Xero and RHB Bank Partner to Empower Malaysian SMEs with Seamless Financial Data Access

Strategic Insights -

Xero, a global small business platform, and RHB Banking Group, a leading bank in Malaysia, have partnered to provide Malaysian small and medium enterprises (SMEs) with seamless daily access to financial data through a fully digital API-enabled bank feed. This integration enables SMEs to automatically import data from their RHB bank accounts into Xero each day, reducing manual uploads and data entry, and lowering the risk of errors. The partnership aims to empower SMEs with the confidence and insights to grow, create jobs, and strengthen Malaysia's economy.

Key Takeaways:

  • The partnership between Xero and RHB Bank will provide Malaysian SMEs with seamless daily access to financial data through a fully digital API-enabled bank feed.
  • The integration will enable SMEs to automatically import data from their RHB bank accounts into Xero each day, reducing manual uploads and data entry, and lowering the risk of errors.
  • The partnership aims to empower SMEs with the confidence and insights to grow, create jobs, and strengthen Malaysia's economy.
  • Xero's Managing Director, Koren Wines, stated that the partnership is a significant step forward for Xero in Malaysia and reflects the company's commitment to supporting the country's small businesses.
  • RHB Bank's Managing Director, Nurjesmi Mohd Nashir, emphasized the bank's commitment to supporting the growth of SME customers through a connected ecosystem of simple, seamless banking experiences.
  • The Xero-RHB Bank feed is currently in beta testing and will be available to all Malaysian Xero users with an RHB bank account in August 2025 at no additional cost.
  • The partnership aims to help drive the digitalisation of Malaysian SMEs and build an ecosystem where they can thrive.

Statistics:

  • 70% of Malaysian SMEs have reported increased productivity and efficiency since adopting automatic bank feeds (Source: Xero)
  • Malaysian SMEs who adopt automatic bank feeds experience a 25% reduction in errors and a 15% reduction in data entry time (Source: Xero)
  • 80% of Malaysian SMEs believe that having a clear view of their finances is essential for making informed decisions (Source: RHB Bank)

Sources:

  • RHB Banking Group
  • Xero
  • Contify.com