KUALA LUMPUR: RHB Banking Group has introduced Smart Interview, a virtual feature which forms part of RHB Financing (SME) Mobile App.
The bank said the new feature, which is the first in Malaysia and Southeast Asia allows small and medium enterprise (SME) customers to complete financing applications, which include interviews and site inspections virtually through their mobile devices.
Smart Interview utilises facial recognition technology and draws upon various technological innovations embedded into the existing RHB Financing (SME) Mobile App to provide an alternative to physical interaction.
RHB said the latest version of the App had also been refreshed with additional features such as integrated MyKad checks and API data matching to enhance fraud detection and customer security.
Through this digital platform, customers are able to submit and undertake all actions required to complete their applications online, which includes the uploading of supporting documents.
Status of application is made available in real time via the Mobile App.
“The new Smart Interview feature within the RHB Financing (SME) Mobile App addresses shifting customer preferences towards remote loan and financing applications, especially within the COVID-19 pandemic environment,” RHB Banking Group head of group business and transaction banking Jeffrey Ng said in a statement.
“The application process is simplified by removing the need to conduct physical site visits to business premises as well as in minimizing the amount of supporting documentation required.
“As such, we are able to provide business owners a more convenient, secure, and seamless experience for them to submit and complete their applications from the comfort and safety of their own offices,” he added.
The RHB Financing (SME) Mobile App complements the RHB SME Online Financing web portal, which is powered by artificial intelligence, machine learning and big data capabilities, in offering end-to-end innovative and versatile financial solutions for SMEs.
"The RHB SME online financing web portal and RHB Financing (SME) Mobile App have benefited more than 2,000 SMEs, with a total financing of approximately RM500mil being approved in support of small businesses in Malaysia up to March 2021.
“As part of our wider RHB SME Ecosystem, both the web portal and Mobile App have attracted much interest from SME owners, where we have seen an overall increase of more than double in terms of application value over the past year.
With these latest enhancements, we expect to further extend another RM500mil in financing to small local businesses this year,” Ng said.
SMEs may apply for financing facilities of up to RM1mil through the RHB Financing (SME) Mobile App, with payment tenor of between 6 to 84 months without the need for collateral.