88
accesstofinance
Reachingtheunderbanked
In our effort to reach out to customers in smaller communities of rural areas, we
have utilised agency services or shared banking services (SBS) where customers
are able to conduct basic banking services. The services provided are free of
charge and the transaction costs are fully funded by the bank. We have a strategic
partnership with Pos Malaysia Berhad which has a wide network of outlets
nationwide through its 700 strong network.
The partnership has enabled us to create further accessibility both in urban and rural areas. SBS is particularly useful for the underserved rural markets, in areas where banking
facilities are limited. SBS has now been further expanded to 350 POS Malaysia outlets. At the end of 2013, deposits grew over 260%, withdrawals went up by 110% and there
was an increase in payment transactions of over 180%. We plan to continue to expand the services with other potential agent banking partners like Felda and Sime Darby.
Another way that we are reaching out to the underbanked is through the cardless withdrawal service. The cardless withdrawal service via ATMs enables Maybank customers
with an online banking account to transmit money directly to any person in Malaysia using a Malaysian registered mobile phone number. Recipients can withdraw the cash
instantly at any Maybank ATM without an ATM card. This would dramatically change the way Malaysians remit money to their friends or relatives, as it opens up Maybank’s
channels even to those without accounts at the bank.
OURPRODUCTSANDSERVICES
A customer using the Maybank One Solution which was introduced as part of efforts to increase access to
financial services
RURALOUTREACH
The National Bank of Cambodia had indicated that they wanted to see
commercial banks expanding to underserved provincial areas. This was
a challenge for Maybank Cambodia Plc as business concentration was
really only in Phnom Penh and its outskirts. Our Community Financial
Services(CFS) and Channel Management teams came together to do
some out of the box thinking on how best to open branches in provincial
areas where there are typically only two top local banks who are also
usually the top performers in the area. We faced the challenge that
we would be the only foreign bank and a possible third choice for the
community in that area. We went ahead anyway and the rest is history.
Our presence was received with gratitude including from the Governor
as Maybank’s presence is seen as a catalyst to help local businessmen
grow. Our presence in particular benefits the lower income segment.
To extend our range in the Indonesian archipelago, BII is building
infrastructure on a concept of ‘branches without borders’ which is a
complete mobile banking service with Customer Service staff and ATMs
that are targeted for people in areas away from the economic centres.
In 2012, BII succeeded in launching the first-in-Indonesia Paperless
Account Opening, which apart from reducing our paper consumption,
increases our efficiency as well as enables us to better serve our
customers. With the Paperless Account Opening System, the Bank only
requires a potential customer’s KTP (identification card) to be scanned
and a new account can be opened in less than 12 minutes. Additionally,
because there is only a single profile for every customer, efficiency has
also further increased compared to previous years.
