Digital Penang and Alliance Bank to empower SMEs

Digital Penang and Alliance Bank Malaysia Berhad have joined forces to empower Penang’s small and medium-sized enterprises (SMEs) and startups through a strategic collaboration.

This Memorandum of Understanding (MoU) signifies a significant step towards bolstering Penang’s digital economy and fostering a thriving business ecosystem.

Enhancing financial literacy and access to resources

The MoU underscores a shared commitment to elevating financial literacy among local businesses.

“Through this partnership, we aim to equip SMEs and startups with essential banking solutions tailored to accelerate their growth,” states Ng Kwang Ming, CEO of Digital Penang.

This aligns perfectly with the Penang2030 vision of fostering competitive and resilient local enterprises.

The collaboration will provide local businesses with comprehensive support and guidance regarding banking facilities and services.

“We are firmly committed to nurturing new enterprises in Penang,” emphasises Ng.

“This MoU will streamline access to customised business banking solutions for our extensive network of SMEs, startups, and business associates,” he adds.

Digital Penang equipping businesses for success

Digital Penang and Alliance Bank will co-host specialised programs designed to empower SMEs and startups with the financial knowledge they need to thrive in the digital landscape.

“These holistic programs will equip Penang enterprises with the skills to capitalise on opportunities within the digital economy,” explains Ng.

Alliance Bank is committed to providing local businesses with the expert guidance and advisory services they need to navigate crucial banking facilities.

“We will organise seminars and workshops focused on expediting the business loan application process,” states Raymond Chui, Group Chief SME, Commercial and Transaction Banking Officer at Alliance Bank.

“These initiatives will address common hurdles encountered by business owners, ensuring a smoother path to growth.”

Penang Chief Minister Chow Kon Yeow, who also serves as Chairman of Digital Penang, highlights the significance of this collaboration.

“This MoU signifies a key milestone in our joint dedication to Penang’s economic development,” he remarks.

“Both organisations are committed to leveraging their expertise to empower local businesses and cultivate an ecosystem brimming with innovation and prosperity.”

This partnership strengthens Penang’s position as a leading centre for digital and economic advancement.

By providing ongoing support and guidance to local SMEs, Digital Penang and Alliance Bank are paving the way for a sustainable and prosperous future for Penang’s businesses.

Source: Buletin Mutiara