SINGAPORE, Sept. 2, 2026 /PRNewswire/ — OCBC, Visa and Doxa have deployed Singapore’s first deep-tier financing solution through the Doxa Connex platform, expanding access to working capital for subcontractors and suppliers operating deeper within the construction supply chain.
Designed to address a long-standing challenge in the built environment sector, where multiple layers of subcontractors and suppliers often face cash flow pressures while waiting for payment to flow through the supply chain, sometimes up to 100 days, the solution enables faster access to working capital and reduces delays arising from processing cycles and administrative inefficiencies.
Through Doxa Connex, eligible subcontractors can access digital financing workflows linked to approved project transactions. Once a main contractor or developer digitally approves a work claim, subcontractors can receive payment ahead of the invoice due date. Funds are disbursed via OCBC virtual purchasing cards, allowing subcontractors to transfer proceeds to their bank accounts or make payments directly to their own suppliers.
The solution went live in August, with the first subcontractor already benefitting from early access to their funds. Among the early adopters is Kimly Construction, which is deploying the solution across two existing projects. Selected subcontractors are currently being onboarded, enabling smaller firms to better manage cashflows while supporting smoother project delivery across the supply chain.
The solution combines OCBC’s financing capabilities, Visa’s digital payments and ecosystem expertise, and Doxa’s procurement and payments infrastructure. By embedding financing into existing digital project workflows, the partners aim to make working capital access more seamless, transparent and practical for businesses deeper within the construction value chain.
This initial rollout will serve as a foundation for scaling deep-tier financing across Singapore’s built environment sector. Feedback from participating subcontractors will help refine the financing workflow and support wider adoption across the construction ecosystem.
“Businesses further down the supply chain play a critical role in delivering construction projects, yet they are often the most affected by payment delays and cash flow constraints. Through this collaboration with Visa and Doxa, we have deployed Singapore’s first deep-tier financing solution for the construction sector enabled by virtual purchasing cards. The innovative solution enables subcontractors and suppliers to access funds earlier, improve cash flow certainty and reduce administrative friction. Together, we are helping to build a more connected, resilient and efficient construction ecosystem,” said Carmen Chan, Deputy Head of Global Transaction Banking, OCBC.
“Cash flow remains one of the biggest challenges facing construction businesses today, particularly for subcontractors and suppliers operating deeper within the value chain. Our research shows that while nearly three-quarters of construction SMBs are still in the earlier stages of digitalisation, more than two-thirds of these SMBs already report positive impacts from digital tools across key business functions, highlighting both the momentum for digital transformation and the significant opportunity to modernise business payments. Through our collaboration with OCBC and Doxa, we are embedding financing directly into trusted project workflows, helping businesses address working capital challenges by gaining faster and more transparent access to funds. This demonstrates how digital payments can go beyond facilitating transactions to unlock greater efficiency, resilience and growth across Singapore’s construction ecosystem,” said Adeline Kim, Group Country Manager for Regional Southeast Asia & SVP, Global Clients, Asia Pacific, Visa.
“Doxa Deep-Tier Financing was built to address one of the construction sector’s most persistent challenges: cash flow across multiple layers of the supply chain. By connecting earlier access to funds with approved project claims, the initiative helps shorten payment-timing gaps while preserving traceability and accountability within the construction ecosystem,” Edmund Ng, Founder and CEO of Doxa Holdings.
Roy Khoo, Director at Kimly Construction, stated: “We are proud to support the live deployment of this Deep-Tier Financing platform across two of our projects. We are already seeing stakeholders benefit from its core features: allowing subcontractors and suppliers to access funds ahead of due dates. By providing the option to unlock the working capital earlier, it eases cash flow constraints and improves capital efficiency for our partners, thus ensuring a healthier supply chain and smoother, more efficient project delivery.”
About OCBC
OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is one of the world’s most highly-rated banks, with Aa1 by Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC is the second largest financial services group in Southeast Asia by assets. The Group offers a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. Its insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the leading asset management companies in Southeast Asia. Its brokerage subsidiary, OCBC Securities, is one of the leading securities firms in Singapore.
The Group’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has close to 390 branches and representative offices in 19 countries and regions.
For more information, please visit www.ocbc.com.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About Doxa Holdings
Doxa is a Singapore-based fintech company that digitalises procurement, payment and financing workflows for the built environment sector. Through its Doxa Connex platform, Doxa connects developers, main contractors, subcontractors, suppliers and financiers through shared, approved commercial data across the construction value chain.
Doxa Connex supports workflows including procurement, claims, invoice approvals, payments and financing. Its Deep-Tier Financing solution builds on this connected data infrastructure to enable eligible subcontractors and suppliers to access earlier financing options based on approved invoice and project information.
By connecting commercial data with financing workflows, Doxa helps construction stakeholders improve visibility, address cashflow timing gaps, and act earlier on cost and delivery risks.
For more information, please visit www.doxa-holdings.com.
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