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Hong Leong Bank Malaysia targets SMEs with suite of digital solutions

Hong Leong Bank has launched a suite of digital business and financing solutions that will provide cash management, advertising and promotion (A&P) solutions, as well as property financing and working capital scheme to support SMEs for their day-to-day business operations.

Apart from Hong Leong Bank’s own platform, HL ConnectFirst Lite, the Bank also has collaborated with partners Biztory, Kakitangan, SimpleTax and Digital Advert to put together a holistic Digital Business Solutions to empower the SMEs of today. Hong Leong Bank’s Digital Business Solutions consists of four e-tools that allow SME customers to conduct key back office administrative and marketing functions easily.

The offerings are Biztory, an e-accounting and invoicing software solution, Kakitangan, an e-HR platform that manages human resource functions such as the payroll system, SimpleTax , an online Sales & Services Tax and Income Tax advisory tool as well as Digital Advert, an industry pioneer service that offers affordable outdoor digital advertising package to an access of 3,500 digital screens in Malaysia.

“As automation and digitisation rapidly change the way businesses operate, Hong Leong Bank strives to help our customers step up and future proof their businesses by providing them with a comprehensive digital business and financial solutions that will enable them to be competitive in the market.  We believe in empowering them with the right functional tools under a one-stop Digital Business Solutions that will help them to be more agile and efficient, so that they are able to focus on pursuing avenues and opportunities for growth,” Domenic Fuda, group managing director and chief executive officer of HLB, said.

HL ConnectFirst Lite is an online banking platform which allows SME customers to conduct online banking transactions easily.  This platform offers complimentary cash management solutions of Current Account facilities and Merchant solutions.

In addition, HLB has also launched SMElite, a property-backed financing scheme which allows SMEs to secure loans for property purchases and working capital financing. This scheme is guaranteed by Credit Guarantee Corporation Malaysia Berhad (CGC) through its Portfolio Guarantee (PG) Scheme.

“We are committed to supporting the development of SMEs in Malaysia which is crucial for the country’s economic progress. We have allocated a portfolio size worth RM1billion for the SMElite financing scheme to ensure we give SMEs an avenue of funding for growth,” Teoh said.

“We believe the SMElite scheme will be attractive to our SME customers who are looking to expand their businesses physically and are looking at real estate solutions. Through this scheme, customers will not only be able to acquire the relevant property for expansion purposes, but they will also have access to working capital to kickstart their expansion expenses such as relocation and renovation costs, as well as other related costs.,” he added.

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