Maybank enhances online experience

KUALA LUMPUR: Malayan Banking Bhd (Maybank), which will launch its revamped Maybank2u website tomorrow, expects the number of its online banking transactions to increase to 6.4 billion in 2018, from 4.27 billion in 2017 since the introduction of online services in 2000.

The new Maybank2u, which is simplified, personalised and optimised, comes with a complete change of user interface and offers an enhanced experience when doing online banking.

Maybank group head of community financial services Datuk Lim Hong Tat said the number of online banking monetary transactions via Maybank2u totalled around 360 million worth RM318 billion last year, 34% higher than the previous year. At its peak, Maybank2u recorded 20 million transactions in one day.

“This platform lays the foundation for us to build our leadership in digital banking in the next five to 10 years,” Lim told a press conference at the preview of the new Maybank2u here yesterday.

In 2017, 99.6% of its consumer banking payments and transfers were conducted through its online and selfservice platforms.

Lim expects a 20%-30% jump in the number of registered users of Maybank2u in Malaysia a year, which currently stand at 10.69 million. Indonesia and Singapore has 660,000 and 275,000 users respectively.

He said transactions over Maybank counters have dropped 20%-30% over the past few years, adding that the bank will still relocate branches when necessary.

Lim said it has managed to reduced its manpower in the past few years thanks to digitalisation, which helped reduce costs. The group will wait for natural attrition to avert any retrenchment.

Progressive rollout of the new website will begin soon, and during the initial phase, the classic site continues to be available.