Empowering more than 43 million women-centric SMEs in Southeast Asia with tailored and scalable solutions.
Maybank recently launched its latest initiative, HERpower, under the overarching myimpact SME theme in efforts to increase its SME portfolio led by women entrepreneurs from 20% to 25% by 2026. The initiative is aimed to support over 43 million women-led SMEs in the region namely Malaysia, Singapore, Indonesia, Philippines and Cambodia.
HERpower offers a range of benefits for women entrepreneurs including increased collateral-free digital financing limit of up to RM1.0 million with conditional instant approvals for amounts up to RM500,000 for all new and existing customers. In addition, applicants are also eligible to a complimentary first-year premium for Persona Lady insurance/takaful coverage, attend upskilling workshops and women wellness programmes hosted throughout the year. Meanwhile, similar offerings are also available in the other regions of ASEAN where HERpower is introduced.
Syed Ahmad Taufik Albar, Group CEO of Maybank Community Financial Services said that Maybank wants to further reaffirm its commitment in driving regional economic growth and social impact of the communities, with a particular focus on empowering women entrepreneurs across Southeast Asia. HERpower represents the next evolution of Maybank myimpact SME commitment to empower women entrepreneurs by providing comprehensive financing assistance, scalable support including financial literacy, expert guidance and networking opportunities, as well as women wellness programmes to help women-led businesses thrive in the region.
Maybank also introduced three SME bundle offerings which are the SME Lite, SME Up and SME Top to cater for businesses of various sizes. These SME bundles will provide expedition in terms of account opening to business support such as payroll, accounting, payment and collection tools facilities. Businesses can expect to receive complimentary POS terminals at lower merchant discount rates, free halal certification facilitation, and a 6 months complimentary accounting solutions with accounts auto reconciliation features and e-invoicing.
Maybank Malaysia launched HERpower in conjunction with the Global Women Entrepreneurship Day on 19 November 2024, by hosting a networking and sharing session by women business leaders Nurul Zulkifli of Mimpikita, Esther Low of Dai Ga Jay and Summer Phang of Financio, with other aspiring women entrepreneurs in attendance.
From L-R: Nurul Zulkifli, Founder/Designer – Mimpikita; Esther Low, Founder – Dai Ga Jay; Summer Phang, Country Manager – Financio and Hazlinda Abdul Hamid – Deputy Head, Commercial Banking/Head, SME Banking, Maybank
Taufik Albar said, “Being the bank of choice for more than 70% of SMEs in Malaysia, nearly 90% of SMEs in Singapore and strong traction in other markets, Maybank understands the entrepreneur’s journey that is driven by passion, innovation and creativity; and that businesses go through challenges in their journey to scale-up and achieve success. We want to help our customers prepare ahead and navigate towards the future of their success, one SME at a time. Maybank through its myimpact initiative, caters holistically to business at every lifecycle with a comprehensive suite of financial and non-financial solutions. Our commitment to financial inclusivity and sustainable impact sets us apart, aligning with our long-term aspiration of Humanising Financial Services.”
For more information about HERpower and Maybank myimpact SME, please go to: www.maybank.my/herpower