Tag: Maybank

Kuala Lumpur, Malaysia – Maybank has announced a collaboration with TikTok Shop to launch a multi-market upskilling and digitalisation programme for small and medium enterprises (SMEs) in the ASEAN region. 

Said initiative marks the first partnership of its kind between a financial institution and TikTok Shop, aiming to empower SMEs with the knowledge, skills, and tools needed to transition beyond traditional brick-and-mortar models and drive business growth in the digital landscape.

The ASEAN SME Upskilling & Digitalisation Programme will begin with a pilot phase in Malaysia, featuring three key components: a webinar, a workshop, and an accelerator programme. Entrepreneurs participating in the accelerator phase will receive six months of tailored mentoring and coaching from both TikTok Shop and Maybank, with personalised business targets to support their expansion. 

The initial cohort will place a special focus on women entrepreneurs, in line with Maybank’s ongoing HERpower initiative. Over the next year, the programme is expected to expand to select ASEAN markets, with customised approaches tailored to local business environments.

Syed Ahmad Taufik Albar, group CEO of community financial services at Maybank, said that this collaboration is a reflection of Maybank’s commitment to champion SMEs in line with its M25+ strategy of purpose driven banking and beyond banking social impact programmes. Participants in this programme will gain valuable first-hand experience in leveraging content-driven e-commerce, digitalisation solutions, and optimised account management techniques.

“We believe entrepreneurs have the potential to create sustainable and lasting ripple effects to the communities they serve. By providing a holistic, values-driven ecosystem of solutions beyond traditional banking services, we hope to support and future-proof businesses at every stage of growth to be their own agents of change. We also aspire to collaborate with industry leaders who share a similar vision, and together create a multiplier effect in uplifting entrepreneurs in the region,” Taufik Albar said.

Meanwhile, Steven Li, senior director of global e-commerce strategy at TikTok Shop, shared his enthusiasm about the collaboration, commenting, “We are delighted to collaborate with Maybank to accelerate the growth of SMEs in Southeast Asia. It is a meaningful programme that showcases how collaborative industry efforts can drive real-life impact for small businesses in the region’s rapidly growing digital economy,” he said.

Lastly, Nur Azre Abdul Aziz, director of strategic partnerships at TikTok Shop Malaysia, stated, “We are thrilled to pilot this programme in Malaysia, which aims to empower women entrepreneurs with the resources and knowledge to thrive on TikTok Shop, in line with the nation’s effort to promote inclusive economic growth.”

Kuala Lumpur, Malaysia – Bank Negara Malaysia (BNM), the country’s central bank, has imposed monetary penalties to CIMB and Maybank as well as its Islamic banking arms over unplanned downtimes, a violation of the Financial Services Act 2013 and Islamic Financial Services Act 2013.

Maybank paid a total of RM4,320,000 for the fine imposed, while CIMB paid a total of RM760,000 in fines. 

BNM notes that between 1 June 2023 and 31 May 2024, Maybank’s regional mobile banking platform (RMBP) and MAE applications experienced multiple unplanned downtime that caused prolonged disruptions in several banking services interface with customers and counterparties. Meanwhile, on 8 and 9 April 2024, CIMB’s customers experienced prolonged service disruptions affecting e-banking channels, automated teller machines (ATM), as well as debit cards and credit cards.

“BNM expects all financial institutions to maintain a high level of their technology resilience against operational disruptions to ensure the continuous availability of essential financial services. BNM will not hesitate to take appropriate supervisory and enforcement actions when financial institutions fall short of regulatory expectations,” BNM stated in both of their advisories to both banks.

CIMB has taken the necessary remediation actions, including enhancing its real-time IT infrastructure monitoring function to further improve its recovery capabilities and prevent future non-compliance. Meanwhile, Maybank has taken the necessary actions to close these gaps as part of its multi-year infrastructure investments to prevent future non-compliance.

