Maybank today introduced its “Maybank One Solution”, a new bundled offering via kiosk banking concept that not only provides a new experience for customers but also aims to cement the Group’s leadership in the domestic retail banking segment.
Maybank One Solution provides an integrated 7-in-1 financial products bundled with fast approval and activation in 10 minutes. It is essentially a money management solution that gives financial empowerment to the customer. Through this product, the whole spectrum of financial needs is conveniently met – from daily transactions to savings, financing and insurance.
The new product service was officially launched today by Maybank President and CEO, Dato’ Sri Abdul Wahid Omar together with Deputy President and Head, Community Financial Services, Lim Hong Tat, at the One Solution kiosk in Mid Valley Megamall, Kuala Lumpur.
Speaking at the launching of the new service product, Dato’ Sri Abdul Wahid said the new concept was aimed at making banking a breeze. The seven products, he explained, 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, 7 days a week,” he said. “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.”
Dato’ Sri Abdul Wahid added that the One Solution comes with a Personal Saver Account which needs only RM10 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 3 additional sub-accounts for your different savings goals.”
Apart from this, 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,” he added. “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.”
Maybank One Solution is based on the concept of “simple, fast, once and done”, offering simple, affordable products for everyday needs. It is easily accessible and will appeal to the majority of mass customers as application is made once, for all products, with on-the-spot processing and approval.
Dato’ Sri Abdul Wahid further added that this new product was part of Maybank’s efforts to reach a broader customer base and enrich their banking experience. It also aims to entrench the Group’s retail banking franchise, for which it is already a leader in Malaysia.
“Through this concept, we are able to offer greater convenience at lower cost,” he explained. “This means we can pass this back to the customers by giving higher interest rates or savings as well as better benefits.”
He added that Maybank would also enjoy greater efficiency in offering the Maybank One Solution, through better use of technology and innovation.
“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.”
“The introduction of Maybank One Solution is in line with our mission in humanising financial services across Asia by providing easy access to financial service for the people, providing them with fair term and pricing and to be in the heart of the community at all time,” he further explained. “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.”
Maybank One Solution has already been piloted over the last 7 months and has seen the acquisition of over 30,000 new customers. There are currently 25 Kiosks, which will be further increased to 33 by end 2012.
By 2013, the Bank aims to add another 45 new kiosks. In addition, in early 2013, Maybank One Solution will offer Islamic banking products, thereby increasing the choices available to customers.