Wednesday July 4, 2012
Beefing up for mobile banking
By DALJIT DHESI
PETALING JAYA: Banks are stepping up initiatives and making key investments in mobile banking in line with the industry's participation in this digital banking channel by the middle of next year.
HSBC Bank Malaysia Bhd head of retail banking and wealth management Lim Eng Seong said competition in mobile banking would intensify as customers were getting more demanding.
“Malaysia has one of the highest mobile penetration in South-East Asia with an estimated 81% of its population owning mobile devices. Many banks recognise this and are making key investments into their technology spend to ensure that mobile banking is part of the channel offering,” he told StarBiz.
While security was a key issue as many customers were wary of phishing, online sca ms and hacking, he said education was needed in recruiting new users.
Malayan Banking Bhd (Maybank) head of community financial services Lim Hong Tat pointed out that Maybank2u's Mobile Banking user base had experienced 463% growth from De cember 2010 to December 2011.
OCBC Bank (M) Bhd head of e-business and digital marketing Roy Heong said that a comprehensive suite of services and interaction across all channels were important as customer c hose to deal with banks on multip le channels.