Maybank sees higher growth potential for mobile banking

Kuala Lumpur: Maybank says it sees high growth potential for its mobile banking services and plans to double its growth this financial year.

The bank recorded an average of RM2 million worth of transactions monthly for its mobile services last year.

Maybank this week will also become the first financial institution in the country to be introducing the first, free and downloadable banking application called M2UMap for the recently launched iPhone.

In a statement here Friday, Lim Hong Tat, Maybank’s Senior Executive Vice President and Head of Consumer Banking, said Maybank had good potential to expand its mobile banking services via the iPhone platform.

“Our mobile banking services has seen a growth of 36 per cent in our customer base in 2008 compared to the previous year.

“Our market share of mobile banking customers in Malaysia represents about 45 percent of the total number of 530,000 as at end December 2008 according to Bank Negara’s Report 2008,” he said.

Meanwhile, Maybank is introducing the M2UMap service in Malaysia this week after hitting Maybank Singapore in May. This is expected to mark a new milestone for the mobile banking services in Malaysia and to iPhone users.

Source: http://www.dailyexpress.com.my