Kuala Lumpur, Malaysia – Malaysia’s banking group Maybank has launched its newest business banking app ‘Maybank2u Biz’ which aids SMEs in their digital transformation journey, specifically in their business banking needs.
Said app was developed to cater to the needs of busy business owners, who are always on the go and managing multiple tasks. It is suitable for partnerships, private limited companies, professional firms, educational institutions, clubs, society and associations.
Some of the features include the ‘Maker-Checker’ authorization process for transactions have also been simplified for efficient on-the-go approving without compromising on transparency; and the ‘invoicing tool’ which allows business owners to create, issue, and track invoices, as well 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.
“Running a business is very complex and it is even more challenging during these extraordinary circumstances. Hence, we have designed Maybank2u Biz to be more than just a banking application, but a business companion that will help ease SMEs’ burden and empower them to drive their businesses forward. We have made it simple, because entrepreneurs should be spending more time making strategic decisions instead of managing daily operations,” said Datuk Abdul Farid Alias, group president and chief executive officer.
He also added that they believe in the power of information and have made key financial data easy to access and understand for the SMEs, further stating that client SMEs can get a full view of their accounts in Maybank on the dashboard of the application, which allows them to make quick assessments of the business’ financial health at a glance.
“At the same time, they are also able to download a year’s worth of cash flow data in spreadsheet format (CSV) on-demand, without having to wait for the traditional month-end statements. With the information, business owners can now plan ahead, make better decisions, or even spot potential red flags in their cash flow early. As with all Maybank digital solutions, security is paramount to us. We have introduced Secure2u to Maybank2u Biz to safeguard their transactions and give them peace of mind,” Datuk Farid added.
The app can be downloaded from the Google Play Store and Apple AppStore today.
Existing Maybank business customers can just download the application and log in with their Maybank2u Biz ID and password to start using it immediately and seamlessly, with the data from all their Maybank accounts automatically made available in the new application.
For non-Maybank customers, they can open a Maybank business account online via Maybank2u, with only a single trip to the branch to activate the account. Once activated, they may start using the application, and have access to all the banking features and business tools within.
“The launch of Maybank2u Biz reaffirms Maybank’s commitment to support SMEs. With its intuitive interface, easy navigation, and useful business tools, we believe Maybank2u Biz will be well received by SMEs, as Maybank currently serves 58% of the SMEs in Malaysia. This is just the first phase of the application; we will continue to enhance it and bring in more features that will help SMEs power up their businesses,” he concluded.