PETALING JAYA: The Malaysia Digital Economy Corporation (MDEC) has partnered with seven financial institutions to widen financing access for small and medium enterprises (SMEs) through an artificial intelligence (AI)-enabled digital platform that uses e-Invoice data to strengthen credit assessments.
The initiative, known as the National E-Invoice Financing Exchange (NEFX), aims to address financing challenges faced by SMEs, particularly businesses with limited credit histories, insufficient collateral or inadequate financial records.
MDEC said the platform would leverage authenticated e-Invoice data exchanged through the Peppol network, alongside other relevant business information shared with SMEs’ consent, to provide financing institutions with greater visibility into business transactions.
