Traditional banks in Malaysia at risk of losing SME business in 2022 to new avenues

KUALA LUMPUR (April 26): Nearly three in five Malaysian small and medium enterprises (SMEs) could ditch traditional banks in 2022 and take up new or alternative borrowing products, said California-headquartered data analytics firm Fair, Isaac and Company (FICO).

In a statement on Tuesday (April 26), FICO said there are early signs that traditional banks in Malaysia are at risk of losing…