Hong Kong – Maybank has extended its partnership with FC Barcelona until 2027, continuing as the club’s official bank in Malaysia and Singapore, a role it has held since their initial agreement in 2017.

The renewed partnership represents a major boost for both parties: FC Barcelona will use Maybank to strengthen its foothold in Asia’s vast market, while Maybank will capitalise on the club’s extensive reach to enhance its presence and drive customer engagement.

As part of the renewal, Maybank will maintain its promotion of FC Barcelona debit and credit cards in Malaysia and Singapore and will continue offering exclusive campaigns such as Spend & Score, featuring challenges and prize draws that have previously allowed clients to travel to Barcelona and meet Barça Legends.

Juli Guiu, vice president of the FC Barcelona marketing area, said, “We are proud to extend the collaboration between FC Barcelona and Maybank to provide new services and Barça experiences for our fans in Malaysia and Singapore as Barça Official Bank in both markets. Asia is a strategic region for club expansion, with hundreds of thousands of passionate fans eager for new and innovative ways to have a closer relationship with us, and Maybank initiatives are a perfect fit for all of them. We look forward to continuing to work together in this extended relationship.”.

Meanwhile, Syed Ahmad Taufik Albar, group CEO for Community Financial Services of Maybank, shared, “We are thrilled to announce the continuation of our successful partnership with FC Barcelona. This collaboration marks the commitment to delivering exceptional value and experiences to our customers. Over the past years, we have launched numerous marketing campaigns, activations, and exclusive deals that resonated deeply with Malaysian and Singaporean Culers. This renewed partnership promises to bring even more innovative and engaging initiatives that will delight fans and strengthen our bond with one of the world’s most iconic football clubs.” 

“FC Barcelona holds a special place in the hearts of football enthusiasts in Malaysia and Singapore, and our collaboration with the club underscores our dedication to enhancing our customer-centric experiences. As one of the top football clubs in these regions, FC Barcelona’s popularity provides a unique platform for us to connect with our customers in meaningful ways. We look forward to another three years of shared success and unforgettable football moments,” he added. 

Maybank boasts over 14 million cardmembers across Malaysia and Singapore, including more than 600,000 FC Barcelona Visa debit and credit cardholders, highlighting the strong bond Maybank has established with football fans in the region.

Malaysia – Maybank’s Chinese New Year film, “Unspoken Connections,” sheds light on the deaf community’s unique experience of honouring one of the world’s most vibrant, loud, and happy events. The film digs into their perspective in a peaceful setting, emphasising the critical role of sign language in overcoming silence for them.

The film, starring Lim Bee Chin in the lead role and co-directed by Barney Chua and Pan Wai Ling, was created in association with Grey Singapore and the production company Mojo Films. 

Pan Wai Ling and Bee Ching, two members of the deaf community, portray an honest and personal picture of their daily lives in the campaign. The film’s core offers viewers the opportunity to immerse themselves in the deaf community’s experiences, promoting a deeper comprehension of their reality. 

For the production company behind the movie, this project went outside of traditional narrative and became a life-changing investigation of empathy and discovery. They experienced an emotional rollercoaster from the beginning of filming to the intense ending, overcoming communication barriers and gaining new insight into the challenges faced by the deaf population. 

The team planned to actively engage with and comprehend the deaf community in advance of the project. The first conversations revealed perspectives on the deaf community’s experience in Malaysia, highlighting important topics, especially during Chinese New Year. 

Pan Wai Ling and other deaf cast members and staff members led the production without a script, working together with the larger team. The resultant video closely reflects their actual experiences.

Speaking about the campaign, Barney Chua, director of Mojo Films, said, “Collaborating with the hearing-impaired community is familiar territory for my team. Over time, we’ve developed strong connections through various projects. That’s why I approached Wai Ling to co-direct this project. Her fearlessness and intelligence, evident from our previous encounter, made a lasting impression. She brought a wealth of creative ideas to the set, affirming my belief in her potential as an excellent director.” 

