Maybank targets 15,000 wealth app users in first year
KUALA LUMPUR: Malayan Banking Bhd (Maybank) aims to register 15,000 users in the first year of its Maybank Wealth App, the first bank in Malaysia to offer the first-of-its-kind mobile application for its private wealth and premier wealth customers.
The app is another initiative in the bank’s push to become a digitally integrated bank by 2020.
Maybank group head of community financial services Datuk Lim Hong Tat said the introduction of the Wealth App was a strategically important move in the bank’s journey to digitise its private and premier banking services.
“We aim to register at least 15,000 users in the first year and roll out the subsequent phases of the app over the next three years,” he said in a statement yesterday.
“The app will be introduced progressively to other countries, where we also have our private banking franchises. With more than 50 per cent of our affluent customers using digital channels, we are confident that this app will be well received by our customers.”
Lim said the bank had fully registered an average annual growth rate of 11 per cent on our affluent and high net worth customer base over the past five years and have achieved this on the premise of continuous innovation in our service delivery and products offerings.”
The Maybank Wealth App provides customers with a 360º portfolio view of their financial holdings with the bank, including products such as foreign currency accounts, retail bonds, unit trusts, gold and silver investments, savings and fixed deposits as well as loans and credit cards.
The app will also provide market insights from in-house market research and reports ranging from economic research, sector research, strategy and foreign exchange compiled by the group’s investment banking arm, Maybank Kim Eng.
The app can be downloaded via the Apple store or Google Play.