The new platform, referred to as Mesinkira, is designed to support the growth of digitalisation of MSMEs.

It offers MSMEs a point-of-sale software that includes inventory management, payment and accounting, and reporting services, CIMB said in a statement to the media today.

It said businesses from a wide range of industries could use the suite of digital empowerment tools in key operations areas to accelerate growth.

“One of Mesinkira’s key solutions is its integrated in-house financial analysis and reporting function which adheres to regulatory compliance and enables precise data management while maintaining accounting best practices,” it added in the statement.

An agreement for the collaboration was signed by the two parties today.

CEO of group commercial banking at CIMB Group Victor Lee said the digital-first and cost-efficient solution would enable MSMEs to leverage business opportunities in the e-commerce space.

ModulEight Technologies CEO Syed Omar Abu Bakar Almohdzar said Mesinkira would help MSMEs grow and digitalise their operations to boost their net income and creditworthiness.