PNB and Maybank launch digital platform for customers
According to a recent report, Permodalan Nasional Bhd (PNB) – a Malaysian government-linked investment company – and Malayan Banking Bhd (Maybank) expect to see 20% increase in ASNB investments next year with the launch of ASNB e-channels via Maybank’s digital platform recently.
Speaking at the launch ceremony, Maybank’s head of community financial services said that currently, over three million ASNB transactions are conducted over the bank’s counters a year, of which around one million comprise deposits transactions.
He noted that the firms expect some 50% of these deposit transactions will move to the digital platforms. It was also noted that the new services will be extended to the Maybank app by end of this year.
In addition to the new services, ASNB and Maybank also announced that by end of this year, small and medium enterprises (SMEs) will be able to transfer funds on behalf of their employees to ASNB via M2U Biz.
Another new feature that will provide greater convenience to retail customers is the ability to apply for an ASNB loan via M2U, which will be made available by the first quarter of 2019, it was noted.
To date, ASNB has 14 unit trust funds and manages 235.96 billion units in circulation owned by more than 13.74 million account holders.
Meanwhile, Maybank’s group president and CEO said that the bank is slightly more optimistic on its 2019 outlook as it sees Malaysia’s economy growing at 4.9% next year compared to its 4.8% projection for 2018.
It was noted that 2019 is going to be another interesting year. It will be slightly better than 2018 as the firm is quite optimistic about its outlook.
The CEO also noted that while there is concern on how the trade numbers will perform going forward due to US-China discussions, he sees that Malaysia is in a comfortable position, noting it could probably see a slightly faster growth compared to 2018.
It was noted that there is to be an FOMC (Federal Open Market Committee) is meeting soon wherein interest rates and dollar rates moving up bit by bit is expected to be seen. However, people will be able to allocate risks into their investments accordingly, he added.
Additionally, the CEO noted that the growth for this year was within the bank’s expectations.
It was noted that the bank’s growth is relative to the growth of the economies where it has a presence including Malaysia, Singapore and Indonesia.
According to another report, ASNB customers can top up their investments via digital channels following a tie-up between Permodalan Nasional Bhd (PNB) and Malayan Banking Bhd.
Reiterating the aforementioned information, the two new services, which were launched recently, enable their customers to top up their ASNB units via the Maybank2u portal and also at Maybank’s automated teller machines (ATMs), both of which can be executed in real time.