AmBank (M) Bhd expects its collective online transactions and value, that currently has to RM900 million per month, to double by the end of the year.
Group chief executive officer Datuk Sulaiman Mohd Tahir said optimistic target is backed by the bank’s enhanced internet banking platform, AmOnline.
“As of right now, we saw an increase of 63 and 24 per cent in transactions and value respectively since the launch of AmOnline and its mobile counterpart last October,” he said at the official launch here today.
“Collectively this amounts to some RM900 million per month. We are hoping to double that value by the end of this year and we could do that by acquiring more customers.”
Sulaiman shared that since the launch, the bank have seen its digital customer base growing from some 300,000 to some 500,000.
“We are hopeful to hit a total of one million online customers by the end of the year,” said Sulaiman, adding that AmBank has an estimated 2.5 to three million active customers.
“We have noted that about 50 per cent of daily transactions comes from app or smartphones so this is also a space that we are paying attention to.”
The group has also allocated an investment of RM50 million, that will be deployed as and when it rolls out new features on the platform.
Sulaiman said the new enhanced AmOnline is in line with the bank’s ongoing Top 4 Strategy to end in 2020. One of the verticals in the Top 4 is to become the digital bank of choice.
When asked, Sulaiman said the potential downsizing of its 174 network of branches nationwide is something that’s on the cards.
“Yes, we have look at the option of reconfiguring our branches as we move towards the digital and financial technology (fintech) space,” he said without divulging a timeline.
“It is however the way this industry is going towards. As we become more digitised, the need for brick and mortar has lessens and we will slowly further facilitate this new mode of interaction with customers.”
https://www.nst.com.my/business/2018/04/356897/ambank-targets-rm900m-collective-online-transaction-2018