KUALA LUMPUR, October 26 – In a significant step towards empowering local SMEs for growth and success, AmBank has introduced AmBank SME Amplify, a comprehensive suite of financing and digital solutions tailored to meet the unique needs of SMEs. Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer of AmBank Group, emphasized the importance of SMEs in the economy, stating, With SMEs as the backbone of the economy, we will continue to expand and invest heavily in this segment by reimagining how micro, small, and medium enterprises could be better served in the markets.
We stand by our community, implementing comprehensive initiatives and financing options, tailored to fuel their growth and bolster their competitive edge. AmBank SME Amplify addresses the pain points that SMEs face by providing easier access to financing. AmBank SME Amplify offers a range of innovative solutions to address these challenges. Business owners gain access to working capital loans with no lock-in period and collateral-free financing of up to RM2 million, providing the flexibility to pursue growth ambitions without traditional constraints. The suite also includes an interest-bearing Business Current Account offering attractive returns on deposited funds, conveniently managed through AmAccess Biz.
Additionally, customers can enjoy unlimited cashback on business expenses with an AmBank Visa Infinite Business Card, which comes with no annual fees and up to 58 days of interest-free repayment. AmBank is further committed to providing government-assisted financing facilities in collaboration with Bank Negara, Credit Guarantee Corporation Malaysia Berhad (CGC), and Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) across all economic sectors to empower SME customers and maximize their potential.
AmBank SME Amplify also includes a Merchant Business Solution with same-day settlement, allowing SMEs to accept all cashless transactions from various digital payment methods, including DuitNow QR, for online and retail transactions via terminals, mPOS, and QR codes. The Pay-As-You-Grow (PayG) feature, Malaysia’s first Term Loan linked to Point of Sale (POS) transactions and deposit accounts, offers SMEs faster and more accessible access to upfront cash for business needs. The official launch of AmBank SME Amplify occurred during KLFW Fashion Connect Point 23, a symposium for local fashion designers, entrepreneurs, and retailers, held at the InterContinental Kuala Lumpur.
This event provides a platform for industry experts to discuss the latest trends and challenges facing entrepreneurs today, with topics including Sustainability in Fashion, Understanding Inflation & Supply Chain Security, and Employing Disruptive Strategy through Digital Transformation & Immersive Customer Experiences. Aaron Loo, Managing Director of Retail Banking at AmBank, highlighted the bank’s commitment to supporting the fashion industry’s entire value chain, from textiles and manufacturing to retailing and design. Loo emphasized that beyond financing, AmBank aims to share information and knowledge that will assist these businesses in a competitive environment.
KLFW Fashion Connect Point 23, now in its second year, brings together established and emerging entrepreneurs in the retail and SME sectors, including merchants, traders, and innovators from the apparel and textiles industries. The event features presentations and panel discussions led by SME leaders and subject matter experts, fostering education, networking, and progress within the fashion industry’s supply chain to create a sustainable and progressive ecosystem.
