KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd are partnering with Shopmatic, an e-commerce provider, to help Malaysian small and medium enterprises (SMEs) build and scale up their businesses in the e-commerce space. The initiative, said CIMB in a statement yesterday, is part of the group’s new three-pronged SME business proposition to provide a complete suite of financing and business solutions to its customers. These solutions comprise SME Financing (for no-collateral and business property financing), SME Transact (cash management services), and SME Partners (which provides services like logistics, workspace, digital connectivity and e-commerce, accounting and human resource solutions). “This partnership with Shopmatic aims to help SMEs take advantage of global online business opportunities. “In addition to financing, SMEs can also avail themselves of CIMB’s expertise, regional footprint and business networks for their development,” said CIMB Group chief executive officer (CEO) of group commercial banking, Victor Lee Meng Teck.

Source: The Edge Markets February 13, 2020 01:51 UTC