SME Bank ties up with TM, Commerce.Asia for SME funding digitalisation

KUALA LUMPUR, May 2 (Bernama) -- Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), an agency under the Ministry of Entrepreneur Development, has signed two Memoranda of Understanding with Telekom Malaysia Bhd (TM) and Commerce.Asia to develop the National Small and Medium Enterprise (SME) Digital Platform which will provide financing access for small and micro enterprises.

In a statement issued today, SME Bank said the agreement with TM was signed on Tuesday, which enables the bank to gain access to TM’s digital infrastructure and services such as high-speed Internet, data centre and cloud computing, while allowing it to explore digital solutions for the SME’s financing needs.

The collaboration with Commerce.Asia will increase the National SME Digital Platform through access to more than 700,000 SME database in Malaysia, besides getting access to a complete e-commerce technology ecosystem.

“The National SME Digital Platform is one of the efforts by SME Bank which is comprehensive and represents a solution for the bank to become the leader in the SME ecosystem, built on the Industrial Revolution 4.0 wave, besides giving us the ability to make decisions based on improved data and portfolio management,” said SME Bank group president/chief executive officer, Aria Putera Ismail, in the statement.

He further said that the National SME Digital Platform would change the way the SMEs are assisted and was developed to also drive the SME contribution to the national economy.

-- BERNAMA