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Maybank to continue partnering fintech companies on SME solutions
Last update: 06/09/2018

KUALA LUMPUR, Sept 6 (Bernama) -- Malayan Banking Bhd (Maybank) will continue partnering with financial technology (fintech) companies that can provide solutions for small and medium enterprises (SMEs).

Head of Innovation Amran Hassan said the bank spoke to more than 50 different companies from the region, mainly from Malaysia, Singapore, Thailand and Indonesia since it started its fintech segment four years ago.

“We have invited technology companies out there to talk to us and see if their products or services are relevant to Maybank.

“We are looking for firms with the right personality (to collaborate with). The better ones are those having more senior or ex-bankers in their teams,” he told reporters on the sidelines of the International Data Corporation Financial Services Innovation Summit 2018 here today.

Amran said Maybank is always open to collaborations without providing any details on existing partnerships.

On the type of fintech companies Maybank would collaborate with, he said it would be with companies which helped the bank provide better digital services as the group moves towards greater digitalisation.

“Its about improving customers’ (digital) experiences when dealing with Maybank, and about increasing our own efficiency and productivity while maintaining (the correct) risk levels,” Amran said.

Asked on regulatory support for the fintech sector, he said since Bank Negara Malaysia established the Financial Technology Enabler Group, it was easier for fintech companies or banks to initiate discussions with the central bank on new ideas.

“For example, they (BNM) launched the (fintech) sandbox where companies can test their new products.

“These steps by the central bank certainly help move the industry forward,” he said. 

For this year, Amran said Maybank would be looking for companies which support other small and medium enterprise (SME) companies. 

“In this year’s Maybank fintech programme, we launched what we call businesses-for-businesses (programme) where we look for technology-companies that we can partner with, to provide services to other SME companies,” he added.



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