BIBD online banking system for SMEs

National 1 minute, 16 seconds

BANDAR SERI BEGAWAN

BANK Islam Brunei Darussalam (BIBD), the country’s flagship Islamic financial institution, plans to develop an online banking system for local small and medium enterprises (SMEs) by the end of the year.

BIBD Chief Operating Officer Gyorgy Tamas Ladics said the bank is designing a new system that will ease online banking transactions for SMEs.

“BIBD is coming up with an enhanced online service, for corporates irrespective of their company sizes, which will provide them (SMEs) with various functions from account management, bank statements, to fund transfers and how to link their e-commerce and website to their merchant accounts,” he said.

The bank wants to introduce a more flexible online banking system for the corporate segment, he told The Brunei Times on the sidelines of Darussalam Enterprise dialogue session with SMEs.

He said BIBD is enhancing its system so that it can cater to devices such as mobile phones and tablets.

“We are still at the planning stage... I am hopeful we can deliver something at the end of this year to benefit our customers,” Ladics said.

The system, he added, will encourage SMEs to go digital to market their products.

He said the new system will ultimately help local SMEs “expand their businesses and enjoy a competitive market”.

Ladics said the new online banking system will also help SMEs on business transactions, purchase volumes and business operation.

“These are our direction and thinking this year. We want to see and bring up corporates online to customers’ attention,” he said.

The Brunei Times