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PNB & Maybank team up to support ASNB investments via digital channels

18 December 2018

4 min read

Permodalan Nasional Berhad (PNB) and Maybank today announced the launch of two new services to provide enhanced convenience and accessibility for ASNB customers to make investments via digital channels.

The first is the availability of investing in ASNB units via Maybank2u in real time, while the second is investing in ASNB via ATMs, also available now in real time.

With this launch, Maybank becomes the first bank in Malaysia to offer real-time viewing and top-up of customers ASNB accounts via its online banking and mobile platforms as well as its network of 2,700 ATMS and Self-Service Terminals around the country. In addition, it is the first to enable customers to view their ASNB account balances and history of last five transactions (including dividends and transfers) instantly via M2U.

The new services were launched jointly by PNB President & Group Chief Executive, Dato’ Abdul Rahman Ahmad and Maybank Group President & CEO, Datuk Abdul Farid Alias. It was witnessed by ASNB CEO & Executive Director, Mohammad Hussin, Maybank Group CEO, Community Financial Services (CFS), Dato’ John Chong and Maybank’s Head of CFS Malaysia, Datuk Hamirullah Boorhan.

Speaking at the launch, Datuk Hamirullah said that as a leader in digital banking, Maybank was constantly looking to leverage its digital capabilities to ensure that customers were able to enjoy the benefits in terms of convenience and seamless transactions, not just for banking but increasingly also for investments.

“We are aware that ASNB investments are popular among the public, given the increasing awareness by customers of the importance of investing for the future. Realising that many people live busy lifestyles these days, we believe that there
are a lot of untapped opportunities where we can offer them the convenience of undertaking their financial planning and investments via digital channels.”

Added Datuk Hamirullah, “Currently over three million ASNB transactions are conducted over our counters a year, of which around one million comprise deposits transactions. We are pleased to have worked with ASNB to come up with a solution
in which deposit transactions are able to be done on our digital platforms, well beyond banking hours. We expect that some 50% of these deposit transactions will move to our digital platforms, and that we will see some 20% increase in ASNB
investments with the new service launched today.”

Datuk Hamirullah said that while the new services are available on the desktop version of Maybank2u, it will be extended to the Maybank app by end of December 2018 so that customers will be able to enjoy even greater convenience and
undertake their ASNB transactions on-the-go.

Meanwhile, Mohammad said ASNB is extremely delighted that Maybank has offered its Maybank2u platform to enable Maybank customers to perform transactions of ASNB products in ‘real time’.

“With this new enhancement, we hope that we are able to fully meet the demands of our unit holders, where their units could be transacted faster, safer and effectively, irrespective of their whereabouts,” he said. He added that the new
enhancement by Maybank complements the myASNB portal launched February last year, which enables unit holders to check their latest investment balance, retrieve annual statements, update personal information, manage minor/children’s
investment and increase their investments.

In addition to the two new services, ASNB and Maybank also announced that by end of December 2018, SMEs will be able transfer funds on behalf of their employees to ASNB via M2U Biz. This service will also be made available via M2E by March 2019. It will enable companies to support their employees in their financial planning efforts by undertaking the transfers online via the business banking channels with Maybank.

Another new feature that will provide greater convenience to retail customers is the ability to apply for an ASB loan via Maybank2u. This will be made available by first quarter of 2019.

“Our aim is to support individuals in better preparing for the future financial needs by enabling them or their employers to make their ASNB investments or monitor their personal accounts conveniently online and in real-time,” said Datuk
Hamirullah. “At the same time, we are helping to promote electronic transfers in line with the government’s efforts to create a cashless society.”

Mohammad added that this initiative is also in line with the Financial Sector Blueprint, which encourages the use of e-channels as a more viable investment alternative to cheques. This will provide convenient access points across the
country to enable those who wish to migrate to cashless banking services.

“Today, ASNB has 14 unit trust funds and manages 235.96 billion units in circulation owned by more than 13.74 million account holders. We are confident that together with the availability of these ASNB e-Channels via Maybank platform
will make it a lot easier for our unit holders to transact with us, and contribute to our growth together,” he added.

The new services via Maybank2u and ATMs allow transactions to be done from 7am to 7pm from Sunday to Friday (except Saturdays and public holidays).