and it will be deployed progressively across BreadTalk Group’s F&B establishments as proof-of-concepts before adaption for mainstream adoption in other industries
SMEs are an important component of Singapore’s economy, providing employment for two thirds of Singapore’s workforce and contributing nearly half of Singapore’s Gross Domestic Product (GDP) on an annual basis.
COVID-19 has accelerated the pace of technology adoption as initiatives to tap new growth opportunities amid the pandemic were largely reliant on digitalisation and technology. As such, the scale of technology adoption for business enterprises to transform their business models has never been more apparent than now.
Leveraging on the combined expertise and resources of both ADERA and BreadTalk Group, the technology collaboration aims to:
1. Develop digital tools that offer data analytics, enhance operational efficiency and data- driven decision methodology on issues such as inventory, payments, customer acquisitions and etc.
2. Create a scalable omni-channel platform to enhance outreach to customers via new sales channels, integrating operations, incorporating digital payments, facial recognition and designing a cohesive user experience for end-customers.
3. Establish a blockchain-based supply chain financing platform with digitalised processes and document automation so stakeholders can gain faster access to financing and potentially lower their costs of funding. With more accountability and transparency, it can foster greater trust and confidence between financing institutions and transacting parties, leading to lower financing and business risks.
Under the joint venture, ADERA will provide its knowhow, capabilities and experience in key areas such as digital automation, facial recognition, digital identity, digital payments and artificial intelligence, while BreadTalk Group will contribute its technical and operational experience.
Commenting on the technology joint venture, Mr. Lennon Tan, Chairman of ADERA, said: “Amid the COVID-19 pandemic, technology has become an essential tool to overcome operational challenges and enhance business agility.
As we adapt and adjust to the new normal economy, both ADERA and BreadTalk Group recognise that our combined know-how and experience can lead to the development of cutting- edge fintech and digital tools that can be adapted for the digitalisation roadmap of other industry segments.
With BreadTalk Group’s established F&B business presence across 17 territories, it will provide significant opportunities for us to introduce and deploy our fintech and digital solutions to improve business operations and customers’ engagement, leading to more proofs-of-concept and accelerating mainstream adoption of our technology innovations.
Combining the resources and strengths of both ADERA and BreadTalk Group, we look forward to using our best talents and expertise together to unlock new opportunities in the digitalisation journey for stakeholders.”
Mr. Cheng William, Group COO of BreadTalk Group, added: “There are vast, untapped opportunities in the areas of digitalisation within the Group and the F&B industry. Our diverse multi-brand operating environment with international presence provides an ideal platform for proof-of-concepts.
To this extent, we have identified 3 “pros” to guide our digitalisation efforts: pro-customers, pro-workforce, pro-business partnerships to create more value propositions for stakeholders.
Leveraging on ADERA’s expertise and capabilities of more than 35 years in technology services, we are confident that this joint venture will strengthen the core capabilities of our businesses and such technology innovations can be replicated to enable businesses in other industries to build sustainable growth in their digitalisation roadmap.”
About ADERA AI Pte Ltd (ADERA)
Serving global banks, financial institutions, telecommunications, and government agencies around the world, ADERA is a technology services group headquartered in Singapore providing a platform of innovative fintech, digitalisation and data security solutions.
With an established track record of more than 35 years, ADERA aims to enable our customers to digitalise and enhance their business and operating models to broaden access to new markets, improve end-user experience and develop greater business efficiency.
For more information, please visit ADERA website: https://aderaglobal.com
About BreadTalk Group Pte Ltd
Founded as a bakery brand in Singapore in 2000, BreadTalk has rapidly expanded to become an award-winning F&B Group that has established its mark on the world stage with its bakery, restaurant, and food atrium footprints. With over 1,000 retail stores spread across 17 markets in Asia, Middle East, and the United Kingdom, its brand portfolio comprises direct owned brands such as BreadTalk, Toast Box, Food Republic, Food Junction, Bread Society, Sō Ramen, Thye Moh Chan, The Icing Room and partner brands such as Din Tai Fung, Song Fa Bak Kut Teh, and Wu Pao Chun Bakery.
The Group has a network of owned and franchised bakery outlets in markets across Asia and the Middle East. It also operates the world-renowned Din Tai Fung restaurants in Singapore, Thailand and London as well as the award-winning Food Republic food atrium in markets such as Singapore, Thailand, China, Taiwan, Hong Kong and Malaysia.
Issued on behalf of ADERA AI Pte. Ltd. and BreadTalk Group Pte Ltd by 8PR Asia Pte Ltd.
Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com
Tag: Adera
ADERA to Broaden and Deepen its Business Presence in Chongqing, China
Singapore-based Financial Services Technology Group, ADERA, to Broaden and Deepen its Business Presence in Chongqing, China; Signs 1st MOU and Letter of Intent to Develop the First Supply Chain Financing Platform for Cross Border Trade Activities between Singapore and Chongqing and Undertakes 2nd MOU to Establish a Fintech and Data Centre in Chongqing
Adera Global Pte. Ltd. (“ADERA” or the “Company”), an innovative financial services technology group headquartered in Singapore with a track record of more than 35 years, is pleased to announce that it has entered into two Memorandum of Understandings (“MOU”) and a letter of intent to broaden and deepen its business presence in Chongqing, China.
