by BERNAMA/ pic by MUHD AMIN NAHARUL

BANK Simpanan Nasional has expanded the digital matching grant scheme with the addition of two new digitalisation fields, namely e-commerce and remote working, bringing the total number of digital services to seven fields.

Chief executive Datuk Yunos Abd Ghani said small and medium enterprises (SMEs) interested in obtaining matching grants only need to appoint a Technology Solution Provider (TSP).

“Application forms as well as supporting documents can be sent by email to any BSN branch in the state where the SMEs operate,” he told Bernama.

He said SMEs need to complete and submit their application form along with supporting documents to the bank for processing, make their payments to the selected TSP and submit the payment receipt to BSN or SME Bank, after which BSN will pay the balance to the TSP.

SMEs could previously get digital services involving electronic point of sale system, human resource employment system or customer relationship management, digital marketing, procurement and enterprise resource planning (ERP) as well as accounting and tax.

Yunos pointed out that ERP as well as accounting and tax have received the highest number of applications, followed by E-POS and digital marketing.

“To ensure this process runs more smoothly, soon we will revise the submission process whereby BSN will allow the application submission by the TSP,” he said.

Since the launch of the grant on Feb 17, he said, more than 1,000 applications from SMEs have been approved.

About 400 applications are pending approval mainly due to incomplete documents, Yunos said, adding that BSN usually takes a week for approval.

He encouraged SMEs to take advantage of the grant to help them facilitate their cash flow and continue their business in facing the current challenges due to COVID-19.

“For those who are still operating in the usual way, this opportunity should be seized to ensure that businesses conducted can be sustained,” he said.

BSN is the main leader of this initiative in partnership with SME Bank Group and Malaysia Digital Economy Corporation (MDEC).

The scheme provides a 50 per cent matching grant with a total of up to RM5,000 per company to subscribe to digitalisation services.

These matching grants amount to RM500 million for a period of five years and is limited to the first 100,000 SMEs who apply to upgrade their system.