Malaysian lender Malayan Banking Bhd (Maybank) has announced the first multi-market small and medium enterprises (SME) upskilling and digitalization collaboration between a financial institution and TikTok Shop in the ASEAN region.

This program is designed to equip SMEs with the knowledge, insights, skills, and tools to go beyond brick-and-mortar models and ultimately scale and future-proof their businesses, the bank said in a statement on Thursday.

Syed Ahmad Taufik Albar, Group Chief Executive Officer, Community Financial Services, Maybank, said that this collaboration is a reflection of Maybank’s commitment to champion SMEs in line with its M25+ strategy of purpose driven banking and beyond banking social impact programs.

According to him, participants in this program will gain valuable first-hand experience in leveraging content-driven e-commerce, digitalization solutions, and optimized account management techniques.

He believes entrepreneurs have the potential to create sustainable and lasting ripple effects to the communities they serve.

“By providing a holistic, values-driven ecosystem of solutions beyond traditional banking services, we hope to support and future-proof businesses at every stage of growth to be their own agents of change,

“We also aspire to collaborate with industry leaders who share a similar vision, and together create a multiplier effect in uplifting entrepreneurs in the region,” he added.

The ASEAN SME Upskilling & Digitalization Program will start with a pilot phase in Malaysia, covering three main activities: a webinar, workshop, and an accelerator plan.

Participants in the accelerator program will gain access to dedicated mentoring and coaching from both TikTok Shop and Maybank over six months, with personalized targets for each participant.

In addition, the first cohort of workshop and accelerator program participants will focus on women entrepreneurs, in continuation of Maybank’s HERpower initiatives.

Select ASEAN markets are expected to launch similar programs customized to each local market over the next 12 months.

Steven Li, Senior Director of Global E-commerce Strategy, TikTok Shop, also shared his enthusiasm about the collaboration.

“We are delighted to collaborate with Maybank to accelerate the growth of SMEs in Southeast Asia,

“It is a meaningful program that showcases how collaborative industry efforts can drive real-life impact for small businesses in the region’s rapidly growing digital economy,” he said.

Nur Azre Abdul Aziz, Director of Strategic Partnerships, TikTok Shop Malaysia, also said she is thrilled to pilot this program in Malaysia, which aims to empower women entrepreneurs with the resources and knowledge to thrive on TikTok Shop, in line with the nation’s effort to promote inclusive economic growth.

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