Banks partner CGC to widen access to banking services

KUALA LUMPUR (June 22): The Association of Banks in Malaysia (ABM) said some of its member banks have partnered Credit Guarantee Corporation Malaysia Bhd (CGC) in the latter’s online loan referral platform to facilitate access to banking and payment services.

The platform, called imSME, was launched in February 2018 and is the first online SME financing/loan referral platform in Malaysia.

“It is an exclusive channel for small and medium enterprises (SMEs) to access loan options including non-collateral financing options. The platform allows SMEs to access fast and real-time information on financing/loan options conveniently, then search for financing/loan by participating banks and apply for loan/financing from a single platform,” ABM said in a statement yesterday.

The association said digital innovation in financial services has the ability to widen access to banking and payment services which would enable customers to have not just greater choice in terms of products and services, but also better access to banking services.

“For individuals, particularly those seeking mortgage financing, our member banks are ready to provide loans to eligible house buyers. The banks have various financing packages to suit the needs of different house buyers, including for first time house buyers. Consumers are therefore, encouraged to shop around to find a suitable package which best caters to their needs,” it said.

ABM added that potential individual house buyers are also encouraged to join Agensi Kaunseling and Pengurusan Kredit (AKPK)’s RUMAHKU, a free online financial education module on home loans available.

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