Banking on social media

New friends: CIMB Bank head of retail financial services Peter England (left) and Viegas at the launch of CIMB Bank’s OctoPay application- Asean’s first banking service on Facebook.

CIMB Bank has launched its OctoPay application — Asean’s first banking service on the world’s most popular social networking site, Facebook. The application is an extension of CIMB Clicks, an Internet banking portal developed by the bank.

CIMB Bank group deputy chief executive officer and head of consumer banking Renzo Viegas commented, “This is truly an innovative breakthrough on the way we do banking in this day of age. Facebook is the fastest growing social networking medium and is reported to have a total online reach of more than 800 million subscribers worldwide. With OctoPay, we took the lead by diversifying our alternate delivery channels, and integrate our Internet banking capabilities with social networking elements which is convenient and fun for our customers who are also active Facebookers.”