Traditional banks risk losing SME business as open finance takes hold
Photo: New Straits Times
KUALA LUMPUR: Malaysian banks risk losing a significant share of their small and medium enterprise (SME) business to financial technology (fintech) firms and challenger banks as open finance reshapes the financial landscape, a banking expert said.
From the original report
Manaf Gardner Associates co-founder and chief executive officer Colyn Gardner said the experience in the United Kingdom (UK) showed how quickly non-traditional financial providers could gain ground in areas long dominated by established banks.
He said Malaysian banks should take heed, given the country's large SME sector.
…
This is a brief of a report by another newsroom. The excerpt below is from the original.
Read the full report at New Straits Times
New Straits Times
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About this story
- Source
- New Straits Times
- Originally published
- Sep 20, 2026
- Updated here
- Sep 21, 2026
- Produced by
- Malaysia Times desk (brief) — reporting by the source
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