CIMB Group (CIMB) have entered into a partnership with Axiata Digital Capital (ADC), a fintech services provider under Axiata Digital that provides financing solutions to potentially 700,000 small and medium enterprise (SME) customers in Malaysia and Indonesia through ADC’s Micro lending platform, Aspirasi.
The partnership – signed by Victor Lee Meng Teck, CEO of Group Commercial Banking, CIMB Group and Sheyantha Abeykoon, CFO of Axiata Digital and Director of Axiata Digital Capital, marks a significant milestone for both entities as this represents the first regional collaboration between a bank and a digital services provider that is focused on fueling the growth of micro and small SMEs.
“Customers are at the heart of all our initiatives. To that end, we are pleased to partner Axiata Digital Capital to strengthen our digital proposition to potentially 700,000 SMEs in Malaysia and Indonesia enabling them to gain access to financing solutions seamlessly and speedily to support their growth. Through this collaboration, we aim to fulfil SMEs’ unique needs based on their different business life stages. Further, CIMB will also extend end-to-end support for SMEs to expand their businesses both within their home market and off-shore, by leveraging on our strong regional footprint and network,” said Victor Lee.
“We are excited to collaborate with CIMB, an organization which shares in our vision of empowering small-time businesses through digitally inclusive technologies. Our new digital financing platform, Aspirasi, offers a novel digital loan application journey with instant underwriting and fast disbursement, offering customers an unparalleled experience from any offered in the market today,” said Sheyantha Abeykoon.
