Maybank to replace MAE with new retail app

The new app is part of the bank's RM10 billion investment in technology over five years.

Maybank’s new app to replace MAE is intended to leapfrog current capabilities and will be developed as a single platform to serve multiple markets and countries within its regional footprint.

KUALA LUMPUR:

 Maybank plans to introduce a new retail banking application to replace its existing MAE app, as part of a broader technology investment to enhance digital capabilities and strengthen customer engagement across the region.

President and group CEO Khairussaleh Ramli said the new app is part of a RM10 billion investment in technology over five years.

He said the new app is intended to leapfrog current capabilities and will be developed as a single platform to serve multiple markets and countries within the group’s regional footprint.

“MAE is good, but there are certain capabilities that we need to put in place. We are now focused on developing for the group and the region.

“We want to build a single platform for multiple footprints and countries,” he said at a press briefing in conjunction with the launch of Roar30, Maybank’s new five-year strategy through 2030.

Khairussaleh said the plan is to build one scalable platform for individual customers that can be rolled out across the region rather than developing market-specific solutions, to improve efficiency and enhance customer experience.

He said Indonesia could be the first market for the rollout, given the importance of digital banking in the country, while Malaysia and Singapore might follow soon after.

Khairussaleh said the new app would support the group’s efforts to grow fee-based income through improved cross-selling of solutions on the retail side, while complementing transaction banking and payments capabilities on the non-retail side. - FMT