SME Bank, BSN join forces to boost local 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sinar Daily
a day ago
- Sinar Daily
Alliance Bank launches Malaysia's first SME business pitch film to inspire entrepreneurial resilience
SHAH ALAM - Alliance Bank Malaysia Berhad made history with the launch of The Ultimate Elevator Pitch, Malaysia's first feature-length SME business pitch documentary, offering a cinematic portrayal of entrepreneurship. Streaming exclusively on iQIYI from July 18, the film highlights the real-life journeys of 13 entrepreneurs from the 2024 BizSmart® Challenge: Accelerator Edition. In conjunction with World MSME Day, Alliance Bank Malaysia Berhad unveiled The Ultimate Elevator Pitch, a pioneering feature-length documentary spotlighting the entrepreneurial journeys of 13 finalists from the 2024 BizSmart® Challenge. This milestone initiative represents a convergence of business development, cinematic storytelling and digital media, making it the first of its kind in Malaysia. The film, directed by Co-Founder and Chief Executive Officer (CEO) of Ampersand Advisory, Sandeep Joseph, offers rare behind-the-scenes access to high-stakes business pitches, mentorship sessions and the personal challenges encountered by SME founders. The Ultimate Elevator Pitch is available on iQIYI on July 18. "We see entrepreneurs as heroes and that is how we approached this movie. It is raw, relatable and relevant. These are the stories of Malaysia's future business leaders, told without filter," Sandeep said. Alliance Bank Group CEO, Kellee Kam, described the film as a portrait of resilience and ambition. "It is a celebration of the changemakers building our future. For over a decade, we have supported entrepreneurs beyond financial services. This movie invites the public to witness the grit, vulnerability and determination behind Malaysia's SME founders," Kam said. The documentary also serves as a prelude to the 2025 BizSmart® Business Conference (ABBBC), scheduled for Oct 7 at W Kuala Lumpur. Themed "Boundaries Reimagined", the conference will bring together over 35 speakers, including high-growth founders, seasoned investors and BizSmart® alumni such as Timothy Tiah, Winnie Loo, Radius Khor, Mah Jun Kit, Nor Arieni and Dr Jay. Topics will range from cross-border expansion to digital disruption and resilient brand building. The 2024 BizSmart® Challenge marked its 10th anniversary with the introduction of the Accelerator Edition, drawing a record-breaking 593 submissions. It included a multi-stage evaluation; a four-day accelerator programme, a 60-second Elevator Pitch and a final pitch to a panel of industry leaders. Every finalist received a prize, with BioLoop, Gula Cakery, and HiiVolt emerging as the top three, collectively earning a share of RM550,000. Highlighting its role as a pioneer in SME financing, Alliance Bank extended its support through a suite of financial tools beyond conventional banking. These included venture capital via 1337 Ventures and 5X Capital and funding from Cradle's MYStartup and Credit Guarantee Corporation Malaysia Berhad (CGC). In line with current digital consumption trends, the film will stream exclusively on iQIYI. Head of Brand Partnerships, APAC & Middle East at iQIYI Evangeline Song said this was the first time a bank-led SME initiative has been transformed into a cinematic experience that balances heart and ambition. "It highlights the highs, lows and spirit of local founders who are taking bold steps to shape their future," Song said. The idea for The Ultimate Elevator Pitch was sparked by a single insight: entrepreneurship is not just strategy — it is deeply emotional. "This is more than a celebration of success. It is a visual archive and story of what it takes to build a business in today's Malaysia," Sandeep added. Alliance Bank reaffirmed its commitment to inclusive entrepreneurial growth through its early bird promotion for ABBBC 2025, with ticket prices starting at RM88 until July 3. The conference aimed to facilitate networking, business matching and dissemination of strategic insights for SME development. For more information on the BizSmart® Challenge, visit To watch The Ultimate Elevator Pitch, visit iQIYI starting July 18. For details on the 2025 BizSmart® Business Conference, visit
The Sun
3 days ago
- The Sun
High MyKad usage for SARA programme in Sabah, says deputy minister
