In the wake of the past few years, the way businesses interacted with their financial service providers and banks have changed. For instance, a 2021 survey by EY had discovered that 56% of small and medium enterprises (SMEs) had planned to change their business model in response to the pandemic, with 68% of SMEs looking to manage their business via digital channels where possible. The survey also noted that 53% of SMEs find it important that their banks deliver easy-to-use digital experiences.
The COVID-19 pandemic had only accelerated a trend that had begun well before that. According to a 2019 survey by US-based BAI, while a majority of business customers had visited a branch to open new accounts, nearly 70% of business owners would prefer to open a deposit account online, and almost 50% would prefer to apply for a loan online.
The top 4 improvements businesses at that time wanted to see most were an improved omnichannel experience, branch transformations for better in-person experiences with experts to help achieve financial goals, having the right tools and options to customise solutions, and gaining access to more useful real-time content to manage day-to-day banking.
This is where a corporate Internet banking platform like AFFINMAX from Affin Bank Berhad comes in. Designed for SMEs and corporate clients, the platform is highly secure and easy to use, providing one-stop access to the bank’s financial products and services, including cash management, trade finance, and SME and retail products.
Depending on the size and needs of the business, AFFINMAX customers may select to use either of the banking solutions that have been designed to help businesses go cashless. The award-winning AFFINWRKFZ (Affin Workforce) is a targeted and comprehensive business and talent management solution that helps businesses to future-proof themselves, offering planning tools, insurance/takaful packages, upskilling programmes, and exclusive lifestyle packages. The other solution, which is known as AFFIN360, is a robust payroll solution which covers business compensation and benefit plans for employees.
In addition to the above, the AFFINMAX platform also includes and integrates cash management solutions and systems to help businesses with managing trade, financial supply chain, and liquidity. This provides AFFINMAX customers with access to a wide range of banking solutions within the one platform when it comes to handling their daily business operations.
Meanwhile, the AFFINMAX mobile application has been designed to help the bank’s clients when it comes to performing their business transactions on-the-go in a more efficient and timely manner, reaffirming the bank’s commitment in offering a new digital banking experience to all customers in accordance to its tagline “Always About You”. The mobile application allows clients to have full control and management of their business’ finances in a holistic manner.
Source: https://www.businesstoday.com.my/2023/06/30/affinmax-the-only-business-banking-solution-you-may-ever-need/