Highlights:
– Supported by major Chinese institutions in the banking and trade industries, the supply chain financing platform will utilise ADERA’s blockchain solutions and it will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group and CCIF Pte Ltd
– Greater economic collaboration will facilitate more trade between Singapore and Chongqing and the supply chain financing platform will enable enterprises in Singapore and Chongqing to digitalise and standardise their trade processes and invoices
– With enhanced accountability and transparency via the supply chain financing platform, it fosters greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing
– The fintech and data centre established by ADERA will be located in Bishan, Chongqing and it will focus on the development of fintech solutions, artificial intelligence and secured data capabilities, among other new technology innovations
– ADERA will also be participating in SMART CHINA EXPO 2020, where the Company will showcase its latest fintech and digitalisation innovations in this Virtual Expo
The MOUs and letter of intent are part of the China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity and it is the third intergovernmental cooperation project between China and Singapore which mainly covers four key areas of cooperation: financial services, aviation industry, transportation logistics and information, and communication.
Previously, such intergovernmental cooperation projects have effectively facilitated the origination and completion of several China-Singapore cooperation projects. In 2018, 16 cross-border financing projects under the China-Singapore Demonstration Initiative on Strategic Connectivity were followed through.
Strategic Collaborations with Established Chinese Private Enterprises and Government Agencies in Chongqing
Chongqing, in southwest China, is one of four municipalities directly controlled by the central government – the other three are Beijing, Shanghai, and Tianjin. Chongqing has posted double-digit economic growth for more than a decade and in 2019, Chongqing posted a GDP growth of 6.3% Y-o-Y to RMB 2,361 billion in 2019.
ADERA’s first MOU and letter of intent relates to the development of the first supply chain financing platform for cross border trade activities between Singapore and Chongqing.
Utilising ADERA’s blockchain solutions and technology capabilities, the supply chain financing platform will be jointly developed together with two established Chinese partners, Chongqing JiangBeiZui CBD investment Group, a state-owned enterprise, and CCIF Pte Ltd, a state-related business agency.
In addition, the supply chain financing platform has obtained the support from major Chinese institutions in the banking and trade industries that comprise of Bank of Chongqing, YuMaoTong Foreign Trade Service Platform and Chongqing Tianlian Citrus Network Technology Co. Ltd.
To facilitate a greater volume trade activities between Singapore and Chongqing and improve efficiency between business enterprises in both countries, the blockchain-based supply chain financing platform will integrate multiple e-invoicing standards in China to conform to the PEPPOL e-invoicing standard that is recognised internationally.
With enhanced accountability and transparency via the supply chain financing platform, it can foster greater trust and confidence between financing institutions and transacting parties, leading to lower risks to business transactions and faster access to financing.
The pilot supply chain financing platform is expected to be introduced by the end of 2020 and there is potential to replicate the platform across other key markets in China and connecting more business enterprises and transactions between China and Singapore.
The second MOU is signed between ADERA and Chongqing Bishan District Government to establish a fintech and data centre, spearheaded by ADERA, which will be located in Bishan, Chongqing. The fintech and data centre will focus on the development of fintech solutions, artificial intelligence, and secured data capabilities, amongst other new technology innovations.
Commenting on these milestones, Mr. Lennon Tan, Chairman of ADERA, said: “The MOUs and letter of intent reflect our strong commitment to serve the business communities in both Chongqing and Singapore with our technology innovations and deep industry experience.
Working together with our established MOU partners in Chongqing, we look forward to develop an enhanced ecosystem of trust that transcends geographical barriers and creates new value propositions that will benefit stakeholders.
Paving the way for the mainstream adoption for digitised supply chain documentation and data integration, we believe that our blockchain-based supply chain financing platform will lead to a higher volume of cross border trades and faster access to supply chain financing while lowering risks at the same time among transacting parties.”
Mr. Lennon Tan, added, “Sharing a common vision of developing and commercialising new technology innovations with the district government in Bishan Chongqing, our fintech and data centre in Chongqing aims to be a gateway to enable more advanced technology applications to create a more inclusive community.”
Showcasing ADERA’s Latest Fintech and Digitalisation Innovations in SMART CHINA EXPO 2020
In addition, ADERA is participating in the SMART CHINA EXPO 2020, which is an annual gathering for international enterprises, industry leaders, scholars and experts, and government officials to share and explore the latest developments in the fields of smart technology, smart industry, smart manufacturing, and smart application.
Due to the COVID-19 pandemic, SMART CHINA EXPO 2020 has been transformed into a virtual platform and ADERA will be showcasing its latest fintech and digitalisation innovations in the following areas:
– Blockchain driven cross-border e-invoicing & supply chain platform
– Digital identity solutions enabling enrolment to verification
– Fintech transformation for banking institutions with workflow automation & intelligent kiosk
– Biometric contactless attendance and temperature-taking system with contact tracing
capabilities
About Adera Global Pte Ltd (“ADERA”)
Serving global banks, financial institutions, telecommunications and government agencies around the world, ADERA is a financial services technology group headquartered in Singapore providing a platform of innovative fintech, digitalisation and data security solutions.
With an established track record of more than 35 years, ADERA aims to enable our customers to digitalise and enhance their business models to broaden access to new markets, improve end- users experience and develop greater business efficiency.
For more information, please visit ADERA website: https://aderaglobal.com
Issued on behalf of Adera Global Pte. Ltd. by 8PR Asia Pte Ltd.
Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com