KUALA LUMPUR (Oct 9): CIMB Group Holdings Bhd has launched the CIMB OCTO Biz app, a new digital banking platform designed specifically for small and medium enterprises (SMEs), alongside the introduction of a revenue-based financing solution, SME FlexiCash/-i.
From left: CIMB Group Holdings Bhd co-CEO of group commercial and transaction banking Ahmad Shazli Kamarulzaman, group CEO and ED Novan Amirudin, Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz, CIMB group chairman Datuk Syed Zaid Albar, and co-CEO of group commercial and transaction banking Lawrence Loh.
The twin launches, announced at the ASEAN SME Economic Conference on Thursday, mark a major milestone in CIMB’s push to enhance digital banking accessibility and provide more flexible financing options for growing businesses.
According to CIMB, the OCTO Biz app integrates essential banking services with business management tools, offering SMEs a single digital hub for real-time cash flow monitoring, trade and foreign exchange (FX) services, and AI-powered financial insights. The app also supports cross-border transactions across ASEAN countries, enabling entrepreneurs to manage multi-market operations seamlessly.
Additional features include digital cash flow tracking and access to up to 18 months of transaction history, compared to the standard 12 months available on conventional banking channels.
CIMB group chief executive officer Novan Amirudin said the initiative underscores CIMB’s commitment to supporting business transformation and financial inclusion.
“We see banking as a strategic enabler of growth and transformation. Our focus is to equip businesses and communities with the tools and insights to thrive in a dynamic economy,” he said.
Meanwhile, the newly introduced SME FlexiCash/-i offers SMEs greater flexibility by linking loan repayments to a percentage of their monthly revenue, instead of fixed monthly instalments.
Lawrence Loh, CIMB’s co-chief executive officer of group commercial and transaction banking, said the revenue-based approach would benefit SMEs with variable or seasonal income.
“This gives customers flexibility compared to the traditional repayment model. It opens up access to financing for many micro and small businesses that might otherwise face challenges in securing credit,” he explained.
Eligible businesses with at least six months of banking history with CIMB can access pre-qualified financing directly via the app, with options to customise loan amounts and tenures before confirming the offer.
During the launch, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said such initiatives would empower local SMEs to enhance efficiency and competitiveness.
“We need SMEs to elevate their processes so they can integrate more seamlessly into global supply chains and strengthen their market presence,” he said.
CIMB revealed that more than half of its SME clients are already using OCTO Biz, with over seven million transactions worth RM17 billion recorded so far in 2025. The app’s full suite of features will be made available by the end of the year.
As part of its “Kita Bagi Jadi” campaign, CIMB aims to make online account opening fully digital for sole proprietors and SMEs by late 2025, eliminating the need for in-branch visits.
Following its rollout in Malaysia, CIMB plans to extend OCTO Biz to Indonesia and Singapore by mid-2026, before introducing it to other ASEAN markets.
The launch was officiated by Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick, together with CIMB group chairman Datuk Syed Zaid Albar.
