Making things easier for SMEs

RHB Banking Group is on a mission. Its head of group business and transaction banking Jeffrey Ng says it wants to make life easier for SMEs.

This focus has helped the bank in its journey towards becoming among the top three banks for SMEs in Malaysia in terms of market share.

There is a lot on the bank’s plate as it aims to grow the SME segment under its FIT22 roadmap, which runs until 2022.

Ng says they intend to help SMEs through a few ways. This is by simplifying the loan application process, tailoring products and services to suit their needs, and by helping SMEs with the adoption of technology into their operations.

Some of the common problems faced by SMEs in trying to obtain financing, he says, include complicated and lengthy application processes, and sometimes, not having the proper guidance or information on the type of financing they should opt for.

To make things simpler, RHB has identified several strategies that would aid them. These include the adoption of technology, using analytics to better anticipate the needs of SMEs and taking an agile approach to design products and services.

Read more at The Star