Retail News CRM

Tag: Maybank

  • Maybank debuts m-banking in Cambodia

    Maybank debuts m-banking in Cambodia

    Maybank has introduced its mobile banking app in Cambodia as part of efforts to strengthen its presence in the country.

    The app is the first in Cambodia to offer augmented reality and a QR code reader. A similar app was launched in Malaysia in 2014.

    Maybank group head of community financial services Datuk Lim Hong Tat, who launched the new app in Phnom Penh, said that internet banking has become a trend for many digitally savvy Cambodians who are increasingly comfortable transacting over this channel.

    Maybank’s online banking channel, namely M2U, which was introduced in Cambodia in 2012, is seeing robust growth with its registered user base increasing by over 50% within a year, and the volume of transactions has also risen by over 50% from 2014 to 2015,” said Lim.

    Lim said that with the launch of mobile banking app, customers in Cambodia will enjoy enhanced customer experience and greater speed when undertaking banking transactions over their mobile phones.

    “With the mobile banking app, Maybank customers can check their account balance, including all debit card purchases and perform simple transactions anytime, anywhere, alleviating the need for trips to our branches,” Lim explained.

    Other features offered by the app include the ability to send money to anyone with a mobile phone number – such transactions allow for cash to be withdrawn at any Maybank ATM without using an ATM card.

    The augmented reality branch locator tool allows customers to scan their surroundings and follow onscreen directions. It also detects nearby ATMs and promotions exclusive to the Maybank customer.

    The in-app QR code reader as well as loan calculator is available for public use, even if they are not yet a Maybank customer.

    Maybank Cambodia currently operates a network of 21 branches throughout the country complemented by 40 self-service terminals.

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  • Maybank Indonesia converts Indian operations to Intellectual Property branches

    Maybank Indonesia converts Indian operations to Intellectual Property branches

    Intellect Design Arena Limited, a specialist in applying true Digital Technologies across Banking, Financial Services & Insurance, announced that Bank Maybank Indonesia one of the largest banks in Indonesia has gone live with Intellect’s Integrated Treasury Management System(ITMS)-OneTreasury for their Indian operations.

    The centralized treasury management solution from Intellect’s Risk, Treasury and Markets (iRTM) division has enhanced operational efficiency across asset classes and enabled overseas branch to eliminate dependence on intensive manual operations. The entire process of solution deployment, User Acceptance Testing (UAT) and data migration was completed in a span of 7 months.

    The product implemented will play a key role in the bank’s treasury operations in India. This robust and functionally rich ITMS solution is compliant with the RBI regulations and integrates seamlessly with the Bank’s Core Banking System. The solution suite implemented will enable its Indian customers to trade across Fixed Income, Money Market and Foreign Exchange securities electronically and mitigate the risk associated with these trading activities. The flexible data upload facility aids decision makers to make insightful decisions on time by reducing manual intervention and minimizing errors. Bank’s need for a treasury solution which could be implemented in quick time frame for mobilizing operations was possible by Intellect’s Rapid Implementation Methodology which allows the bank to transfer and deliver a working system in a span of couple of months inclusive of go-live.

    Commenting on the successful go-live, Pravin Batra, CEO, India, Bank Maybank Indonesia said, “We are happy to have chosen the stable and functionally rich solution from Intellect to manage our treasury operations in India. This implementation has been smooth and has enabled us to meet India-specific regulatory needs in line with our business objectives.

    We are extremely delighted to see the outstanding team effort put forward by team Intellect during implementation. At Maybank we believe in providing superior customer experience, with a stable treasury system from Intellect we are confident of providing an unprecedented service and banking experience. We look forward to further strengthening the relationship
    between Maybank group and Intellect Design Arena going forward.”

    Venkatesh Srinivasan, Chief Executive Officer, Risk, Treasury & Capital Markets, Intellect Design Arena Limited said, “Bank Maybank Indonesia’s choice of Integrated Treasury Management System, Intellect OneTREASURY, to power their foreign branch operations is yet another testimony to the superior functionality of our solution and our leadership in the country’s treasury management space. The cost effective OneTREASURY solution meets the Indian regulatory requirements which will enable the bank to achieve its business objectives and improve its competitiveness in the international marketplace.”

    The advanced scalable OneTREASURY solution enhances productivity and enables centralized decision making for the bank. Customers of the Indian branch will now have access to a user-friendly treasury system which centralizes operations and provides operational efficiency through complete automation and seamless integration of treasury functions.

