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Orpheus Capital and Huawei Malaysia to Jointly Develop Syariah-Compliant Fintech Platform For SMEs


KUALA LUMPUR, 6 July 2021: Orpheus Capital Sdn Bhd (“Orpheus”), a fully digital Syariah-compliant supply chain financing company and Huawei Technologies (Malaysia) Sdn Bhd (“Huawei Malaysia”) have joined hands to develop a Syariah-compliant fintech digital platform that provides businesses, especially small and medium enterprises (SMEs), with affordable, fast, secure, and safe financing.

The joint initiative will include the roll-out of several fintech products, such as invoice, contract, and payday financing, to assist SMEs that have been impacted by COVID-19.

The products will be made available to them via Orpheus’ proprietary digital platform, leveraging Huawei’s technological expertise.

The agreement was signed by Mr Hamudi A Khalid, co-founder and Chief Executive Officer of Orpheus Capital, and Mr Lim Chee Siong, Vice President of Cloud and AI, Huawei Malaysia.

Mr Hamudi expressed his strong support for the partnership, stating that Orpheus is honoured to be collaborating with a reputable global firm such as Huawei that aims to assist SMEs and raise their standards of living via the availability of financing services provided by Orpheus. He also noted that Orpheus is eager to extend their Syariah facilities and continue with their development work in the SME sector, especially for enterprises involved in critical industries.

“At Orpheus, it has always been our goal to further contribute towards the growth of the nation by ensuring that SMEs and enterprises have quick access to cashflow financing at reasonable costs. This will be among many of the various endeavours we plan to undertake to serve as a catalyst in promoting the participation and success of the various SMEs in our current economic climate,” said Mr Hamudi.

“The developmental impact of our products and services are an integral part of our DNA and via this partnership agreement and with the technical support of Huawei Malaysia, we hope to be able to scale up our financing to the SMEs. This in turn will pave the way for the creation of more jobs as well as improvements in the cashflows of the un-bankable, underserved and unserved smaller players across the value chain,” Mr Hamudi said.

Huawei Malaysia Chief Executive Officer Mr Michael Yuan too conveyed his appreciation and support towards Huawei’s latest counterpart and initiative. “We are very proud to partner with Orpheus, a very dynamic digital fintech company. Huawei is honoured to provide the critical and necessary technology support that Orpheus requires, while at the same time, assist them in utilising the latest technologies such as data gathering and capturing, Electronic Know-Your-Customer (e-KYC), fraud mitigation, and Machine Learning.

“Additionally, we will be ready to extend our support to Orpheus in adopting other related technologies with best practices as well as technical support when needed. This will enable Orpheus to strengthen its capacity in assisting Malaysian local and small business players, particularly those in the rural areas, to execute their crucial projects. This partnership provides an exciting opportunity for us to further support Malaysian SMEs and we look forward to leaning on each other’s expertise and experiences,” added Mr Michael Yuan.

Mr Lim Chee Siong said that as a global technology leader, Huawei was well positioned to help give SMEs a leg-up to overcome the challenges they face in these trying times. “We at Huawei believe in the power of technology to improve lives and build a strong and supportive ecosystem for businesses to thrive. Therefore, we relish this opportunity to work hand-in-hand with Orpheus to reach the unreached, and help ensure that everyone gets to enjoy the potential that technology has to offer,” Mr Lim said.

The collaboration will see Huawei acting as a technology advisor and provider, to assist Orpheus in developing and enhancing related IT infrastructure and modules, utilising technologies such as machine learning and Big Data, which are used in Orpheus’ digital platform to perform tasks such as data gathering and capturing, e-KYC and fraud mitigation.

Huawei will also lend its expertise and resources to advice and support Orpheus on the preparation, tendering and presentation stages of proposals to potential clients.

Additionally, Orpheus will provide its digital platform services to other financing companies and institutions via white-labelling or under its own platform. It will also serve as a processing arm for government agencies, private companies, cooperatives, and financial institutions.