Alliance Bank Malaysia is expecting severe competition in the SME space from the new digital banks that have been recently granted licenses by Bank Negara Malaysia (BNM). SMEs are one of the key businesses that have been contributing significantly to the financial performance of Alliance Bank. To counter the emerging competition, the Kuala Lumpur-headquartered bank will be making use of various channels and strategies – both digital and physical – to tap into more SME customers. For instance, it plans to provide deserving clients in the SME space the convenience of availing unsecured loans of up to RM500,000 based on their performance over six months.
