Group Chief Business Development Officer of Alliance Bank, Foziakhatoon Amanulla Khan (from left) with Chief Executive Officer of Bursa Malaysia, Datuk Muhamad Umar Swift; Group Chief Executive Officer of Alliance Bank, Joel Kornreich and Senior Executive Vice President Business Analytics & Information Services of Bursa Malaysia, Wong Chiun Chiek at the signing ceremony on the strategic collaboration between Alliance Bank and Bursa Malaysia.
KUALA LUMPUR 8 Feb. - Alliance Bank Malaysia Berhad has signed a strategic agreement with Bursa Malaysia Berhad to use data analytics to help small and medium-sized enterprises (SME) enhance their business resilience.
To do so, the bank will leverage Bursa Malaysia’s enhanced datasets and analytics capabilities to understand the companies’ financial and non-financial needs.
Group Chief Executive Officer of Alliance Bank, Joel Kornreich said, businesses are still struggling to cope with the frequent disruptions to their business after 1 year into the pandemic.
"Right now, they need practical solutions that will help their business stay resilient against the frequent disruptions.
"We are fortunate to be able to partner with Bursa Malaysia, who provides us with relevant data to help us fine-tune our business solutions for companies," said him in a statement today.
This partnership serves as part of Bursa Malaysia’s strategy to expand its data business to suit a wider group of stakeholders beyond traditional capital market products.
The data arm of the exchange called Bursa Malaysia Information currently provides market data, index and informational services to capital market stakeholders.
In the last 6 months, the Alliance Bank and Bursa Malaysia have completed 2 Proof-Of-Concept (POC) exercises using the recently launched DIBots Analytics platform and successfully tailored solutions for 20% more new customers during this period.
Meanwhile, Chief Executive Officer of Bursa Malaysia, Datuk Muhamad Umar Swift said, the collaboration with Alliance Bank provides Bursa Malaysia with the opportunity to serve a broader class of customers leveraging on the exchange’s expertise while harnessing the power of data.
"The success of the two POCs underscores our ability to develop and offer data solutions to assist SMEs in this challenging environment,” he said.
Small-to-mid cap companies that have begun their digitization and sustainability journey, and enrolled in the Malaysia Investor Relations Association (MIRA) Sustainability Accelerator Programme (TSA), will also benefit significantly from the Alliance Bank-Bursa partnership.
Based on their TSA standing and FTSE4Good Bursa Malaysia ESG rating, businesses can enjoy better savings and financing rates, as well as discounted digital solutions and offers from Alliance Bank’s BizSmart® Solution partners. - DagangNews.com
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