KUALA LUMPUR, 24 October 2019 – RHB Bank Berhad (RHB) in partnership with SME Corporation Malaysia (SME Corp.) and the Ministry of Entrepreneur Development (MED) organised The Future SME Conference 2019 themed Engineering The Future recently, to help small and medium enterprises (SMEs) in the country embrace technology and innovation.
The conference is aimed at providing insights on techniques and solutions to accelerate the growth of SMEs, to ensure they remain relevant and competitive. RHB was among industry experts sharing insights on future business trends, innovations, technologies, strategies and best practices in the digital age of Industry 4.0.
In today’s rapidly evolving marketplace customer behavior changes drastically and technology disruption is prominent, the need for the usage of back-end high productivity enhancing digital tools are increasingly necessary to boost productivity and business performance for SMEs, said Dato’ Khairussaleh Ramli, Group Managing Director, RHB Banking Group in his presentation at the Conference.
“RHB will continue to play an active role in the digitalization journey of Malaysian SMEs. Our ever-evolving RHB SME e-Solutions, which forms part of RHB‘s SME connected banking ecosystem, complements our extensive experience in supporting the growth of SMEs in Malaysia. It helps business owners increase efficiency by seamlessly embedding everyday business solutions into their day-to-day business operations.”
Dato’ Khairussaleh Ramli, Group Managing Director, RHB Banking Group
The RHB SME e-Solutions platform is part of RHB’s “Beyond Banking” road map, in which the Bank assists SMEs in increasing efficiency by leveraging upon various integrated business solutions and tools such as accounting software, point-of-sales, HR solutions, and inventory management solutions.
They continue to focus on customer journey with innovative first-in-market digital solutions which includes the RHB iSMART Digital RM (relationship manager) tool for SME customer advisory, RHB SME Financing online for end-to-end digital SME Financing origination, and most recently in May 2019 it launched the API Enable SME Ecosystem to facilitate API integration with business solution partner Financio.
RHB targets to grant more than RM31 billion in new and additional financing, up to 2021, for SMEs. In the first half of 2019, RHB approved loans amounting to RM5.2 billion for approximately 2,000 SMEs with an approval rate of 82%.
The collaboration with SME Corp. is part of RHB’s continued efforts towards enhancing capabilities and competitiveness of SMEs, with the two-day conference from 15 – 16 October 2019 being attended by 500 businesses. The event was officiated by YB Datuk Seri Mohd Redzuan Yusof, Minister of Entrepreneur Development.