Meanwhile, Pan Wai Ling, co-director of Maybank’s CNY film, stated, “My hope with this film is that it not only showcases the experiences within the deaf community but also underscores the importance of sign language. It’s more than just a mode of communication for us; it’s a lifeline, a bridge that connects us to the world around us.” 

Graham Drew, CCO of Grey Singapore, commented, “According to scientific research, non-verbal communication accounts for 70-80% of our daily interactions. We don’t realise, but we all speak in ‘signs’ every day, suggesting that learning sign language may be easier than we think. It’s time we recognise and embrace this natural aptitude so we can foster a more inclusive society for the deaf community.” 

Furthermore, Shazlina Binti Mohd Suffian, EVP & head of Group Corporate Marketing of Maybank Malaysia, added, “The deaf community holds immense potential and talent, yet often faces barriers to fully realising their capabilities. At Maybank, we have been working closely with them by offering training and support, empowering them to succeed on their own terms. We hope that this film will serve as a catalyst for greater awareness, inclusivity, and support for the deaf community.” 

Singapore – Maybank Singapore has announced its appointment of advertising agency Arena Media Singapore as its media agency of record. The appointment takes effect immediately.

Following the appointment, Arena Media Singapore will be spearheading Maybank Singapore’s integrated and digital media planning and buying strategies, aiming to enhance brand presence and facilitate meaningful consumer engagement. 

Leroy Lim, general manager of Arena Media Singapore, expressed his team’s excitement on the collaboration with Maybank Singapore. 

“Our team is eager to leverage our digital expertise to support Maybank’s efforts in forging greater consumer connections, and broadening their reach in the local market,” he added.
 
Maybank Singapore’s appointment serves as another addition to Arena Media’s list of clients, as the agency also currently serves as the media agency of record in Singapore for AIA, Dolce and Gabbana, Inchcape, Kaplan, Moomoo, and Far East Organization.

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.

Singapore – ‘Start Digital’, a digital initiative started by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore for SME support, is refreshing their existing digital solutions in order to provide newly incorporated SMEs or those that have yet to digitize with foundational and easy-to-deploy digital solutions.

Initially launched in January 2019, the Start Digital program has helped more than 30,000 SMEs to adopt various digital transformation strategies for their businesses, known collectively as the ‘Start Digital Pack’. These solutions are offered across six partners, namely financial institutions DBS, Maybank, OCBC, and UOB, as well as telco Singtel and M1.

Start Digital is offering three new and enhanced categories:

  • Digital Collaboration – These enable employees to work from home or any other convenient locations. Examples include Microsoft 365 and Google Workspace.
  • Digital Marketing – Tools that provide SMEs with templates to create social media ads and manage their digital ad buys and placements on a single platform. This allows SMEs to easily manage targeted digital marketing campaigns and reach out to consumers on social media.
  • Digital Transactions – InvoiceNow-linked solutions offered by bank partners are integrated with e-payment including PayNow Corporate to enable SMEs to generate/receive e-invoices through InvoiceNow and receive/make e-payments seamlessly. These solutions help SMEs improve transaction accuracy and administrative productivity. Both e-invoicing and e-payments are part of digital utilities which IMDA is putting in place as baseline infrastructure for the digital economy. Similar to their physical counterparts, digital utilities provide common standards and ease of transactions for businesses. 

Start Digital initially included accounting, human resource management system and payroll, digital marketing, digital transactions and cybersecurity solutions. 

“Based on feedback from SMEs and Start Digital partners, IMDA and Enterprise Singapore are enhancing Start Digital to include new solutions that will enable SMEs to collaborate seamlessly with internal and external parties, and gain new customers,” according to a factsheet released by IMDA and Enterprise Singapore.

Both institutions have been proactive in driving support for SMEs and startups based on digital transformation strategies. Earlier this year, Enterprise Singapore supported the launch of the PlanetSpark Innovation Centre to focus on tech startups seeking to deploy artificial intelligence of things (AIoT) to the market.