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  • Maybank Islamic secures four awards

    Maybank Islamic secures four awards

    Maybank Islamic Berhad has clinched the Leadership Issuer of the Year Award for a financial institution by the Asset Triple A Islamic Finance Awards 2015 for its RM1.5 billion Basel III-compliant subordinated sukuk murabahah, which was the single largest deal of its kind launched by an Islamic financial institution.

    The issuance was pursuant to a subordinated sukuk murabahah programme of up to RM10 billion in nominal value established in March 2014.

    The transaction received encouraging response from investors resulting in an oversubscription rate of 2.9 times, enabling Maybank Islamic to upsize the deal from the initial target of RM1 billion. Maybank Investment Bank Berhad acted as the Lead Arranger and Manager.

    “Proceeds raised from the subordinated sukuk murabahah are used to position Maybank Islamic for stronger growth domestically and regionally,” said Maybank Islamic Chief Executive Officer Muzaffar Hisham.

    He also thanked his team for their hard work in the sukuk issuance and The Asset for recognizing this effort.

    “The strong demand we received from investors for this programme is a testimony of Maybank Investment and Maybank Islamic’s leadership in the Islamic capital market space,” he said.

    The Sukuk programme also won an award in the category of Highly Commended Best Bank Capital Sukuk.

    In 2014, Maybank Islamic Berhad cemented its leadership position as it posted robust double-digit growth rates in financing, deposits and in asset size which stood at RM146.4 billion as at December 31 2014.

    Maybank Islamic also won 4 other awards. These were the Islamic Bank of The Year for Asia Pacific and Malaysia, Best Islamic Retail Bank, Best Islamic Trade Finance Bank. It also picked up 2 awards in collaboration with Maybank Investment Bank for Best Corporate Hybrid Sukuk and Best Local Currency Sukuk.

    Maybank Investment also won the following awards – Best Reit sukuk, Best bank capital sukuk-Highly commended, Best corporate sukuk, Best quasi-sovereign sukuk, and Best Islamic Deal.

    The awards ceremony took place here recently and Maybank Islamic was represented by its Deputy CEO, Nor Shahrizan Sulaiman and its Head of Corporate and Investment Banking Arshad Ismail.

    Maybank Islamic is currently the leading Islamic Bank in ASEAN and the largest Islamic Bank in Malaysia securing a 32.7 percent domestic financing market share and accounting for 43.8 percent of Maybank Group’s total domestic loans/financings.

  • Maybank to grow Singapore retail SME loan portfolio by 40% this year

    Maybank to grow Singapore retail SME loan portfolio by 40% this year

    Maybank is planning to “aggressively expand” its retail small and medium enterprises (RSME) financing across Singapore and the region, it said on Monday.

    The bank will be lending money to more businesses with revenues of up to $20 million, termed “retail SMEs” because they have simpler financing needs akin to those of retail or consumer banking.

    The move follows the implementation of its RSME model in Malaysia, which has seen a compounded annual growth rate (CAGR) of more than 30 per cent in loans since it was fully rolled out in 2013.

    Maybank Singapore said it expects to grow its total RSME loan portfolio by 40 per cent this year.

    In the two years since the RSME business was officially launched here, SME loans have increased by more than 50 per cent and deposits have risen by almost 25 per cent, according to Mr Choong Wai Hong, head of community financial services (CFS) for Maybank Singapore.

    “Our RSME business was a newly created segment which we identified as having great potential in 2011,” said Mr Lim Hong Tat, chief executive of Maybank Singapore.

    Mr Lim added that Maybank will be focusing on building its RSME portfolio regionally as the formation of the Asean Economic Community has resulted in countries placing increasing emphasis on smaller firms. “Asean economies are powered by the SME segment, which generates about 50 per cent of employment and some 40 per cent of GDP on average,” he added.

    “The SME industry itself is growing by between 8 and 28 per cent CAGR in these markets and presents an untapped potential for growth.”

    Maybank has introduced its RSME model in Indonesia, the Philippines, Cambodia, Laos and Brunei.

    The bank also has online capabilities to help small business owners improve their productivity in areas such as payroll, collections and payments. Maybank intends to devise more innovative financing solutions to help business owners manage uncertainties around their cash flow.

    “As the only bank with a presence in all 10 Asean countries, we are well-poised to help more small businesses capitalise on new opportunities to grow their business locally and access new markets in the region,” Mr Choong said.

