Maybank raises the bar with launch of MAE

PETALING JAYA: Malayan Bhd (Maybank) today launched the first ever product in that enables users to open an account via their mobile phone called MAE (Maybank Anytime, Everyone).

With MAE, users are now able to start a banking relationship online via the Maybank App in less than five minutes and transact instantly while enjoying the convenience of a full-fledged e-wallet, it said in a statement.

MAE’s e-wallet with banking convenience means that all banking features such as Instant transfers, ATM services, bill payments, prepaid reloads can be carried out like a regular banking account. Customers can also transfer funds from another to MAE via the regular funds transfer service.

Maybank group president and CEO Datuk Abdul Farid Alias said MAE is a result of deep research and development centred on the growing demand in the digital payment space, and created especially for the digitally savvy users.

“We have taken it up a notch by incorporating an e-wallet and a host of other banking features which will almost eliminate the need to visit a branch for transactions.

“Our intention is to ultimately bring this across to all our key home markets in the region to enable even more of the masses to enjoy the convenience of banking made much simpler, in line with our mission of humanising financial services,” he explained.

He further added that MAE demonstrates the bank’s continuous effort in creating highly engaging digital experience for all segments of its customers through the bank’s digital banking platforms, which has been evident since the introduction of Maybank2u (M2u) in 2000.

Maybank group CEO Community Financial Services Datuk John Chong said the bank had seen the volume of M2u online transactions totalling 5.85 billion in 2018, comprising 3.77 billion on the website, with another 2.08 billion on its mobile platform.

“M2u monetary transactions grew at 43%, whilst mobile transactions overtook web and grew at a much faster pace of 173% year-on-year. With the introduction of MAE, mobile transaction growth is expected to continue at this high momentum.

“MAE is expected to further solidify Maybank’s leadership in the online banking space, where currently more than 66% of all mobile banking transactions in Malaysia goes through our App,” Chong added.

Source: The Sun Daily

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