26 Apr - 3 min read
RHB Bank has rolled out its new Smart Interview feature, a virtual function that allows small and medium enterprise (SME) customers to complete their financing applications more conveniently. Believed to be the first such feature to be introduced in the Southeast Asian region, the feature also enables the ability to conduct interviews and site inspections virtually through customers’ mobile devices.
The Smart Interview feature is parked within the latest version of the RHB Financing (SME) mobile app. It utilises facial recognition technology and other technological innovations embedded within the app to carry out its functions.
Aside from the Smart Interview feature, the latest version of the RHB Financing (SME) app also comes with other upgrades to enhance fraud detection and customer security. These include integrated MyKad checks and application programming interface (API) data matching. “Through this digital platform, customers are able to submit and undertake all actions required to complete their applications online, which includes the uploading of supporting documents. Status of application is made available in real time via the mobile app,” said the bank.
The head of group business and transaction banking for RHB, Jeffrey Ng also chimed in to highlight some of the perks of these updates for the app. In particular, he said that the Smart Interview feature addresses customers’ shifting preference towards remote loan and financing applications in light of Covid-19.
“The application process is simplified by removing the need to conduct physical site visits to business premises as well as in minimising the amount of supporting documentation required. As such, we are able to provide business owners a more convenient, secure, and seamless experience for them to submit and complete their applications from the comfort and safety of their own offices,” Jeffrey said.
Jeffrey further stated that the RHB Financing (SME) mobile app is meant to complement the RHB SME Online Financing web portal in a bid to offer end-to-end innovative and versatile financial solutions for SMEs. To this end, the web portal is also powered by artificial intelligence, machine learning, and big data capabilities.
“The RHB SME Online Financing web portal and RHB Financing (SME) mobile app have benefitted more than 2,000 SMEs, with total financing of approximately RM500 million being approved in support of small businesses in Malaysia up to March 2021. As part of our wider RHB SME ecosystem, both the web portal and mobile app have attracted much interest from SME owners, where we have seen an overall increase of more than double in terms of application value over the past year,” explained Jeffrey, adding that the bank expects to extend another RM500 million in financing to small local businesses in 2021 with these latest enhancements.
The RHB Financing (SME) mobile app allows SMEs to apply for financing facilities of up to RM1 million, with a payment tenure of between 6 to 84 months without the need for collateral. SME customers are only required to submit six months’ worth of bank statements as supporting documentation – which can be uploaded through the system.
You can find out more about the Smart Interview feature and the latest RHB Financing (SME) mobile app on the bank’s website.
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