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2024 has been an exciting year at Aspire. We've introduced powerful new features and enhancements designed to make your business finance operations smoother, faster, and more secure than ever. Here's a look back at the highlights from 2024.
Better Payment For Your Needs
Aspire is now available to support businesses in Hong Kong
- Pay suppliers, settle invoices, and cover recurring expenses with free FPS transfers in HKD and CNY, CHATS transfers in USD, SWIFT transfers in 13 currencies and corporate cards.
- Hold and transact in HKD, CNY, and USD to accept payments and pay vendors without costly conversion.
- Pay and withdraw cash at ATMs inside and outside Hong Kong with your Aspire physical card.
- On top of that Aspire also comes with employee expense management with unlimited free virtual cards featuring customizable spend limits and merchant locks, budget management, invoice tracking, and more.
Get paid faster by other Aspire users
- Receive cross-border payments instantly when sent by other Aspire users in SGD, USD, EUR, and GBP.
Process thousands of payments at once
- Whether you’re paying salaries or suppliers, effortlessly send money to multiple recipients at once with our enhanced batch transfer system for both local and cross-border payments.
Streamline your payout processes
- Boost operational efficiency for your entire finance team with our FX Payout API. Automate transfers directly from your existing systems and seamlessly make payments from your Aspire USD or SGD to employees, suppliers and partners worldwide.
Distribute spending power whenever you need it
- Leverage our Card API to create virtual cards in real-time for various business or employee spending purposes, complete with built-in spending policies
Control access to confidential payroll details
- We recognise the importance of data privacy in payroll management. With payroll permission, you can grant selected users access to individual payroll transaction details within batch transfers.
Enhanced Treasury Management
Easily manage funds across accounts and safeguard against FX fluctuations
- Instantly move funds between your Aspire SGD, USD, EUR or GBP currency accounts based on your business needs, with $0 transfer fees. Ensure smooth transactions with sufficient balances and safeguard your money from FX fluctuations.
- Manage the uncertainties of fluctuating FX rates when your transfers are awaiting approvals. You can now secure rates for 3-24 hours for SGD, EUR, and GBP transfers from your USD account
Control inflows and outflows effectively
- Create multiple debit account details in the same currency to separate income, expenses, projects, and operational costs for better financial organisation.
Easy Financial Management
Delegate with full oversight
- Empower your teams or departments to independently manage their allocated funds with up to 3 levels of sub-budgets while you maintain control over overall spending limits.
Process claims efficiently
With our enhanced claims feature, your team members can group and submit claims by expense types. Furthermore, uploaded receipts are tagged to relevant transactions with smart auto-match, making approvals a breeze.
Stay on top of what matters
- Never miss an important update with our new notifications and receive monthly analytics that provide deep insights into your cash flow, spending patterns, and financial health.
Stronger Security, Seamless Access
Protect your finances with AI-Powered security
- Stay secure with AI-powered protection and instant fraud resolution. Instantly freeze accounts, flag card transactions, and block transfers when suspicious activity is detected. You can easily report and resolve fraud issues directly through the app too.
Password-free logins with Passkeys: Enhanced security with less hassle
- Experience the password-less future with Passkeys. We’re one of the first to adopt passkeys so you can enjoy seamless, faster, and more secure logins across both web and mobile platforms.
We've upgraded your experience in 2024 to help you stay ahead in the game, whether it's speeding up cross-border operations, improving payments, or providing a passwordless future with passkeys. Looking ahead to 2025, we’re excited to expand our reach to larger markets and deliver even more innovative solutions to meet your growing needs.
Frequently Asked Questions
How can Aspire support the unique financial needs and challenges of mid-sized businesses?
Aspire offers a comprehensive suite of expense management solutions tailored for mid-market companies. This includes sophisticated corporate cards, advanced budget controls, and streamlined claims and approval policies, all designed to enhance financial efficiency.
How quickly can a mid-market company integrate Aspire's solutions into existing systems and workflows?
Integration with Aspire's expense management solutions is swift and seamless. Mid-market companies can swiftly implement corporate cards with tailored features, set up nuanced budgets, and establish streamlined claims and approval processes, ensuring minimal disruption to existing workflows.
How does Aspire compare to competitors for international money transfers?
Aspire excels in international expense management with FX fees up to 2x cheaper than traditional banks.