BELURAN: Sabah has recorded a high adoption rate of MyKad for the Sumbangan Asas Rahmah (SARA) programme, with 94 per cent of recipients using it to purchase essentials at registered outlets. Deputy Finance Minister Lim Hui Ying revealed that 506,000 individuals receive SARA aid, with RM500 million approved annually. Currently, nearly 4,000 grocery stores and supermarkets nationwide are registered under the programme, a significant increase from 700 in 2024. Sabah alone has over 430 participating outlets, with plans to expand further for better accessibility. Lim noted that the government has broadened the range of eligible items under SARA, adding domestic cleaning products like soap, detergent, and floor cleaners from May 1. She made these remarks during a working visit to Beluran with Finance Ministry officials. The visit aimed to monitor the implementation of Rahmah Cash Aid (STR) and SARA while engaging directly with beneficiaries. 'This allows us to evaluate the aid's effectiveness and gather feedback, especially from rural Sabah,' she said. In Malaysia, 566,000 STR recipients lack bank accounts, with 62,000 in Sabah alone. During the visit, nearly 400 unbanked Beluran residents received STR cash payments. Lim also shared that RM410 million has been disbursed for STR Phases 1 and 2 in Sabah, with two more payments scheduled for August and November. To assist rural communities, Bank Simpanan Nasional (BSN) deployed a Mobile Bank Branch, offering deposits, withdrawals, and financial advice. 'This service eases access to banking for Beluran's rural population,' she added.
The Star
3 days ago
- The Star
KWAP finalises 12 general partners under Dana Pemacu's RM6bil fund allocation
KUALA LUMPUR: The Retirement Fund Inc (KWAP) today announced the shortlisted 12 global general partners (GPs) with an allocation of RM6 billion across both conventional and Shariah-compliant funds under the Dana Pemacu initiative. In a statement, KWAP said the funds will be channelled into three key asset classes, namely private equity, infrastructure, and real estate, targeting key economic sectors including food security, education, silver economy and healthcare, energy transition, digital economy, financial inclusion and other critical priorities under the MADANI Economy framework. It said Dana Pemacu, launched in May 2024, plays a pivotal role in advancing Malaysia's economic transformation by strategically deploying diversified and commercially viable investments to enhance the value and impact of government-linked investment company investments. "By adopting a co-general partner (Co-GP) model, which pairs global investment managers with local talent, Dana Pemacu strengthens Malaysia's private market ecosystem, driving sustainable growth, enhancing domestic capacity, and bringing global expertise to the local market while fostering economic resilience across key sectors,' said KWAP. It said that for private equity, Investcorp, Navis Capital Partners, Nexus Point, and The Vistria Group are the selected GPs, and as for infrastructure, the mandate is allocated to Climate Fund Managers, DigitalBridge, I Squared Capital, and Seraya Partners. "Under the real estate mandate, the GPs are Castleforge Partners Limited, Lendlease Investment Management Pte Ltd, Savills Investment Management, and TrustCapital Advisors Investment Management Pte Ltd. "As part of the Co-GP model under Dana Pemacu, all global GPs have also finalised the selection of local partners pursuant to their thorough assessment process and are currently undergoing the necessary regulatory approvals,' it said. Chief executive officer Datuk Nik Amlizan Mohamed said KWAP received positive interest from global GPs since the launch of Dana Pemacu, with more than 40 submissions obtained for consideration. "Following rigorous evaluation and due diligence processes, KWAP has shortlisted these 12 global GPs that would further contribute meaningfully to Malaysia's private market ecosystem. "KWAP recognises the strengths of the selected global GPs as they have proven track records and experience in managing investments and driving performance,' she said. Aligned with KWAP's objective to support the domestic economy, the majority of KWAP's total investment under Dana Pemacu will be deployed in Malaysia, and in Shariah-compliant opportunities. - Bernama
