SME financing has been a problem around the world because banks are wary of lending to risky borrowers. But alternative lending is solving the issue slowly.
The study comes on the heels of Malaysia's 2020 budget report where the government outlined its initiative to stimulate e-wallets and e-payments systems in a bid to move to a cashless economy
But, with the rapid development and adoption of new technologies, all types of small-to-medium businesses now have the tools to connect with previously unreachable audiences
Embracing emerging tools like distributed ledger technology and layering it atop the core banking systems using APIs (application program interface) will allow banks to create a robust yet agile digital platform and disrupt their own business models, instead of sitting on the sidelines watching the challengers disintermediate them
Gone are days of waiting for months on end to hear back on loan applications, which only had a 50 percent chance, at best, of being approved - Robocash, a financial technology company that provides consumer lending and marketplace funding, claims it can process loans in up to 15 minutes.
Many stakeholders think the word 'corporate' implies that a venture capital firm lacks independence. This is a myth and couldn't be further from the truth
E-wallets may be offering the ease of mobile payments through store partnerships and rewards across Asia, but credit cards are turning to tech and digital to shift the odds in their favour