Maybank Malaysia is blazing a trail in the industry with the introduction of Apple payment solutions for faster and more secure transactions.
Maybank Malaysia has won the Best Mobile Wallet Initiative category at the 14th Annual Retail Banker International Asia Trailblazer Awards.
The award acknowledges the bank’s pioneering efforts in improving customer experience by introducing Apple payment solutions, which utilises tokenisation for faster and more secure transactions.
In addition, the new system enables customers to use face/fingerprint recognition or a passcode to authenticate transactions. Instead of sharing actual card details, the system generates a unique code, making the process safer and more convenient for Apple device users.
Maybank has also facilitated provisioning for all its cards, including debit, credit or charge, for Apple Pay. So far, the number of card provisions have surpassed initial targets since the service’s launch in August 2022. This mobile wallet initiative has enabled the lender to gain a higher volume of customers, card offerings and provisioning compared to other banks that offer Apple Pay solutions in the country.
Growing client base
Maybank is committed to integrating sustainability into its decision-making process and investing in a sustainable future while also driving its leadership position in the sustainability agenda.
Maybank introduced the Sustainable Product Framework (SPF) in September 2022, creating a uniform classification system for sustainability activities and encouraging the growth of green, social, sustainable, sustainability-linked and transition products in various sectors. To ensure stakeholders are well-informed, Maybank sets sustainability metrics and publishes reports on sustainable finance and insurance accomplishments annually. The lender also conducts internal and external validations that further ensure the quality of its reports and performance.
Prioritising financial literacy
On a more holistic note, Maybank has launched its M25+ strategy to bolster growth and solidify its position as a leading financial services provider in the region. On a mission to humanise financial services, the bank aims to:
Intensify customer centricity
Accelerate digitalisation and technological modernisation
Strengthen its business presence and position beyond Malaysia
Drive its leadership position in the the sustainability agenda
Become a global leader in Islamic banking.
In its efforts to promote financial literacy and inclusion for its stakeholders, particularly among the youth and those from underserved communities, Maybank has developed programmes to raise awareness on financial management.
The bank has also actively engaged with more than 11,000 students nationwide via its MCAMPUS financial literacy talkshow and community webinars such as the ‘Resipi Bersama Chef Saham’ programme. It further plans to establish on-campus branches to strengthen financial literacy in the younger generations.
Maybank’s mobile wallet initiative, sustainable product framework and focus on the M25+ strategy as well as its support for financial literacy all showcase the lender’s commitment to improving customer experience, promoting sustainability and driving financial inclusion.
Maybank Malaysia won the Best Mobile Wallet Initiative award at the 14th Annual Retail Banker International Asia Trailblazer Awards and received a Highly Commended mention in two other categories: Best Advance in Sustainability Practices and Best CSR Initiative – Financial Literacy.