Funding Societies Launches Referral Scheme for MUFG Malaysia’s Corporate Clients
by Fintech News Malaysia November 17, 2021Southeast Asian SME digital financing platform Funding Societies has partnered with MUFG Bank Malaysia, a subsidiary of Mitsubishi UFJ Financial Group to launch a Referral Scheme Programme exclusively for the bank’s corporate clients in the country.
The collaboration aims to propagate the economic recovery of the country through the referral scheme programme by leveraging the digital financing solutions to empower small and medium enterprises (SMEs).
Amongst the notable key features of the Referral Scheme includes extended credit terms for SME buyers and accelerated payment for MUFG’s corporate clients.
Additionally, credit will be made available to SMEs to fund and purchase their goods and services from MUFG’s corporate clients, extending their ability to purchase at a higher volume and improving their margins.
This collaboration builds upon Funding Societies’ proprietary digital Supply Chain Financing platform, ‘Silk Road’, which offers fast turnaround time and hassle free online experience to the SMEs in Malaysia.
Wong Kah Meng
“As one of the pioneers of digital financing in the Southeast Asia region, Funding Societies remains committed to supporting SMEs’ business growth and expanding their footprint locally and globally by providing them tailor-made financing solutions to achieve their business goals.
Through this referral scheme programme, Funding Societies is able to provide financing access to SMEs to support their post-pandemic recovery.”
explained Wong Kah Meng, Co-founder and CEO of Funding Societies Malaysia.
