CIMB Thailand opens deal with fintech providers


CIMB Bank in Thailand will host talks with ten fintech companies about the design of a trade-finance solution for SMEs in the Asia-Pacific market.

CIMB has officially opened a platform for fintech providers with business ideas to collaborate on ventures, with derived income to be shared. The trade-finance solution is catering specifically to small and medium-sized enterprises (SMEs) according to executive vice president, Phisit Sucharitsopit.

“Those 10 fintech businesses could be our partners, as each provider has expertise in a different area, and we can use those ideas to offer a total solution to our customers,” he said.

“The product derived from the partnership with local fintech providers is expected to be launched at the end of this year.”

The launch of the platform is set to help the bank expand its SME customer base and continue CIMB Group’s global work in the fintech space, including CIMB Malaysia’s partnership with the Startupbootcamp fintech accelerator program.