One Kampong Gelam ties up with CIMB Bank to enhance digitalisation efforts

One Kampong Gelam (OKG) has collaborated with CIMB Bank in efforts to help Kampong Glam businesses in their digitalisation efforts. The collaboration aims to support local SMEs to digitalise their cash management activities. According to a press release, OKG members will be offered rates up to 1.88 percent per annum on their CIMB BusinessGo (BizGo) current account, and property financing facilities for properties located at the OKG precinct at a lower rate of less than 3 percent per annum, helping the businesses to lower their cost of borrowing. Saeid Labbafi (pictured left), chairman of OKG, said that the partnership aligns with its primary objective, which is to help its members get “better services” through its partners. He adds that the offers of the partnership are “exclusively for members of OKG” and the company intends to launch more initiatives with CIMB in the future. “We are proud to be the first bank to enter into such an agreement with OKG. The business environment of today has become increasingly competitive with disruptions from technological changes and digitalisation adding to the dynamic mix," said Mak Lye Mun (pictured right), CEO of CIMB Bank. With this partnership, CIMB Bank can now support the businesses within OKG with our functional array of products and services to better equip them to compete successfully in the marketplace. We look forward to a long and successful partnership with OKG and its members,” he added. Read also: Kampong Glam embarks on first phase of digitisation CIMB and SimplySiti tie-up for halal beauty business CIMB’s digital banking lead takes on new role in CX