MBSB Bank earns two wins at Malaysia Technology Excellence Awards 2025

The bank was recognised for its Virtual Account (VA) system and Online Business Current Account (OBCA).

Running a business can be exhilarating but ask any small or medium-sized enterprise (SME) owner about one of their biggest headaches, and you’ll likely hear a familiar story: financial reconciliation. Whether it’s a food and beverage chain, a retail shop, a fashion boutique, a bookstore, a bakery, or even an optometry practice, the challenge remains the same: figuring out where the money comes from and where it’s going when you’ve got multiple branches and multiple payment methods. 

Conquering the chaos of multi-branch transactions 

Picture this: You’re an SME owner with three cafés scattered across the city. Every single day, transactions pour in from Grab deliveries, Visa payments, e-wallets, online transfers, and even the occasional good old-fashioned cash purchase. You’ve got an accounting team (maybe it’s just one or two people) sitting in the back office manually “eyeballing” spreadsheets, receipts, bank statements, and sales logs. It’s tedious, it’s prone to error, and it can feel like an endless game of hide-and-seek to match every payment to the right branch. 

Worse still, there’s no real-time view of what’s happening financially. If something doesn’t add up—like a payment that’s missing or a shortfall in daily sales—it can go unnoticed until it becomes a big issue. Leakage or fraud might only be spotted weeks later, if at all. 

One platform, many branches: Simplify and centralise 

MBSB Bank set out to solve these exact challenges by offering a smart, automated way to consolidate multiple branch accounts into one system. This streamlined platform gathers incoming transactions—whether they come from five branches or fifty—into a single view. That means teams no longer need to manually reconcile each payment. Every transaction from each branch is automatically recorded, tagged, and updated in real time. 

Need to pinpoint which branch had higher sales today? Curious about which payment method is most popular? Now, all it takes is a few clicks. This solution not only reduces administrative burdens but also gives you instant clarity on where your money is, so you can spot any discrepancies quickly and safeguard your bottom line.

Automated sweeping and instant updates 

A highlight of this system is the automated “sweeping” function, which can transfer the day’s collections into a central account by day’s end. Since every transaction is tagged, identifying and tracking funds is straightforward—allowing business owners to focus on strategic decisions rather than manual clerical work. 

By delivering up-to-date financial information at any moment, businesses can also plan spending or investments more efficiently, ensuring that every ringgit is used wisely, and any suspicious gaps can be investigated right away. 

OBCA: A game-changer for new and growing SMEs 

MBSB Bank didn’t stop at making daily reconciliation a breeze. They also tackled another hassle that SMEs often face when opening a business account. Traditionally, opening a business account involves a lot of paperwork, multiple visits to the bank, and sometimes weeks of waiting before you can even start transacting. 

MBSB Bank’s Online Business Current Account (OBCA)—launched in 2024—tosses the paper forms out the window and moves the entire process online. As an SME owner, you can open and manage your business account from anywhere. Digital document uploads, automated status updates, and real-time e-KYC (electronic Know Your Customer) verification mean that you can skip the usual runaround and get your account up and running fast. 

Once you’re onboarded, you’ll automatically be enrolled in M Journey Corporate, the bank’s online banking platform for cashless transactions—no separate sign-up required. OBCA’s cloud-based nature also means it’s ready to grow with you; soon, you’ll be able to link it with accounting, payroll, and customer relationship management (CRM) software, all in one place. 

Well-deserved wins at Malaysia Technology Excellence Awards 

For these forward-thinking solutions, MBSB Bank clinched two major accolades at the Malaysia Technology Excellence Awards 2025: Information Management – Financial Services and Online Services – Banking.

These awards highlight how MBSB Bank is setting new standards in digital innovation and efficiency—particularly for SMEs that need robust but user-friendly tools to manage their businesses. 

Whether you’re running a single-store bakery or an expanding retail empire, MBSB Bank’s cloud-based platform and consolidated account management system can help you reclaim hours lost to manual reconciliation and paperwork. It’s a giant step forward for any business that wants to stay focussed on growth and customer satisfaction—without getting bogged down by messy finances. 

With these wins under its belt, MBSB Bank continues to raise the bar for SME-centric banking services, guiding business owners toward a future where managing money is as smooth as a well-run operation on the front lines.

The Malaysia Technology Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2026 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Danica Avila at [email protected].