a day ago
- Business
- New Straits Times
SME Bank, BSN join forces to boost local entrepreneurs
KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) and Bank Simpanan Nasional (BSN) have joined forces to support the growth of homegrown entrepreneurs.
The collaboration aims to enhance access to financing, build capacity and promote digital adoption, strengthening the role of development financial institutions (DFIs) in nation-building.
In a statement, SME Bank said the initiative aligns with the National Entrepreneurship Framework under the Madani Economy.
Acting group president and chief executive officer Datuk Dr Mohammad Hardee Ibrahim said the bank is committed to fostering inclusive and sustainable national growth.
He said the commitment is achieved by forging strategic partnerships that enhance access for SMEs, enabling them to embrace innovative digital solutions.
He said the key part of the partnership is that BSN's large group of microfinance customers will be able to use SME Bank's range of digital tools, designed to help MSMEs grow.
"In particular, is through our ScoreXcess, a one-stop business financing application portal for small and micro financing operated by our capacity building and training arm – Centre for Entrepreneur Development and Research.
"By leveraging our combined expertise, this partnership signifies a strategic collaboration between two DFIs, reflecting our shared commitment to accelerate entrepreneurial growth and deliver tailored support that addresses the dynamic needs of today," Mohammad Hardee said.
SME Bank's digital transformation journey, anchored by platforms such as ScoreXcess, ELSA and ODELA, has been instrumental in supporting nearly 5,000 SMEs across strategic sectors from 2021 to 2024.
These platforms are designed to enhance access to financing and to provide structured assessments and market access, forming a comprehensive digital ecosystem to accelerate SME growth.
Through this collaboration, ScoreXcess platform has facilitated the submission of 89 applications, amounting to RM 3.2 million in financing requests.
This initiative highlights how strategic partnerships can enhance the reach and effectiveness of SME Bank's digital ecosystem, solidifying its role as a catalyst for SME development nationwide.
