Maybank targets 100,000 MAE account users

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is targeting 100,000 account users for its newly-launched digital app, Maybank Anytime Everyone (MAE), by yearend.

Group president and chief executive officer (CEO) Datuk Abdul Farid Alias said the bank was optimistic the app would eventually reach its 4.5 million mobile customers.

“We want all 4.5 million of our mobile customers to go into MAE. However, this (app) is behavioural. So, we will have to wait and see,” he told reporters after the launch of the digital application yesterday.

The MAE app allowed users to open an account via their mobile M2u App and transact instantly while enjoying the convenience of a full-fledged e-wallet.

“MAE aims to enhance the functions of an e-wallet by providing access to wider banking services, ultimately creating a seamless and rewarding experience for users,” Abdul Farid said, adding that MAE was expected to further solidify Maybank's leadership in the online banking industry.

Currently more than 66 per cent of all mobile banking transactions in Malaysia goes through its app.

Meanwhile, community financial services group CEO Datuk John Chong said the group had seen M2u online transactions total ling 5.85 billion in 2018, comprising 3.77 billion on the website and the remaining 2.08 billion transactions on its mobile platform.

“M2u monetary transactions grew 43 per cent, year-on-year (y-o-y). Mobile transactions overtook web and grew at a much faster pace of 173 per cent, y-o-y.

“With the introduction of MAE, mobile transaction growth is expected to continue at a high momentum,” he added. — Bernama