Business

Wednesday November 18, 2009

Bank Simpanan starting Net banking

By DALJIT DHESI


But the bank isn’t the last to introduce such service, says chief executive

KUALA LUMPUR: Bank Simpanan Nasional Bhd (BSN) will finally launch its Internet banking service in the first quarter next year but it insists that it is not the last local bank to do so.

General manager and chief executive Datuk Adinan Maning said: “We are not the last bank to introduce Internet banking as there are others who have yet to launch theirs.

“The reason for the delay is that we needed to put the proper infrastructure in place and we have done it and the bank feels now is the right time to launch the service.”

Adinan was speaking to reporters after a signing ceremony here yesterday between BSN and technology providers Cyber Village Sdn Bhd and IBM Malaysia. The service will be offered via myBSN.com.my.

Datuk Adinan Maning (2nd from left) exchanging documents with Cyber Village Ebusiness director Sua Shii Huey. With them are IBM Malaysia managing director Ou Shian Waei (left) and Norazian Ahmad Tajuddin.

Deputy chief executive for consumer banking and business development Norazian Ahmad Tajuddin said another reason for the delay was that the bank believed customers’ expectations for the service was not there, in addition to security issues.

She reiterated that the time was now right as the younger segment of the population had grown tremendously over the last few years for the bank to target as its Internet banking customers.

The target age group, Norazian said, was primarily between 15 and 45.

She said BSN was eyeing to capture at least 10% of its current 7.5 million customers in the first year of the service launch.

Adinan said the bank had invested about RM5mil in the online service and would soon extend it to include submission of loan applications.

Plans are also under way to set up Internet kiosks at strategic locations, comprising mainly state (main) and zone branches, over the next six months.

To date, the bank has 376 branches nationwide. With this service, it hopes to reduce operational costs by optimising internal systems and processes and reducing over-the-counter transactions.

On BSN’s performance next year, Adinan said: “It will be another exciting and challenging year. It will be a challenge to increase profits but we hope to achieve our targets.”

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