Maybank eyes 12 mil applications for MAE app

KUALA LUMPUR: Malayan Banking Bhd is eyeing to secure up to 12 million applications for its newly-launched app, MAE by Maybank2u within a one-year period, said its group president and chief executive officer, Datuk Abdul Farid Alias. He said the banking group hoped all 10 million users of its existing Maybank2u app would convert to MAE, given its more convenient and attractive features with most of banking requirements could be done without having to visit a branch, whilst attracting another two million to come on board. "We would like to see our customers’ behaviour. At the end of the day, it is about their user experience. "We will try to improve it (MAE app) to make sure that they are comfortable enough to convert to it. Of course, there are people who still have a hurdle to go into a digital space and I think they need time for more education and validation. Hopefully, we will get there,” he said during the virtual launch of the new app here today. At present, there were about seven million active users of Maybank2u who are comfortable with the digital space. Abdul Farid said the introduction of the MAE app reaffirmed Maybank’s commitment in offering next-generation experience to its customers as it gives a refreshing take on a banking app and further lifts the banking group’s offerings in digital banking. He said the new app contained the existing features within Maybank2u to meet customers’ daily needs such as paying bills and making fund transfers; but MAE was introduced with new tools to help customers track their spending while encouraging them to save. As for new features, he said Maybank has created a brand new tool called Expenses, which provide a single and holistic view of everything spent across Maybank accounts, cards and QR transactions to help customers understand their spending habits better. These expenses are sorted into easy-to-understand categories such as food, utilities and shopping to give more insights into where their money goes and even cash transactions that are not normally captured by the app could be easily included with a few taps, he said. Tabung was another new feature designed to help Maybank customers save consistently and regularly to achieve their goals, he said. "It makes saving more fun, progressive and convenient by aligning the process to their lifestyle,” he said, adding new complementary features called Boosters which transform micro-spending moments into saving moments was also being introduced under MAE app. - Bernama
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