AFFIN Bank Bhd has bagged the “Best Bank for Digital Solutions, Malaysia” category for the development of its innovative digital flagship mobile app, SME Colony, at the recent Asiamoney Best Bank Awards 2022.

Rolled out in 2019, SME Colony is the first small and medium enterprises (SMEs) community-centric mobile app in Malaysia to help SMEs improve business knowledge, enhance financial wellbeing and expand commercial networking through a digital platform.

One of the main purposes of the SME Colony app is to foster the SME community development through meaningful and impactful engagement with like-minded organisations and business enterprises through the SMEngage approach.

Version 3.0 of the SME Colony app goes beyond traditional banking services with the introduction of financial inclusion solutions to meet the demands of niche groups (such as women entrepreneurs) and to boost SMEs’ business development efforts through the AffinGem and AffinWRKFZ proposition respectively.

Additionally, the SME Colony app promotes SMEs’ understanding and adoption of environment, social and governance (ESG) practices in anticipation of SMEs’ ability to establish the best ESG standards globally.

Affin Bank president and group CEO Datuk Wan Razly Abdullah (centre) said this recognition demonstrates the bank’s dedication to provide a seamless, comprehensive and relevant digital experience that goes beyond banking, with clients and their ever-evolving needs.

“In order to continue serving as the bank of choice for SMEs, we will continue to stay committed in maximising the power of digital mobile solutions and investing resources to continuously enhance SME Colony’s user experience. 

“Our goal is to make the best out of the mobile channel to benefit the SMEs, which is a significant economic segment for Malaysia yet, very underserved digitally by financial institutions,” he said in a statement today.

The Asiamoney Best Bank Awards honour and commend banks for their outstanding performance during the previous 12 months in a variety of crucial banking activities, particularly in Asia. 

Results of the survey are based on in-depth responses from industry participants and visits to the country by senior editors from Asiamoney.

Prior to this, Affin Bank had won numerous awards, including an honourable mention for the “Product Innovation of the Year” category at the Global SME Finance Awards 2021 for the app’s digital innovation, customer-centricity experience and focus on financial inclusion. — TMR / pic courtesy of Affin Bank