Online Banking Trends / Alliance BizSmart

The Malaysian SME sector remains a robust and growing market; approximately 99.2% of businesses in Malaysia are SMEs and they account for almost 47% of Malaysia’s GDP. Of the overall SME numbers, there are at least 350,000 sole proprietors in Malaysia. Yet, most banks offer the SMEs, especially the sole proprietors, only online Consumer Banking services; they do not provide a holistic solutions bundle that these businesses require to manage their company finances efficiently. Victor Khor, Head of Transaction and Alternate Banking for Alliance Bank talks about trends in online banking and Alliance BizSmart Online Banking service.