CIMB adds MESINKIRA to its suite of digital solutions for MSMEs
22 November 2022
The comprehensive retailing platform will assist MSMEs in operational efficiency through seamless digital adoption
Kuala Lumpur: CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) today announced a partnership with ModulEight Technologies Sdn Bhd (“MESINKIRA”) to onboard MESINKIRA, an integrated mobile business management solution to support the growth and digitalisation for micro, small and medium enterprises (“MSMEs”). This latest addition complements CIMB’s holistic suite of digital solutions which provides the assistance needed for businesses to continue thriving, whilst encouraging digital adoption amongst MSMEs.
MESINKIRA is a commercial platform that offers point-of-sale software including inventory management, payment and accounting, and reporting services to MSMEs. Its comprehensive suite of digital empowerment tools is aimed at aiding businesses in key business operation areas from a wide range of trades and industries to help accelerate business growth in a simple and efficient manner. One of MESINKIRA’s key solutions is its integrated in-house financial analysis and reporting function which adheres to regulatory compliance and exhibits precise data management, while maintaining accounting best practices.
The collaboration was sealed at a signing ceremony held in Kuala Lumpur with CIMB represented by Jaya Balan Kathiravalu, Head, Commercial Banking, SME Banking, while MESINKIRA was represented by its Chief Executive Officer, Syed Omar Syed Abu Bakar Almohdzar. Witnessing the ceremony were Ahmad Shazli Kamarulzaman, Deputy Chief Executive Officer, Group Commercial Banking, CIMB Group and Muhammad Siddiq Abdul Rashid, Chief Financial Officer, MESINKIRA.
Victor Lee Meng Teck, Chief Executive Officer, Group Commercial Banking, CIMB Group said, “As a purpose-driven organisation that continues to prioritise customer centricity, CIMB is pleased to welcome MESINKIRA as the latest partner to our selection of business transformation tools made available to our MSME customers. The availability of this digital-first and cost-efficient solution is a highly practical value-add to MSMEs which will enable them to leverage business opportunities in the e-commerce sphere. This latest offering also reaffirms CIMB’s continued commitment to support the development of MSME businesses, which form the backbone of the Malaysian economy, as they continue to accelerate their business growth post-pandemic."
Syed Omar Almohdzar said, “MESINKIRA intends to support and help MSMEs grow, digitalise their operations and boost their net income and creditworthiness. This is achievable through our Retail Operations Support System (“ROSS”) which is truly end-to-end, easing business operations and reconciliation. MESINKIRA is honoured to be working with CIMB to provide growth opportunities for MSMEs and help them become financially literate, thus moving them toward a financially inclusive ecosystem. This partnership is a true testament to the ecosystem with service providers and financial institutions working hand-in-hand to make a difference to the B40 and micro SME segments, aligned with the principles of Environmental, Social and Governance (“ESG”)."
MESINKIRA is the latest solution extended to CIMB’s SME customers to ease the transition to digitisation by lowering the barrier to entry for businesses wishing to digitise their operations. The MSMEs will also be invited to complimentary webinars and workshops that include tutorials on the importance and methods of digitising business operations, as well as MESINKIRA’s digital payment function for businesses.
CIMB is currently offering a special deal to its existing SME customers where they will be able to enjoy a three-month fee waiver on any MESINKIRA subscription packages, available from 4 November 2022 until 31 December 2023. Additionally, an exclusive offer is also extended to MESINKIRA’s existing merchants to open a CIMB Business Current Account-i with a minimum deposit of RM500 instead of the usual minimum requirement of RM1,000.
(From left)Jaya Balan Kathiravalu, Head of SME Banking, Group Commercial Banking, CIMB; Ahmad Shazli Kamarulzaman, Deputy Chief Executive Officer, Group Commercial Banking, CIMB; Syed Omar Syed Abu Bakar Almohdzar, Chief Executive Officer, ModulEight Technologies Sdn Bhd and Muhammad Siddiq Abdul Rashid, Chief Financial Officer, ModulEight Technologies Sdn Bhd at the signing ceremony
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