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KUALA LUMPUR – Maybank is eyeing to raise the participation of small and medium enterprise (SME) clients in Malaysia on its digital platform to 80% in the next 12 months through the launch of the Maybank2u Biz app.
Group chief executive officer of community financial services Datuk John Chong said at present, nearly 60% of SMEs in Malaysia are Maybank customers.
Of these, 67 to 68% are already on its digital platform, he told reporters after the launch of the all-new business banking app today.
According to the Statistics Department, there were about 1.15 million SMEs in Malaysia in 2020, representing 97.2% of total business establishments.
Group president and chief executive officer Datuk Abdul Farid Alias said the launch of Maybank2u Biz reaffirms the bank’s commitment to supporting the backbone of the country during this period of significant change.
“With its intuitive interface, easy navigation, and useful business tools, we believe Maybank2u Biz will be well received by SMEs,” he added.
Farid said Maybank2u Biz was developed to help business owners manage multiple tasks on the go.
It is suitable for partnerships, private limited companies, professional firms, educational institutions, clubs, societies, and associations.
Maybank2u Biz helps simplify day-to-day banking and is equipped with an invoicing tool that allows business owners to create, issue, and track invoices.
The bank said SMEs can also easily access their in-depth financial information through the application.
Maybank also introduced the Secure2u feature on the app to safeguard transactions.
The Maybank2u Biz app can be downloaded from the Google Play Store and Apple AppStore. – Bernama, October 5, 2021
