UOB M’sia online customers up by 106% over last three years

PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia) posted a 106% rise in the number of customers using its online banking services over the last three years.

This was achieved amid growing presence of and high dependence on mobile phones and tablets, the bank said in a statement.

The biggest locally incorporated foreign bank in terms of asset size and branch network revealed that the number of online transactions, including fund transfers and bill payments, rose by 133% during the period.

According UOB Malaysia’s data, the number of online fund transfers and bill payments was up by 184% and 90%, respectively, from August 2014 to July 2017.

“The data also showed that in the first seven months of 2017, online fund transfers accounted for 59% of all online financial transactions, while bill payments made up another 12%,” it said.

Managing director and country head of personal financial services Ronnie Lim said consumers’ busy lifestyles demand that their banking and payment needs are simply and conveniently met.

“Consumers expect to have ease, speed and flexibility to carry out their financial transactions in keeping with the pace of their lifestyles.

“Rather than queue at bank branches and post offices during their lunch break to pay their bills, now they can carry out their banking transactions on the go and at their convenience,” said Lim.

Customers only need to log on to UOB Malaysia’s Internet banking website from their desktops or on their mobile phones for transactions.

Meanwhile, UOB Malaysia has improved its Personal Internet Banking (PIB) website to enhance the online banking experience in line with customers’ preference and online transaction habits, apart from upgrading its PIB facility.

“Through PIB, customers are able to transfer funds by simply entering the recipient’s mobile phone number and an access code will be sent to the recipient via a text message.

“To accept funds, the recipient will have to log on to the PIB website and key in the code. The money will then be sent to their bank account of choice,” Lim added.

With PIB’s enhanced capabilities, customers can transfer foreign currency to ringgit-denominated savings and current accounts.