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  • Maybank widens presence in Laos with second Vientiane branch

    Maybank widens presence in Laos with second Vientiane branch

    Malayan Banking Bhd (Maybank) has expanded its network in Laos with a second branch in the capital Vientiane, thus establishing a greater presence in one of the fastest expanding economies in Asean.

    The branch, located in the commercial district of Nongduang, offers a full spectrum of banking services, and aims to serve the needs of the local community as well as customers from across the region having trade and investment links in the country.

    The new branch was officially launched by Bank of the Lao PDR (central bank) deputy governor Vathana Dalaloy at an event hosted by Maybank chairman Tan Sri Megat Zaharuddin Megat Mohd Nor.

    Maybank international CEO Pollie Sim said the opening of the Nongduang branch will strengthen Maybank’s presence in Indochina and enhance its ability to meet the banking needs of customers, particularly the growing investor base into the country.

    “Laos is among the strongest performing economies in the region, with steady economic growth of around 8.5% for the past four years and is anticipated to achieve 7.5% real gross domestic product growth on average from 2016 to 2020, according to the government’s eighth development plan.”

    Sim said the first Maybank branch in Vientiane, which was opened in 2012, has experienced encouraging growth with loans and deposits rising at an annual average of 46% and 78% respectively over the last two years.

    “We anticipate that the opening of this second branch will further boost our franchise in the country and lift our loans and deposits growth to over 70% and 100% respectively by end of 2016,” she added.

    Services offered by the two Maybank branches in Laos include retail and business banking, foreign exchange, remittances, treasury as well as ATMs. The retail offerings include mortgages and personal loans while business banking services include term financing and trade financing.

    The two branches have a paid-up capital of LAK200 billion (about RM100 million) a staff strength of 30 in total.

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  • Maybank Singapore in ongoing talks with MAS over incorporation here

    Maybank Singapore in ongoing talks with MAS over incorporation here

    Maybank Singapore on Thursday said it has had ongoing consultations with the Monetary Authority of Singapore (MAS) on the incorporation of its operations in Singapore, and “reaffirm our commitment to this”.

    It did not offer a date for the incorporation of its retail business here, and remains the only one of seven domestic systemically important banks (D-SIB) in Singapore that have not incorporate the business, or confirmed a timeline for this.

    A framework unveiled by the MAS in May 2015 listed seven banks – DBS, OCBC, UOB, Citibank, Standard Chartered, Maybank and HSBC – as lenders that are effectively deemed “too big to fail” in Singapore, mainly because of their significant retail presence here. These banks will face additional supervisory measures, and this includes locally incorporating their retail operations.

    This means the local deposits are ringfenced from the group’s operations, and it provides protection against a potential loss of Singapore-based consumers’ money when the overall group runs into trouble.

    HSBC has announced that it expects to incorporate its retail operations this year. All but Maybank and HSBC have ringfenced their retail business here.

    “Maybank sees Singapore as a key market, and an important gateway to the rest of the region. The local incorporation signifies a further deepening of Maybank’s roots in Singapore, cementing its unwavering commitment to the local community after 55 years in the country,” Maybank Singapore said.

    “Singapore is an important part of the bank’s strategy to continue growing its international business and we look forward to forging even closer ties with our customers in Singapore and the region.”

    Relating to banks that have to locally incorporate their retail operations, MAS has said that “where appropriate, MAS will provide such D-SIBs with an adequate transition period to comply with this requirement”.

  • Maybank Launches Market Outlook Roadshow Across Malaysia

    Maybank Launches Market Outlook Roadshow Across Malaysia

    Maybank Investment Bank has just kicked off their annual Market Outlook 1H 2016 investors’ roadshow across Malaysia for this year’s investment strategies.

    The Market Outlook is aimed to share stock market views and investment strategies on the Malaysian, Hong Kong, and US markets with their retail equities clients, with the roadshows behind held in the multiple states Johor, Penang, Ipoh, Kota Kinabalu, Kuching, Sibu, Seremban, and Kota Bahru and Kuala Lumpur from 9 to 30 January 2016.

    Present during the launch was Head of Retail Equities (Malaysia) CK Lim, Head of Regional Retail Research Ong Seng Yeow, Regional Chartist Lee Cheng Hooi, Head of Retail Research (Hong Kong) Benny Wong and CEO of i-VCAP Mahdzir Othman.