Business

Malaysian bank launches mobile banking app

Malaysia’s CIMB Bank launched in Vietnam a mobile banking app, OCTO, its first in any market, on December 4.
Malaysian bank launches mobile banking app ảnh 1Malaysian-owned CIMB Bank opens a branch in HCM City on December 4 (Photo: VNA)
HCMCity (VNA) - Malaysia’s CIMB Bank launched in Vietnam a mobile banking app,OCTO, its first in any market, on December 4.

It could be used to fulfill a range of banking needs from registration,verification to card activation and making transactions on the phone, avoidingthe need to queue at branches or struggle to find a convenient time, the banksaid.

“Vietnam is one of the most inspirational success stories in Asia, with strongeconomic growth and tremendous potential for development,” Tengku Dato’ SriZafrul Aziz, Group CEO of CIMB Group, said.

At the same time, digital banking is an inevitable trend with the advancementof technology, he said.

“Itwill help banks reduce their cost-to-income ratio from 50 percent to 20 percentor 30 percent. Developing digital banking is a key strategy for CIMB inSoutheast Asia and Vietnam is our first pilot market.”

The bank said in the next five years it would focus on improving the app byenhancing users’ experience and connecting with Vietnamese partners to enhancethe eco-system of financial services for Vietnamese consumers.

Also on December 4, CIMB opened a branch on Hai Ba Trung street in HCM City’sDistrict 3.

On the occasion of launching the app and opening the branch, the bank isoffering many promotion programmes.-VNA
VNA
#Malaysia’s CIMB Bank #mobile banking app #digital banking #Vietnamese consumers #vietnamplus #Vietnam News Agency Malaysia
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