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Maybank: Digitise to Humanise

Maybank is South East Asia’s leading banking organization that has adopted a systematic way of transformation:

Maybank: Digitise to Humanise

In May 2021, Malaysia’s leading bank Maybank had unveiled a new 5-year strategy, code-named M25, designed to accelerate its growth and strengthen its position among the financial services groups in the whole of South East Asia. The bank had described M-25 as an extension of its Maybank 2020 Plan and intended to address the emerging macroeconomic, social and technological trends, and to ensure that the bank had an effective strategy in place for the next 5 years. The bank’s Chairman, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa had described M25 as a plan devised for the purpose of ‘Humanising Financial Services’, and which has been refreshed to reflect the bank’s long-term priorities and a new operating landscape.


M25 was to be guided by 3 strategic priorities – being Pervasively Digital, building New Value Drivers and embedding Sustainability throughout the bank’s operations that were to deliver the outcomes of sustainable ROE and top-rated customer experience and to make the bank a regional ESG leader. Ultimately, the bank aspired to become the preferred ASEAN bank, a global leader in Islamic finance and a leading ASEAN insurer. Of the 3 goals, the one relating to offering the ultimate experience for customers will be driven by giving digital and hybrid services by leveraging data analytics, and measured by achievements in its Net Promoter Score, Digital Penetration and Conversion Rate.

Maybank is the largest financial services and banking group in Malaysia. It has a customer base of more than 22 million, who avail of its financial products and services, notably consumer and corporate banking, treasury activities, insurance, and asset management. While it has achieved notable digital milestones like QRPay and Maybank Trade, it is the M25 plan that put digitization as a key-value driver. The aim is to provide customers with simple and convenient access to its financial services using all-pervading digital solutions.


The bank had earlier revamped its Maybank2U mobile app and website to offer a seamless transacting experience. The mobile app now features enhanced payment capabilities and customer personalization. It has some 7 million active users and new upgrades enabled customers to generate dynamic PayNow QR codes for on-demand fund transfers. The mobile app also features a display of remittance options for more transparent overseas fund transfers.

Maybank2U also has MAE, or ‘Maybank Anytime, Everyone’ which is a complimentary mobile banking and e-wallet app seamlessly integrating online banking with one’s lifestyle needs. MAE allows customers to have full access to their savings accounts, pay bills and transfer funds. It also offers newer fintech solutions such as expenses monitoring, in-app virtual debit cards and ‘Tabung’, an individual and group-goal based savings feature.

MAE also has a digital home financing solution ‘Maybank Home2u’. It can provide loan approvals within 10 seconds and is available to both existing and new customers. The solution offers a fully digital experience from application to approval and signing of Letter of Offer (LO) – without having to visit a branch.

E-CLEVA is the bank’s integrated live video chat solution which among other things offers real-time assisted claims support for motor and fire insurance as the bank can now process claims digitally and within 15 minutes.


The bank has implemented ML solutions for processing credit applications, for branch operations and for remittances. In addition, it has also introduced RPA and ICR/OCR technologies for some open operations. It has completed migration of transactions from branches onto the online payments platform and implemented AI in Anomalous Parts Detection for vehicle claims submission. It has fully digitized KYC process, enabling a customer to onboard through app-integrated video calls.


The bank has a technology tie-up with ride-hailing company, Grab, to implement a cashless payments system. Now, customers of Maybank and Grab can choose between using their GrabPay or Maybank QRPay mobile wallets at the merchants they support. In addition, there is a new dual-faced credit card that enables customers to seamlessly collect GrabRewards points that they can then use to redeem vouchers and other rewards.

The bank has launched a new mobile app for SMEs, Maybank2u Biz, which is developed to cater to the needs of busy business owners. The application has features such as an ‘invoicing’ tool, which allows business owners to create, issue and track invoices. Invoices can be customized using ready-to-use templates, and sent out to their customers via various communication channels such as email and chat messaging applications on their mobile devices. SMEs can easily access their in-depth financial information through the application, as it provides a full view of their accounts on its dashboard. Maybank currently serves about 58% of the total SMEs in Malaysia.

Maybank is one financial services institution in Asia that offers a wide range of digital products and services, all seamlessly integrated into a customer’s everyday life. While digitization happens, the bank does not lose sight of its professed core principle – humanising banking.


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This article has been compiled based on publicly available information on the web, particularly the bank’s own website.

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