AmBank to equip ezAuto dealers with SME-in-a-Box

Aaron Loo, managing director, retail banking, AmBank: “We are constantly enhancing our product propositions for all SMEs out there to address their respective needs, especially during these challenging times."

KUALA LUMPUR: AmBank has teamed up with ezAuto.MY to equip the latter’s 4,325 dealers with “SME-in-a-Box”, which offers comprehensive financial, connectivity and digital solutions for SMEs.

Under AmBank’s partnership with ezAuto, the SME-in-a-Box bundled deal for ezDealers is available through its hire purchase, floor stock and floor plan offers.

The bank said on Wednesday that SME-in-a-Box provides SMEs additional value for their operating account, payroll, transactional services, merchant terminal, cashless payment solutions and gives quick access to working capital financing.

ezAuto is online platform which aims to connect all car stakeholders in a transparent and risk-free marketplace, starting with car dealers and end users.

In addition to the floor stock facilities with longer interest rebate and repayment tenures, attractive rates on business current accounts, flexible working capital financing and merchant terminal offers, ezDealers will benefit from AmBank’s partnership with Maxis.

The partnership with Maxis will enable them to save up to RM5,000 for their Maxis mobile plan, fibre internet and business solutions with the government’s SME Digitalisation Grant.

Aaron Loo, managing director, retail banking, AmBank said due to the impact from the Covid-19 pandemic, the bank is conscious that SMEs have had to adapt to a steep learning curve.

“We are constantly enhancing our product propositions for all SMEs out there to address their respective needs, especially during these challenging times. We are committed to grow our hire purchase market share by providing viable financing solutions for both dealers and our customers, ” he said.

Loo said AmBank recognises the need for SMEs to be digitally ready, especially now. This partnership with Federation of Motor & Credit Companies Associations of Malaysia (FMCCAM) and ezAUTO allows AmBank to address the current challenges faced by the automotive industry, he said.

FMCCAM president Datuk Tony Khor said the SME-in-a-Box bundled deal is a welcome boost to its members, especially in uncertain times like this.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


50% readers found this article insightful

Next In Business News

Slack’s CEO is back in the passenger seat after Salesforce deal
Natural gas to contribute RM400mil to public finances over next decade
SCIB units secure EPCC contracts worth RM271mil
Flipkart’s digital payments firm PhonePe to raise US$700mil from existing investors
Astro posts RM164.5mil profit in Q3�
Bursa rallies with over 900 counters in positive zone
More US-listed Chinese firms seen seeking backup listings
Cagamas prices RM2bil debt notes 30-45 bps above MGS, MGII
Corporate Singapore faces crunch time in rare clash with activist funds
Grab 'in a position to acquire' after Gojek merger report

Stories You'll Enjoy