The Malaysia SME Business Outlook 2026, a study commissioned by Airwallex, suggests otherwise: more Malaysian SMEs say uncertainty is pushing them towards digital and fintech platforms than back towards traditional banking.

When asked how the economic environment is shaping their approach to cash flow, payments and savings, 42% of respondents said it was moving them more aggressively towards digital and fintech platforms. Just 33% said it was moving them towards traditional banking services, and 17% reported no impact on strategy at all.

The research drew on over 400 SME respondents in Malaysia across a range of sectors, conducted in H1 2026. It covered business growth and spending, rising costs, technology, expansion, financial operations, digital and fintech adoption, and workforce priorities.

Of the businesses surveyed 54%, have already adopted digital or fintech platforms to support their financial needs. A further 37% have not, and 9% were unsure.

Among businesses that have adopted digital or fintech platforms, the reasons are largely operational. Faster transactions led at 66%, followed by convenience at 64% and cost savings at 53%.

Distrust of fintech platforms is rare among those surveyed. 39% said they trust them somewhat and 22% completely. Just 2% said they did not trust them, while 32% were neutral and 5% were not aware of such platforms.

According to the study, among businesses that have stayed with traditional banking, 72% cited familiarity and trust, 55% pointed to better security and 40% to lower fees.

Set against the 2% who say they do not trust fintech platforms, these figures suggest inertia rather than preference, pointing to a gap that providers have yet to close rather than a settled choice.

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