May­bank en­hances on­line ex­pe­ri­ence

The Sun (Malaysia) - - SUNBIZ - BY EE ANN NEE

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.

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