The SME Development Finance Corporation (SDFC) has begun integrating its services with the Bank of Maldives (BML) mobile application, allowing customers to view and pay their facility balances directly through the platform.
The phased rollout, introduced through BML’s BillPay feature, is part of a broader effort to digitise services for small and medium-sized enterprises and to strengthen the efficiency and security of financial transactions across the country.
Through the new system, customers logging into the BML app with their personal banking accounts can access facility details under the 'Account' tab. The information includes the total outstanding balance and the monthly payable amount, offering immediate visibility into repayment schedules.
Badhurudheen Hassan, the corporation’s chief executive and managing director, described the initiative as a critical step in efforts to digitise all services offered to the SME sector. He said linking SDFC facilities with the BML banking network was designed to simplify service delivery. The corporation now operates as a subsidiary of BML.
Hassan also underscored the expected reduction in reliance on manual bank transfers. By replacing those processes with automated, real-time transactions, the system is intended to accelerate service delivery and improve the accuracy of financial management.
To encourage adoption, the corporation has issued detailed guidance on using the BillPay feature across its social media platforms.