Maybank sees higher online transaction this year

Maybank has four branches in Greater China, in Shanghai, Beijing, Hong Kong and Kunming.

KUALA LUMPUR: Maybank expects its online banking transactions to increase to 6.4 billion this year, to be driven by the new and reimagined Maybank2u website, which will be launched to the public on April 19.

The new Maybank2u comes with a complete change of user interface and offers an enhanced experience when transacting.

It has also been simplified, taking into account the personalised needs and feedback of customers.

Maybank group head of community financial services Datuk Lim Hong Tat said that since the introduction of the bank’s online banking service in 2000, the number of transactions conducted on its online platform had risen steadily each year, reaching 4.27 billion in 2017.

“With the advent of mobile banking and the increasing use of smartphone coupled with growing internet penetration, the growth in online transactions had accelerated, recording a 49% increase in 2017.

“The total number of online banking monetary transactions via Maybank2u totalled around 360 million, and at its peak, Maybank2u has recorded come 20 million transactions in one day,” he said.

In 2017, some 99.6% of Maybank’s total consumer banking payments and transfers was conducted over online and self-service platforms (ATM).

The value of transactions made through Maybank2u in 2017 amounted to RM318bil, which is a 34% increase from 2016.

Lim added that the number of registered users of Maybank2u in Malaysia has been growing steadily and currently stands at 10.69 million, and this figure is expected to grow by 20% to 30% annually.

The newly designed Maybank2u will progressively be rolled out to Maybank’s key markets overseas such as Singapore, Indonesia, and the Philippines, with work in progress already underway for the new Maybank app in line with the group’s mobile first strategy.

The new Maybank2u website incorporates several new first-of-its kind features that will provide users even more convenience when conducting transactions online.

It will offer a display of remittance options when customers wish to transfer funds overseas.

This display will provide transparency of the charges and foreign exchange rates as well as an unification of the times taken for transfer.

On the other hand, the personalised security image offers an enhanced level of security as customers can opt to use their own pictures for their security image to be displayed before logging on to Maybank2u.

In addition, they have an option to select personalised themes for the look and feel of the website, which will then change according to different times of the day.

There is also a 360-degree Dashboard which provides each customer a holistic view of his or her accounts and investments.

To be released in phases is also a Debit and Credit Card Spending Pattern Tracker, which offers users the ability to quickly understand their spending habits — not only to track them, but also adjust and manage their spending according to individual needs.

Along with the spending tracker feature is the Goal Savings Plan, which offers a customised savings planner for customers to plan and achieve their goals by putting aside savings in specifically created sub-accounts.