Malaysia’s largest banking group, Maybank, has launched a new bundled offering via kiosk banking concept – Maybank One Solution – that aims to provide a new and more convenient customer experience.
The Maybank One Solution integrates seven financial products into one bundled offering with fast approval and activation services that take 10 minutes.
Go deeper with GlobalData
The new money management solution aims to give customers financial empowerment and, according to Maybank, "the whole spectrum of financial needs is conveniently met" by Maybank One Solution – from daily transactions to savings, financing and insurance.
Maybank president and CEO, Abdul Wahid Omar, said the seven products are pre-bundled and can be activated instantly or in the future depending on the customer’s needs.
"Maybank One Solution is delivered only through Kiosks located at branch self service terminal areas, shopping malls or hypermarkets. These Kiosks operate for extended hours, seven days a week.
"It only requires one sign-up and no forms to fill. With a 3-in-1 smart terminal incorporating an e-signature pad, PIN pad and MyKad reader, customer MyKad information is auto-populated into an e-form."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMaybank One Solution has already been piloted over the last seven months and has, reportedly, resulted in the acquisition of over 30,000 new customers. There are currently 25 kiosks offering the new product and the aim is to further increase that number to 33 by end 2012. By 2013, Maybank aims to add another 45 new kiosks.
The Maybank One Solution also, reportedly, comes with a Personal Saver Account, which needs MYR10 as initial deposit. Customers will be each given a debit card as well as online, phone and ATM access.
"The Personal Saver can be linked to a Flexi Saver Plan, which can create up to three additional sub-accounts for your different savings goals.
"Every Maybank One Solution customer may be granted up to three financing schemes – personal cash, ASB Flexi Loan and FlexiCash – whether instantly or in the future, without having to go through any further application. Apart from this, it comes with auto-approved Domestic TravelCare and Premier Personal Accident Plus insurance that can be obtained instantly or in the future," added Omar.
Omar further added that the new product was part of Maybank’s strategy to "reach a broader customer base" and "entrench the group’s retail banking franchise".
"It’s also less costly than opening a branch and is easily relocated in case necessary. Above all, it improves customer acquisition rates and strengthens brand loyalty through enhanced customer experience.
"We are expanding our touch points or network via new kiosks around Malaysia, not just in all Maybank branches, but also in hypermarkets and shopping malls as we want to be closer to our customers," said Omar.
In early 2013, the lender also aims to offer Islamic banking products through Maybank One Solution and increase the choices available to customers.
Related stories
Maybank partners Legoland Malaysia
CRM strategy key focus for Maybank
Local incorporation of Cambodia operations for Maybank
