Online banking for SMEs

Source from (The Malay Mail): http://www.mmail.com.my/story/online-banking-smes-33158

Published: October 12, 2012

TO HELP small business owners gain more control over their company’s payroll and banking accounts, Alliance Bank Malaysia Bhd has rolled out the “Alliance BizSmart” online banking facility for small and medium enterprises (SMEs).

“We are now the first local bank to offer specialised banking tools to SMEs, enabling them to do less banking and focus on accelerating their business,” Alliance Bank Group chief executive officer Sng Seow Wah said in a statement.

Small business owners often struggle especially where mundane but necessary administrative functions are concerned, he said.

Currently, most local banks treat sole proprietors as consumers, he explained, that allows access only to consumer online banking that lacks advanced cash management tools essential for business.

The new service not only is protected by world-class security features, it also gives the same advanced online banking facilities used by large corporates, Sng said.

The security features via IdentityGuard, is one of the most versatile authentication platforms in the market by Entrust Inc — whose solution is used by the likes of the US Department of State, the National Aeronautics and Space Administration and the UK Ministry of Defence.