Public Bank Inks MoC With PRO-NET To Streamline & Personalise Purchasing Process

Public Bank Berhad and Proton New Energy Technology Sdn Bhd (PRO-NET) on 9 August 2023,  signed a Memorandum of Collaboration (MoC) to formalise their partnership with a partnership goal is to deliver comprehensive financial products and services while continuously pushing digitization through seamless integration with smart Malaysia and its approved dealers.

Public Bank would be able to facilitate digitalization through this partnership, allowing online hire purchase loan submission and Floor Stocking via the smart customer app. This novel approach is likely to increase Public Bank's market share in the electric vehicle (EV) business.

PRO-NET, the licensed authorised importer and distributor of smart vehicles in Malaysia and Thailand, has recently garnered much attention for its smart #1 at the Electric Vehicle Expo (EVx) 2023, creating a buzz among local enthusiasts and generating vibrant discussions on social media.

The MoC signing ceremony which took place at Menara Public Bank was attended by Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and CEO, Dato’ Chang Kat Kiam, Deputy CEO of Public Bank, En. Roslan bin Abdullah and Mr. Wang Huaibing, Board Members of PRO-NET, and Mr. Zhang Qiang, CEO of PRO-NET, alongside other senior management representatives.

Tan Sri Dato' Sri Dr. Tay Ah Lek emphasised the bank's commitment to promoting the growth of New Energy Vehicles (NEV) as an important part of their mission. Furthermore, he stated that by the end of 2022, Public Bank would have enabled over RM30 billion in domestic NEV financing, accounting for around 52% of their domestic Hire Purchase financing portfolio. As a sign of commitment, Public Bank plans to increase its NEV loan objective to RM33 billion by 2025.

Dr. Tay went on to say that the synergies between Public Bank and PRO-NET would not only help them advance their respective commercial goals, but would also fit with their common mission of combating climate change.

Meanwhile, Mr. Zhang Qiang emphasised how New Energy Vehicles (NEVs) are a radical departure from traditional products, with EV technology enhancing connectivity and catering to changing consumer needs.

He also stated that PRO-NET is committed to providing a seamless digital customer journey through collaborative eco-partnerships, such as a smart Malaysia customer app that provides online loan applications and real-time charging information to ensure transparency, improve efficiency, and expedite the customer experience.

En. Roslan bin Abdullah went on to say that it is their shared goal with Public Bank to streamline the purchasing process and create a more personalised, customer-focused digital experience.

This relationship is noteworthy because smart is the first EV brand to work with Public Bank, paving the door for altering the banking industry's digital landscape.