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HSBC Malaysia enhances proposition to support SMEs

16 Jan 2020 / 22:25 H.

KUALA LUMPUR: HSBC Malaysia has utilised its market insights to enhance its business banking proposition to better support SMEs in growing their business, it said in a news release.

The enhanced proposition provides SMEs with dedicated relationship managers and banking specialists who are committed to their long-term growth, and is a one-stop shop offering access to HSBC’s digital banking solutions, easy payments and collections, access to funding, on-demand support and quick resolution of issues.

HSBC Malaysia country head of commercial banking Andrew Sill said it intends to put SMEs, who make up 98.5% of business establishments in Malaysia and contributed 38.3% to the nation’s GDP in 2018, at the heart of everything it does.

“We did extensive market research to understand the needs of SMEs and based on the insights collated, we enhanced and developed a range of offerings and streamlined processes.

“This was to ensure that we were able to develop and deliver a unique proposition that supports SMEs current and future needs, be it growing domestically or expanding to new markets, essentially supporting them across their growth journey,” added Sill.

While the global trade and economic environment has gone through rapid changes in recent times, Malaysia’s economic potential is one of the reasons why businesses should be optimistic, and growth expectations among Malaysian companies are strong, the statement noted.

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