13th June 2025 - 2 min read
Hong Leong Bank (HLB) has signed a memorandum of understanding with DCAP Digital to improve SME lending through artificial intelligence, targeting underbanked communities and expanding access to financing.
The bank said the partnership will use DCAP Digital’s AI-powered credit scoring engine to carry out more inclusive and accurate credit assessments, particularly in sectors like motorcycle financing, which has seen steady demand.
More than 61,000 motorcycles were registered in May 2025 alone, but many in the underbanked segment still struggle to get financing due to limited credit history and time-consuming documentation processes.
Founded in 2020, DCAP Digital offers Lending-as-a-Service (LaaS) technology that supports capital deployment to pre-vetted borrowers. The company also provides digital tools that help ensure compliance, transparency, and efficiency in credit evaluations.
“This represents a big step forward for HLB in terms of enhancing our lending services, as we continuously look to streamline our financing processes to better serve our dynamic pool of business customers,” said Woon Siew Hoong, HLB’s head of SME banking.
“Aligned with our brand promise of being Built Around You, we are committed to maintaining a comprehensive suite of banking solutions that are designed to suit our customers’ diverse needs, while ensuring the solutions are deployed in an efficient and seamless manner.
“Our partnership with DCAP Digital is a major milestone in this journey, where we combine AI integration, digital innovation, extensive market penetration, and tailored financing solutions to provide a truly enhanced customer experience.”
Under the deal, HLB will focus on supporting motorcycle dealers, helping them access the bank’s Dealer Hire Purchase Programme and related financial services. The bank also plans to extend financing options such as cash management, bank acceptance, and trade lines through DCAP Digital’s platform.
DCAP Digital co-founder and CEO Sonia Ng said the company is excited to work with HLB to promote greater financial inclusion using AI.
“This collaboration merges HLB’s financial strength with our technology-driven approach, promoting seamless experiences, smart SME transformation and sustainable growth across the motorcycle ecosystem,” she said.
The two firms will also hold joint promotional campaigns, workshops, and training sessions for dealers to improve awareness and application practices across the sector.
(Source: Hong Leong Bank)
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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