Maybank & TikTok Shop Signs MoU to Boost Digitalisation for SMEs in ASEAN
Malayan Banking Bhd (Maybank) and TikTok Shop Malaysia signed a memorandum of understanding (MoU) to launch the ASEAN SME Upskilling and Digitalisation Programme that aims to help SMEs adopt digital commerce and expand their businesses, with the pilot programme expected to commence in Malaysia next month.
“Through this programme, we hope to leverage the strengths of both Maybank and TikTok Shop to empower entrepreneurs across the region with the knowledge, insights, skills and tools needed to future-proof their businesses, regardless of their stage of growth.
“Participants will gain hands-on experience in adopting digital solutions, leveraging content-driven e-commerce and optimizing account management techniques, which are all crucial for long-term business growth,” said Maybank group chief executive officer of community financial services Syed Ahmad Taufik Albar.
Apart from noting that the programme will include webinars, workshops and a six-month accelerator plan, Syed Ahmad also mentioned that the first cohort in Malaysia will focus on women entrepreneurs, in line with Maybank’s HERpower initiative.
“Women-led SMEs make up 20% of all SMEs in Malaysia but they still continue to face barriers in accessing funding and expanding their businesses. Hence, the first Malaysian cohort of the accelerator plan will be reserved for women entrepreneurs,” he said, adding that Maybank targets to increase women-led SMEs form 20% to at least 25% by 2026.
Meanwhile, TikTok Shop Malaysia’s director of strategic partnerships Nur Azre Abdul Aziz commented that the platform takes quantitative measures and qualitative approaches by providing SMEs with increased traffic support and social media exposure.
“An example is an SME we supported that started at a night market, then it expanded online, established a physical store and was later featured by us at the ASEAN Investment Business Summit. So it is also about expanding their capability from local to global,” she explained.
