KUALA LUMPUR: Malayan Banking Bhd
(Maybank) expects the value of banking transactions via its mobile platform to rise by over 50% this year to about RM25bil, driven by the new Maybank2u app as well as the growth momentum achieved last year.
Group chief strategy officer Michael Foong said the volume of digital banking transactions was growing at a much faster rate compared with transactions done via online platforms.
“In 2016, the number of transactions carried out via mobile devices grew by 72%, while transactions via all online channels (including desktops and personal computers) rose by 41%, demonstrating that users are increasingly comfortable with digital platforms,” he said in a statement on Monday.
In view of this rapid change in customer behaviour, Foong said the Maybank2u app went through a complete rethink to make it even more simple and convenient to use.
Designed to free customers from the constraints of a laptop or desktop, he said the app would enable users to conduct their everyday banking anywhere and anytime.
The refreshed Maybank2u app offers a significantly faster user interaction, as its development took into consideration every single microsecond of the system interfaces to ensure an optimal experience is delivered.
Its enhanced features allow customers to get instant access to their balances, with fingerprint recognition technology.
Weaved into the app is the ability to view an aggregated balance of all accounts, providing a better view of the customers financial standing.
Another first for mobile banking is the Secure2u feature enabling customers to enjoy added security for their transactions.
To be introduced by end April, Maybank said Secure2u allows a customer to have the option to acknowledge and digitally verify transactions via the new app.
“Delays in receiving Transaction Authorisation Codes (TAC) via SMS will also be eliminated as Secure2u comes embedded with Secure TAC which allows for it to be generated on the mobile app,” it said. - Bernama
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
