SME Digital has partnered with Bank of Maldives (BML) to introduce an automated repayment integration aimed at making financing repayments easier for customers.

According to SME Digital, the new service will allow customers to automatically repay their financing facilities through deductions from their BML accounts on scheduled due dates. The company said the initiative is part of its ongoing efforts to enhance customer services through digital solutions.

SME Digital Chief Executive Officer Badhurudheen Hassan said the integration will simplify the repayment process by reducing the need for manual payments and enabling automatic deductions directly from customers' bank accounts. He noted that the system is expected to reduce administrative tasks, ensure timely repayments, and help customers maintain a stronger credit history and credit rating.

SME Digital added that the automated repayment feature will also shorten payment processing times, allowing business owners to focus more on growing their enterprises. The service will be introduced in phases, beginning with customers who converted conventional loans to Islamic financing under the Islamic Refinancing Initiative.

SME Digital said the facility will be gradually expanded to include other customers in future stages as part of the company's commitment to providing convenient digital financial services.