Maybank To Roll Out More Digital Initiatives In The Region

KUALA LUMPUR, Aug 30 (Bernama) -- Malayan Banking Bhd (Maybank) plans to progressively roll out numerous digital initiatives in ASEAN to achieve its aspiration of becoming a 'digital bank of choice' in the region. In a statement, Group Chief Strategy Officer Michael Foong Seong Yew said among the initiatives included adopting blockchain technology, introducing straight-through processing (STP) for more of the bank's services, as well as, improving its online and mobile platforms for an enhanced customer experience. "With technology evolving rapidly and smartphone use on the rise including in emerging markets, customers are increasingly more comfortable with digital options for banking and payments," he said. Foong also said that Maybank has been supporting the financial technology (Fintech) community over the past three years through engagement with many Fintech companies to deepen the adoption of new age technology. Meanwhile, Maybank Singapore Chief Executive Officer Lim Hong Tat said the bank, in collaboration with Samsung Electronics Singapore, launched Samsung Pay mobile wallet facility in the republic Tuesday as part of a strategy to strengthen its digital presence in the region. The mobile wallet service would enable customers to use their credit and debit cards to finalise their transactions at almost any point-of-sale terminals in the republic, he said. "We aim to be the top community bank in ASEAN and we see payment by mobile wallet devices as a key platform to achieve this aspiration," Lim added. -- BERNAMA