Launch of Biz123 financial services platform by CIMB Bank (M) Bhd: CIMB Group Holdings Bhd chief executive officer Tengku Datuk Seri Zafrul Abdul Aziz (right) and CIMB Group group commercial banking CEO Yong Jiunn Run.
KUALA LUMPUR: CIMB Bank (M) Bhd has has launched a one-stop platform that offers a complete range of solutions for businesses, from sole proprietorships to small and medium-sized enterprises (SMEs).
CIMB Group
Holdings Bhd chief executive officer (CEO) Tengku Datuk Sri Zafrul Aziz said the platform, called Biz123, was aimed at providing the right support to businesses on issues like working capital, facility financing, cash management and sound advisory.
“We fully understand the challenges that businesses face, from making the best use of capital and abiding by regulations to managing a workforce and delivering the best customer experience,” he said.
Biz123’s value to customers centres around three pillars: fast and easy tools, complete solutions, and one-stop support.
The “fast and easy” pillar includes convenient online account opening, simpler documentation and faster loan disbursement on receipt of complete documentation (for selected industry segments).
“Complete solutions” meet business needs through a wide range of products from accounts and deposits, to financing for commercial, industrial and residential properties as well as other business-focused packages; while “one-stop support” includes a dedicated business call centre, dedicated business website (biz123.cimb.com) and dedicated relationship managers.
Tengku Zafrul said while Biz123 catered to SMEs, the platform could be useful for all businesses, no matter what stage of growth the companies may be in.
Currently, SMEs contribute 36% of Malaysia’s gross domestic product (GDP). By 2020, SMEs’ contribution could rise to well over 40% of GDP, according to CIMB Group’s deputy CEO of group commercial banking Ahmad Shazli Kamarulzaman.
Despite its importance, Ahmad Shazli said the sector remained an under-served demographic.
“CIMB’s main strength is our regional network, providing businesses with the whole Asean as a marketplace rather than limiting it to one of the countries,” he said.
CIMB Bank will focus on the value proposition of the platform rather than achieve any specific target on the number of users.
Currently, CIMB has half a million SME customers, with 2,500 staff members dedicated to SMEs.
Leading up to the launch of Biz123, which first started its planning stage half a year ago, CIMB’s staff went through extensive training to equip them with the skills to optimise customer help.
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