Affin Bank optimistic on growth prospects with upgraded digital strategy


KUALA LUMPUR: Affin Bank Bhd is optimistic about its growth prospects for the second half of 2022 with its upgraded digital strategy that provides enhanced support to customers' needs on a 24/7 basis.

President and group chief executive officer Datuk Wan Razly Abdullah said the bank has invested over RM300 million this year to upgrade its information technology systems and high technologies, putting the bank at the forefront in terms of digitalisation, while supporting customers and capturing business in the market amidst global crisis.

"We also believe that Malaysia could withstand and remain resilient to survive any anticipated global crisis as the country possesses long-term strength to overcome headwinds,” he said at a press conference after launching the Affin Merchantrade Visa Prepaid Card, in collaboration with Merchantrade Asia Sdn Bhd, here today.

He highlighted that the prepaid card has a wallet size of up to RM20,000 with the ability to purchase and store funds in up to 20 foreign currencies without any hidden foreign exchange or cross-currency charges.

Even with the ringgit depreciating, he said the prepaid card would serve and benefit more business travellers, online shoppers, students abroad and parents supporting families abroad.

"New and existing customers applying for the card will enjoy the flexibility of making payments for goods and services at more than 300,000 visa merchants in Malaysia and more than 80 million merchant locations worldwide via the visa global payment network,” he said.

At the moment, he said about 4,000 cards have been issued and the bank is looking forward to another 3,000 cards to be issued by end of this year.

"The primary objective of creating this new product is to address the common currency exchange and remittance issues encountered by customers,” he said, adding that customers could also avoid paying unnecessary fees and long queues at the money changer.

He said the prepaid card, together with Merchantrade’s Money E-wallet app, will ease the account opening process, international money transfer service, and cash withdrawals at Merchantrade branches and agents nationwide, as well as over 11,000 Visa Plus ATMs in Malaysia and 2.5 million ATMs worldwide. - Bernama

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