Singapore Gulf Bank has introduced SGB Virtual Accounts for corporate clients, offering automated collections and treasury management capabilities. The service merges collect-on-behalf-of and pay-on-behalf-of functions to streamline cash management through real-time settlement, reducing reconciliation delays. Targeted at technology-driven companies, the solution provides a unified account framework aimed at operational efficiency.
Singapore Gulf Bank (SGB) has launched SGB Virtual Accounts, a service designed to automate corporate collections and cash management. The platform combines collect-on-behalf-of and pay-on-behalf-of functions, allowing businesses to assign unique identifiers to payers or business units.
This approach enables faster processing and more accurate financial tracking. The system provides instant identification and real-time settlement, moving away from batch-based reconciliation methods.
The bank designed the service for tech-forward businesses, including payment service providers and online marketplaces. It ensures regulator-aligned fund separation under a single wholesale banking license.
“Singapore Gulf Bank (SGB) announced the #launch of SGB #Virtual Accounts, which provide enterprises with automated collections and cash management,” stated a social media post. Companies can manage multiple jurisdictions and currencies from one unified platform.
Fly Wing Technologies Pte Ltd, a subsidiary of Matrixport, is already using the service for its cryptocurrency mining clients. This enables quick conversion of digital currencies to fiat for operational expenses like electricity.
The launch continues SGB’s product development trajectory, which included corporate banking in late 2024 and SGB Net in May 2025. By January 2026, SGB integrated with J.P. Morgan’s Wire 365 for direct access to the global USD clearing system.
