AmBank to launch a fully end-to-end  Digital On-boarding for SMEs in the country


AMMB Holdings Bhd (AmBank) launched its first fully end-to-end electronic business current account opening for SMEs.

This is the bank’s contactless customer experience initiative for digital on-boarding where it completely eliminates the need for a physical meeting, which is essential during the movement control order (MCO) period.

In a statement today Ambank said this new value-added proposition will give both business sustainability and allow retail SMEs to grow and lookout for new opportunities, even during the movement restriction period.

“When an application is submitted by a representative of the company, all owners or directors will be triggered to perform digital verification from their mobile phones to reaffirm the intention of the company to open a bank account.

“As part of AmBank’s digital transformation journey, we are continuously curating seamless customer experiences by introducing digital innovations with our customers in mind – to enhance their banking experience with us, making it convenient, fast, secure and truly digital.” said Datuk Sulaiman Mohd Tahir, GCEO Officer, AmBank Group

Ambank added banking institutions play an important role in supporting the development and growth of the SME segment.

“Our end-to-end digital on-boarding solution 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,” said Datuk Iswaraan Suppiah, GCOO, AmBank Group.

This seamless approach to on-boarding SMEs also allows instantaneous registration to 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 Sdn Bhds in the first phase and Sole Proprietorships in the second phase,” said Ambank.

Digital account opening for SMEs is part of AmBank’s innovative roadmap to empower SMEs with essential tools to manage their finances, access working capital, grow and digitise their business models entirely online.