Maybank aspires to be the Digital Bank of Choice for Malaysians by putting customer experience at the centre of everything it does. As Douglas Blakey reports, Maybank truly deserves the accolade of scooping the Asia Trailblazer of the year award for institutions.
Maybank steals the show at the 11th annual Retail Banker International Asia Trailblazer Awards, bagging nine awards in total. In particular, the judges were impressed with a number of products and services innovations, including its refreshed Maybank2u, Reimagined for You, internet banking service and MAE e-wallet with Visa virtual debit card.
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Maybank started with a strong hand in this years Asia Trailblazer Awards. Not only does it have an outstanding number of innovations-it is able to show demonstrable returns on its investment by way of strong metrics, market share gains and an enviable net promoter score.
The judges were particularly impressed by a number of retail banking hits, including:
MyM2U Challenge is Maybank’s annual effort to use gamification to entice and migrate more customers to its internet and mobile banking platforms. This included a four-month long (3rd November 2018 – 28th February 2019) campaign to reward users for logging on and performing banking transactions in Maybank2U, whereby users will earn & accumulate points by performing transactions via Maybank2u internet & mobile banking and boost themselves to different levels to unlock more spins & chances to win better prizes.
Maybank2u, Reimagined for You: Malaysia’s number one internet banking service with over 10.69 million registered users and over 50% market share of internet banking transactions in Malaysia has now been reimagined with an all-new Simplified, Personalised & Optimised User Interface & User Experience (UI/UX) and providing a seamless experience across all devices be it a desktop, tablet or smartphone!
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By GlobalDataMaybank QRPay 2.0 is Malaysia’s 1st QR payments mobile wallet with direct CASA & Cards integration. The bank received multiple requests from large/chain merchants to enhance QRPay so that they could integrate it with their existing Point-of-Sale (POS) systems. Moreover, customers wanted to use their Maybank credit/debit/charge cards as a source of funds for QR payments, instead of their CASA account. And so Maybank combined all these requests into its major update – QRPay 2.0 that was rolled out starting November 2018 for an even better customer and merchant experience.
M2U Digital Financial Planner is the first of its kind in Malaysia. It successfully comprises Goal Savings Plan, Spending Tracker and Insurance Dashboard that enables customers to plan their savings, monitor their insurance and keep up-to-date on their financial goals from the convenience of the Maybank2u internet banking website.
MAE e-Wallet & Visa Virtual Debit Card is a first-of-its-kind e-wallet from Maybank which allows new or existing users to open an account via their smartphones within 5 minutes and transact instantly. This is also bundled with an instant virtual Visa debit card, without needing to visit a branch, providing them ease of access, saving time and bypassing lengthy documentation submission processes. MAE’s instant virtual Visa debit card allows users to pay for their shopping on e-commerce apps & websites the very instant the account is opened.
Furthermore, users can also add their virtual Visa debit card to Maybank Pay or Samsung Pay to pay for their retail purchases at PayWave-supporting contactless terminals or use the QRPay function to pay cashlessly at over 200,000 merchants throughout Malaysia.
Kalyani Nair -Trailblazer of the year
Under her leadership, the bank’s digital channels have experienced a +96% growth in monetary transactions, +78% growth in active users, +233% growth in mobile transactions and the highest engagement level among mobile banking apps in Malaysia (31.7 sessions/month per user).
This is a result of her obsession with digital innovation, and insistence on extensively engaging customers when designing, developing & testing new services before launching them into the market in-line with Maybank’s tagline of Humanising Financial Services.
