Business

Standard Chartered, MISA to provide financing to small businesses

Standard Chartered Bank has announced the launch of a strategic partnership with information technology company MISA JSC to offer unsecured invoice financing to small and medium-sized enterprises at competitive interest rates and straight-through processes.
Standard Chartered, MISA to provide financing to small businesses ảnh 1Representatives from Standard Chartered Bank and MISA at the launch of their digital financing for SMEs via the MISA Lending platform. (Photo courtesy of the bank)
Hanoi (VNS/VNA) - Standard Chartered Bank has announced thelaunch of a strategic partnership with information technology company MISAJSC to offer unsecured invoice financing to small andmedium-sized enterprises at competitive interest rates andstraight-through processes.

The first partnership of its kind combines MISA’s pioneering useof cloud-based technologies to simplify and improve the efficiency of theirclients’ processes and Standard Chartered’s global expertise in businessbanking and financing capabilities.

Speaking at the launching ceremony, Nguyen Xuan Hoang, vice chairmanof MISA, said: “The cooperation between MISA and Standard Chartered Bankwill provide much-needed funding to hundreds of thousands of underbanked SMEswithout collateral via MISA Lending.”

Harmander Mahal, head of the bank’sconsumer, private, and business banking for Vietnam andAsia, said: “We’re excited to be pioneers in this space that promises to have asignificant positive impact on SMEs in Vietnam. By providing SMEs with moreeffective access to financing solutions, we can accelerate broader financialinclusion and further contribute to the economy’s growth through this importantsegment.”

The programme’s target customers are SMEs in manufacturing,trading and services that require financing against e-invoices to meet theirworking capital requirements. 

Standard Chartered will use multiple data points and digitalunderwriting to set suitable credit limits. 

Standard Chartered has been named the “Best Retail Bank in Vietnam”and “Best Strategic Partnership” at the 2023 Asia Trailblazer Awards by RetailBanker International. 

MISA received the Outstanding ICT Company Award in 2018 from theAsian-Oceanian Computing Industry Organisation./.
VNA
#Standard Chartered Bank #strategic partnership #unsecured invoice financing #MISA JSC #small and medium-sized enterprises #interest rates #Vietnam #Vietnamplus #Vietnam News Agency
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