OCBC Malaysia has been named Best SME Bank by Alpha Southeast Asia, and Best Commercial Bank for SMEs by Finance Asia, the latter for a second consecutive year.

The accolades recognise the Bank for its innovative offerings and digital enhancements specifically designed for SMEs to help them run their businesses more efficiently.

According to OCBC Malaysia Managing Director & Head of Emerging Business Mr Chan Kok Leong, the Bank maintains a strong focus on digital innovation and optimal convenience for its SME customers.

“We are pleased to be recognised by two leading global publications for our efforts to help SMEs grow. These awards also reflect our customers' confidence in our innovative business banking solutions and commitment in supporting them both in their domestic and international endeavours. With our customer-centricity approach, we look forward to providing even more cutting-edge solutions to help our SME customers flourish,” he said.

The Bank pioneered a robust digital onboarding process, enabling its customers to experience a faster turnaround time and operate seamlessly in a digital environment. With a focus on delivering convenience to SMEs, it designed a straight-through processing system to achieve a high level of convenience that resulted in a remarkable 90% increase in digital account openings.

“The awards will spur us to continue enabling our SME customers to realise their aspirations through digital offerings and access to financing,” Mr Chan added.

Among the noteworthy initiatives of the Bank in gaining the awards were its support of over 100 China-based enterprises operating in Malaysia’s Food and Beverage sector last year. The Bank also provided SMEs with tailored banking solutions that integrated cash management with foreign exchange services, enabling them to streamline their financial operations and focus on growth.

The Bank’s collections platform, OCBC OneCollect, saw a significant increase in applications as businesses sought convenient and secure solutions for cross-border transactions. The platform offers a unique feature that allows customers to make payments in Singapore Dollar (SGD) equivalents via their Singapore banking apps, while merchants receive payments in Malaysian Ringgit (MYR). This helps to streamline end-of-day reconciliation for those handling high volumes of low-value transactions. With a simple app download and digital onboarding process, OCBC OneCollect provides SMEs with a seamless, secure, and efficient collections experience.

OCBC Malaysia comprises OCBC Bank (Malaysia) Berhad and OCBC Al-Amin Bank Berhad.