SME Digital has introduced an automated repayment integration in partnership with Bank of Maldives (BML), aimed at simplifying facility repayments for customers.

The new system enables repayments to be automatically deducted from customers' BML accounts on scheduled due dates, eliminating the need for manual payments and making the repayment process more seamless.

SME Digital said the integration forms part of its ongoing efforts to enhance customer experience through digital solutions. The system is expected to reduce administrative burdens, improve repayment efficiency and help customers maintain timely payment records.

The company noted that automated repayments can support stronger credit histories and credit ratings by ensuring payments are made on time. It added that the service will also save customers time, allowing them to focus more on their business operations and growth.

The service will be introduced in phases, with the initial rollout targeting customers who have converted existing conventional loans to Islamic financing under the Islamic Refinancing Initiative.

SME Digital stated that the automated repayment facility will be gradually expanded to include additional customer segments in future phases.