KUALA LUMPUR: 13 February 2018 – SME Bank has embarked into the initiative to improve its service delivery through the Blue Ocean Strategy (BOS) methodology by introducing the Bank’s new online application system called MySMEBank for customer to apply financing. With a tagline, ‘Apply Anytime Anywhere’, this online application system is to provide the entrepreneurs with a full digital customer experience end to end.
With the implementation of the online application system, the Bank will be able to cut turnaround time to a mere 14 days which takes a total of 41% steps reduced as the process of application to disbursement are now entirely online. However, for those clients who are not eligible for financing from SME Bank, they will be referred to our subsidiary, Centre for Entrepreneur Development and Research Sdn. Bhd. (CEDAR) and Entrepreneur Development Division (EDD) for advisory and training.
Dato’ Razman Mohd Noor, Chief Operating Officer, Operations & Group Corporate Management of SME Bank said, “MySMEBank is to provide a seamless way to apply financing and it will also enhance the turnaround time in a more dynamic and systematic way from the point customer applying for financing up to the point of disbursement. In addition, this system is integrated with the Book Your Banker (BYB) system where entrepreneurs are able to get in touch directly with the Bank’s officers to set an appointment at any of the SME Bank’s network branches of their choice”.
MySMEBank online application system is one of the initiatives under the National Blue Ocean Strategy (NBOS) introduced by the Government. Since going on live mode on 2 February 2018, 100 entrepreneurs have registered in the system and nine (9) financing applications have been submitted with complete documentations. Moving forward, SME Bank will further improve the MySMEBank online application system by having a fully digitalized process for approvals and disbursements.
SME Bank strives to deliver the mandate given by the Government; to provide financing and nurturing the development of the SMEs thus aiming to become a full-fledged specialized financial institution and an international benchmark for nurturing SME excellence.
The MySMEBank online application system was launched by YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry today.