Maybank targets 100,000 take-ups for MAE

KUALA LUMPUR: Malayan Banking Bhd (Maybank) expects 100,000 take-ups for its newly launched Maybank Anytime Everyone (MAE) digital account platform by the end of this year. 

However, group president and CEO Datuk Abdul Farid Alias is optimistic that the newly launched app will be able to reach all 4.5 million of the group’s mobile customers eventually. 

“We want all 4.5 million of our mobile customers to go into MAE. However, this (applying for the app) is behavioral so we will have to wait and see,” he said at the launch of MAE today. 

Farid said online banking transactions have been growing on a year-on-year basis, especially via mobile platforms. 

“Digital platforms are cheaper compared with the cash and cheque method and we believe this trend will continue,” he said. 

The MAE platform is the first ever product that enables users to open an account via their mobile phone. 

The product allows users to start a banking relationship online via the Maybank app in less than five minutes and transact instantly while enjoying the convenience of a full-fledged e-wallet. 

According to Maybank community financial services group chief executive officer Datuk John Chong, the bank’s M2u online transaction volume totaled 5.85 billion in 2018, comprising 3.77 billion on its website and the remaining 2.08 billion on mobile devices.