KUALA LUMPUR: AmBank Group has introduced the nation’s first fully end-to-end electronic business current account opening service, providing contactless experience for digital onboarding of small and medium enterprises (SMEs).
In a statement, the bank said among other things, the service will help retail SMEs to grow and look out for new opportunities during the Movement Control Order (MCO) period by leveraging AmBank’s digital capabilities.
Group chief executive officer, Datuk Sulaiman Mohd Tahir said the new value-added proposition is part of AmBank's digital transformation journey to enhance its customers' banking experience by making it convenient, fast, secure and truly digital.
Meanwhile, group chief operations officer, Datuk Iswaraan Suppiah said the end-to-end solutions will allow SMEs to fast track their digitisation journey, especially in the wake of the current pandemic.
"This is fully in line with our government’s effort to digitise SMEs, and establishes our commitment to ensure SMEs are equipped to deal with the new normal," he said.
AmBank said when an application is submitted by a representative of the company, business owners or directors will be alerted to perform digital verification from their mobile phones to reaffirm the company’s intention to open a bank account.
The service also allows instantaneous registration for AmAccess Biz, AmBank’s digital banking channel dedicated to SMEs.
"The solution is currently in a pilot phase and will soon be available to new partnerships and private limited companies in the first phase, and sole proprietorships in the second phase," it said. - Bernama