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The post Singapore Gulf Bank Launches Virtual Accounts to Reduce Payment Delays appeared first on Coinpedia Fintech News Singapore Gulf Bank has launched a new Virtual Accounts service for businesses to manage payments more easily. The system helps companies collect money, track payments, and match records in real time.  Meanwhile, this makes payment work faster and reduces delays caused by manual processing. Singapore Virtual Accounts Service Goes Live According to the February 7 announcement, Singapore Gulf Bank introduced its Virtual Accounts framework to help corporate customers manage collections and outgoing payments more efficiently. The service is built for businesses that handle large transaction volumes and need faster visibility over incoming funds. However, the bank said the new setup is designed to simplify treasury workflows by reducing reconciliation gaps and improving payment identification speed. The new system combines collect-on-behalf-of and pay-on-behalf-of features within one account structure. Businesses can generate unique identifiers for each payer, invoice, or internal unit. This allows every payment to be automatically tagged and matched without heavy manual checking. Singapore Gulf Bank (SGB) announced the launch of SGB Virtual Accounts, providing enterprises with automated collections and cash management. The service combines collect-on-behalf-of (COBO) and pay-on-behalf-of (POBO) functions enabling unique structured account identifiers for… — Wu Blockchain (@WuBlockchain) February 9, 2026 With structured account labels, finance teams can quickly track who paid and why, instead of reviewing mixed transfers line by line. This approach supports cleaner books and faster reporting cycles. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read :   Top Crypto Market Events to Watch This Week: CPI, Fed Speakers,…

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Filed under: News - @ February 9, 2026 3:29 pm