KUALA LUMPUR (April 26): RHB Banking Group has unveiled a smart interview virtual feature that allows small and medium enterprise (SME) customers to complete financing applications, which include interviews and site inspections virtually through their mobile devices. 

In a statement today, the banking group said the new feature — which forms part of RHB Financing (SME) mobile app — is the first in Malaysia and Southeast Asia and utilises facial recognition technology and various innovations to provide an alternative to physical interactions. 

“The latest version of the app has also been refreshed with additional features such as integrated MyKad checks and API data matching to enhance fraud detection and customer security. 

“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,” it said. 

RHB Banking Group head of group business and transaction banking Jeffrey Ng said the new smart interview feature simplified the application process by removing the need to conduct physical site visits to business premises as well as 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,” he said. 

Jeffrey added the RHB Financing (SME) mobile app complements the RHB SME Online Financing web portal, which is powered by artificial intelligence, machine learning and big data capabilities, in offering end-to-end innovative and versatile financial solutions for SMEs.

“The RHB SME Online Financing web portal and RHB Financing (SME) mobile app have benefited 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. 

“With these latest enhancements, we expect to further extend another RM500 million in financing to small local businesses this year,” Ng said.

RHB highlighted SMEs may apply for financing facilities of up to RM1 million through the RHB Financing (SME) mobile app, with payment tenor of between six and 84 months without the need for collateral.

Businesses are only required to submit six months’ bank statements as supporting documentation, which is to be uploaded through the system as part of the application process, the banking group said.

At the midday break today, RHB gained 0.38% or two sen to RM5.28, valuing it at RM21.17 billion.