RHB Bank, which offers Islamic products, together with RAMCI, has collaborated with iMoney to introduce a digital loan application platform. the platform would be the first in Malaysia allowing Malaysians to apply for financing while providing the ability to check their credit score.
The bank earlier also launched an online SME financing platform, RHB SME Financing, targeted at Malaysia’s SMEs. The bank, which offers Islamic products, hopes to drive the growth of its SME business to contribute 20% of the bank’s domestic financing by 2020; RM100 million (US$24.43 million) in SME financing is expected to be approved via this digital platform over the course of 12 months.