New Straits Times
‘95PC OF TOTAL IN 2023’ GOAL
RHB Bank also allocating RM140m to expand in Cambodia and Singapore
RHB Bank Bhd aims to have digital transactions make up 95 per cent of its total banking transactions in 2023 from 93 per cent currently.
“If I have to put one factor that will drive this (target), it is definitely digital payments. There is a big shift among Malaysian consumers in adopting DuitNow QR and online mobile banking transfers,” said group chief digital and technology officer Rohan Krishnalingam at the RHB Digital Day yesterday.
The group has also targeted to achieve 50 per cent customer acquisition via digital origination and become the top three in DuitNow transactions.
Group managing director and group chief executive officer Datuk Khairussaleh Ramli said since 2018, RHB Bank had allocated RM500 million for its digitalisation initiative.
“RHB’s digital plans, moving forward, are centred around enhancing its efforts on the four pillars of customer-centric journeys, engagement and acquisition, accelerating digital payments, and digital enablement across the region by building better customer value proposition via digital ecosystem partnerships.”
Khairussaleh said the group had also set aside RM140 million to expand its digital capabilities in its other two home markets of Cambodia and Singapore.
Krishnalingam said Cambodia presented a huge opportunity for RHB Bank as the mobile phone penetration in the country stood at 21 million versus its population of 16 million people.
“We have decided to go digital in a big way in Cambodia. They have a very young population with median age of 26 and they are very digitally savvy.”