KUALA LUMPUR, Aug 9 (Bernama) -- CIMB Group Holdings Bhd has entered into a partnership with Axiata Digital Capital (ADC) to offer financing solutions to about 700,000 small and medium enterprise (SME) customers in Malaysia and Indonesia.
CIMB group commercial banking chief executive officer Victor Lee Meng Teck said the fund would disbursed through ADC’s micro lending platform Aspirasi.
“Through this collaboration, we aim to fulfill SMEs’ unique needs based on their different business life stages.
“Further, CIMB will also extend end-to-end support for SMEs to expand their businesses both within their home market and off-shore, by leveraging our strong regional footprint and network,” he said in a statement today.
In March this year, CIMB announced its commitment to disburse RM15 billion to 100,000 SMEs in the 2019-2020 period.
Meanwhile, Axiata Digital chief financial officer and Axiata Digital Capital director Sheyantha Abeykoon said the partnership with CIMB would enable SMEs to gain access to financing solutions seamlessly and speedily to support their growth.
“We are excited to collaborate with CIMB, an organisation which shares our vision of empowering small-time businesses through digitally inclusive technologies,” he said.
Sheyantha said the new digital financing platform Aspirasi offers digital loan application journey with instant underwriting and fast disbursement, delivering an unparalleled customer experience.
“Axiata Digital aims to ensure a future-ready and financially inclusive society for the underserved, whilst showcasing the business benefits of ICT for success and growth for micro and SMEs,” he said.