Global payments are offered by various providers through business accounts. Read our article to know more about types of business accounts and how to choose the best one for your business. There are many banks and fintech companies offering business accounts to businesses in Singapore. We have covered them all in our blog, you can click the links to view accounts offered by various banks such as DBS, OCBC, Maybank etc.
However, if you are a start-up or a growing business, chances are you may not meet the eligibility criteria for most of these banks or find their charges to be expensive for your liking. You can consider opting for Aspire multi-currency account for global payments which offers you all the benefits, with eligibility criteria which are less stringent. Read our article on bank charges in Singapore for a quick and easy comparison.
What level of customization does Aspire offer to meet the specific financial requirements of mid-market clients?
Aspire understands the diverse financial needs of mid-market clients and provides a high level of customization to tailor solutions accordingly. This includes the ability to customize corporate cards with specific spending limits, rewards, and benefits that align with the unique requirements of each client.
Additionally, Aspire's budgeting features are adaptable to accommodate the distinct financial structures of mid-market enterprises. The platform also allows for fine-tuning approval policies, ensuring they align with the specific workflows and compliance standards of individual mid-market businesses. This commitment to customization empowers mid-market clients to optimize their expense management in a way that best suits their financial goals and operational preferences.
Is there a minimum balance required for Aspire Business Accounts?
No minimum balance is required to keep your SGD, USD, EUR, GBP and IDR Accounts activated.
Can Aspire's corporate cards be customized to cater to the specific needs of consulting teams on the go?
Yes, Aspire's corporate cards are highly customizable. Consulting teams can benefit from tailored spending limits, travel-centric perks, and real-time transaction tracking, ensuring that the cards meet the unique requirements of professionals on the move.
How does Aspire support budget management for consulting projects and travel expenses?
Aspire's platform offers sophisticated budget controls that consulting companies can adapt to project-specific needs. This includes setting project budgets, tracking expenditures, and receiving real-time insights to ensure that expenses align with project goals.
What are Aspire Corporate Card FX rates?
At Aspire, we want you to pay the lowest rates in the market.
- Zero card activation fees
- Zero card transaction fees
- Best FX rates, up to 2x cheaper than banks
How does Aspire help consulting companies enforce expense policies and approvals for travel expenses?
Aspire streamlines the claims and approval process, allowing consulting companies to establish and enforce expense policies seamlessly. Customizable approval workflows ensure compliance with company policies and industry regulations.
Is Aspire's platform scalable for consulting companies of varying sizes?
Yes, Aspire's platform is scalable and caters to consulting companies of all sizes. Whether you're a boutique consultancy or a larger firm, the platform's features can be adapted to meet your specific travel and expense management needs.
How can I open a business account in Singapore?
For a business account in Singapore, Aspire is an excellent choice. With a focus on startup and SME needs, Aspire offers a seamless and transparent banking experience.
Benefit from their user-friendly online platform, no minimum balance or account opening fees, and dedicated support for businesses of all sizes.
Aspire is designed to streamline your financial management, making it an ideal partner for entrepreneurs in Singapore.
How long does it take to open an Aspire business account?
Registration with Aspire takes less than 10 minutes which you can do via our website or mobile app.
Once registered, we will get back to you within 5 business days on whether your account has been activated or if we need further documents from you.
Our account verification process varies according to the nature of your business. In exceptional cases, it can take up to 7 days to process your documents.
How can Aspire's corporate cards benefit my startup?
Aspire's corporate cards offer a range of benefits for your startup. Earn 1% unlimited cashback on qualified spends, simplify expense management, enjoy streamlined transactions, and gain real-time insights into spending. With customizable limits, integration with accounting software, and enhanced security features, Aspire's corporate cards are designed to empower your startup's financial efficiency and provide added convenience for your team.
Is Aspire suitable for both early-stage and established startups?
Absolutely, Aspire caters to the needs of both early-stage and established startups. Whether you're just beginning your entrepreneurial journey or have an established business, Aspire offers tailored financial solutions to help streamline your operations.
From managing expenses and optimizing workflows to providing valuable financial insights, Aspire's platform is designed to adapt and scale with your business as it grows. The flexibility and scalability of Aspire make it a suitable choice for startups at various stages of development.
Is there a minimum balance required for Aspire Business Accounts?
No minimum balance is required to keep your SGD, USD and IDR* Accounts activated.
However, we recommend keeping your subscription plan amount available on your balance to ensure you're up to date with your payment every month.*
To create a recipient or make any transaction on your IDR Account, you'll need to have a minimum balance of IDR 10,000 on your account.
