HSBC Bank Malaysia Berhad launched HSBC Fusion, a new financial proposition which caters to the needs of small business customers with more clarity into their finances, helping them same time and get ahead with easy access to funding, advice and opportunities.
Tara Latini, Head of Retail Banking and Wealth Management, HSBC Malaysia, says “Malaysia’s small and medium enterprises (SMEs), comprising 98.5 percent of the country’s business community, contribute more than one-third to our economy. They are a key growth engine and HSBC is committed to provide best-in-class financial services to help these business owners succeed.”
“After all, small businesses are not small versions of big businesses. They have distinctive needs, and their owners’ lives are often blended with their business. With an established Retail Banking and Wealth Management franchise, connected to an unparalleled international footprint and a full range of banking capabilities, and a solid commitment to invest here in the long term, HSBC has a unique advantage to support this important segment in Malaysia,” she adds.
HSBC Fusion customers receive the support of a dedicated Relationship Manager to attend to their business and personal banking needs helping them make better decisions. Additionally, they have access to a highly trained Contact Centre team who can help them with both their personal and business needs. The customers can apply for funding as well as take advantage of a single Internet banking platform providing views of their business and personal accounts.
Satyam Agrawal, Regional Head, Retail Business Banking, HSBC Asia-Pacific, says “In the Asia-Pacific region, SMEs comprise 98 percent of enterprises and employ almost half of the workforce. But the reality is most banks do not have a proposition that caters to the unique needs of a SME. As per research, over 79 percent of SMEs are either under or unserved in emerging markets today.”
“At HSBC, we understand that small business owners require much more than just a bank. They need a financial partner who recognises their particular needs and is able to stand with them throughout their journey as a business entrepreneur as well as an individual with increasing aspirations for themselves and their families. HSBC Fusion understands the goals, challenges and everything in-between of a small business owner and we will continue to help them lead fuller lives.”
Fusion also provides customers with a business package, which includes a number of digital banking tools such as HSBCnet online banking portal, essential business solutions related to lending, accounting and merchant payments, as well as employee benefits under HSBC’s payroll service Perks@Work. As their business grows, they can benefit from better rates, access to value-added services and insights, new opportunities to grow, as well as exclusive privileges.
HSBC has successfully introduced Fusion in six other markets globally such as USA, Mexico, Argentina, France, Malta and China.