03 March 2021
Awards include Best SME Bank in Malaysia, Best Digital Transformation Initiative for SMEs, Outstanding Innovation in SME Banking and Most Innovative Credit Card
Kuala Lumpur: CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) garnered three awards at the Global Business Outlook Awards 2020 including Best SME Bank in Malaysia, Best Digital Transformation Initiative for SMEs and Most Innovative Credit Card. Alongside this, the bank was also recognised with the Outstanding Digital Innovation in SME Banking award by the Digital Banker Global Retail Banking Innovation Awards 2020.
The wins are testament to CIMB’s SME Banking unit’s focus on innovative, customer-centric programmes. This was amplified last year in response to the pandemic, with the bank looking at digitalising SMEs’ businesses and providing convenience through cutting-edge online banking solutions.
This includes the CIMB BizChannel@CIMB Mobile app for business customers, providing access to multiple accounts in multiple ASEAN countries on a single login, helping raise efficiency for account management across the region. The solution was introduced during the movement control order (MCO) in March 2020 to also minimise the need for face-to-face and over-the-counter procedures.
CIMB’s customer journey was further enhanced by CIMB’s Amazing Customer Experience (ACE) productivity tool. The product leverages on digitalisation and automation to significantly improve internal productivity and process efficiency through the elimination of time-consuming manual steps in the commercial loan application process. Customers benefit from a much faster and streamlined SME financing process and remain informed through automated notifications to their mobile number whilst also minimising the need for physical meetings.
Beyond financial services, CIMB has collaborated with leading digital companies to empower SMEs with the right skills and knowledge through webinars and talks to accelerate digital adoption. In the last two years, CIMB has hosted over 700 business talks and webinars to help SMEs remain resilient and able to navigate this challenging time.
Victor Lee Meng Teck, CEO, Group Commercial Banking, CIMB Group said, “We are pleased to receive these awards as it confirms the importance CIMB places on our customers. Notwithstanding a pandemic year, our teams have worked tirelessly to ensure our products and offerings exceeds our customers’ expectation in the new normal, pivoting our focus on our customer journey experience, delivering digital solutions so that customers may not need to visit a branch.”