Bank Rakyat, Alibaba, Lenovo team up to drive MSME digital growth
KUALA LUMPUR: Bank Rakyat is stepping up its digital transformation and efforts to help Malaysian micro, small and medium enterprises (MSMEs) expand overseas through strategic engagements with Alibaba and Lenovo in China.
Bank Rakyat, in collaboration with Alibaba and Lenovo, is aiming to boost digital growth for Malaysian micro, small and medium enterprises (MSMEs) by expanding their digital capabilities and opening new avenues for cross-border e-commerce. These strategic engagements during a mission to Shanghai involved high-level officials such as Prime Minister Datuk Seri Anwar Ibrahim and the Minister of Trade and Industry, Johari Abdul Ghani.
The bank's chairman, Datuk Mohd Irwan Mohd Mubarak, emphasized that the partnership would leverage global technology and the bank's market expertise to develop solutions that improve customer experience, efficiency, and business opportunities. Through its engagement with Alibaba Cloud, Bank Rakyat plans to harness cloud computing, AI, data analytics, and other digital technologies to enhance the competitiveness of MSMEs.
This includes providing access to Alibaba's e-commerce platforms, helping these businesses reach a wider international customer base. Lenovo will join Bank Rakyat's Fintech Community Hub as an ecosystem partner, focusing on identifying fintech companies and technologies for potential collaboration in the bank's accelerator programme.
This initiative aims to expand digital transformation beyond banking, creating a stronger ecosystem that empowers Malaysian MSMEs to scale and participate more effectively in the global economy.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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