AmBank to transform digital banking capabilities - Business News | The Star Online


AmBank to transform digital banking capabilities

Sulaiman (third from left) with Rohimie (right) at the flagging off of the new Proton Perdana Motorcade. - Bernama pic

Sulaiman (third from left) with Rohimie (right) at the flagging off of the new Proton Perdana Motorcade. - Bernama pic

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) wants to transform its digital banking capabilities and expects to launch new digital products over the next six months.

Group chief executive officer Datuk Sulaiman Mohd Tahir said the inclusion of financial technology (fintech) towards better mobile banking, cash management and understanding customer behaviour was now becoming very important to the bank.

“This will help us drive better productivity as a whole,” he told reporters after welcoming the new Proton Perdana Motorcade at Menara AmBank in Kuala Lumpur on Wednesday.

Sulaiman said fintech would be made available with the cooperation of the bank’s current partners like shareholder ANZ Banking Group, Insurance Australia Group and MetLife Insurance Company, or buy it over the shelf.

“Our partners are better in terms of the technology and I would like to leverage on that,” he said.

“We want to see major transformation and change moving towards mobile online banking. Once we make it better, we hope to have the majority of the bank’s current and saving accounts (CASA) holders to do online banking with the bank,” he added.

The bank has three million CASA holders and currently only 5% are using the bank’s online banking.

To a question on the impact if the ANZ Banking Group disposed of its 24% stake in AmBank, Sulaiman said he “sees no effect”.

“ANZ has been with us for very long time since 2008. The needed  infrastructure are pretty much already put in place. 

“Whoever the shareholder may be, the bank’s position in terms of building itself to become a relevant financial institution is more important,” he said.

A motorcade consisted of six new Proton Perdana cars made a stopover at Menara AmBank, led by Proton Edar Sdn Bhd chief executive officer Rohime Shafie.

AmBank has an ongoing financing programme for Proton customers, with a hire purchase of up to 90% loan.

“Proton has been an excellent partner for us and we are happy to support them as our business partner,” said Sulaiman, adding the hire purchase segment contributed around 25% to 30% to bank’s total assets. - Bernama