Standard Chartered sees 100% growth in mobile banking
Bags 'Best Consumer Internet Bank' title in Malaysia & 'Best Mobile
Banking' title in Asia
KUALA LUMPUR, 10 Sep 2014
–Standard Chartered Bank (SCB), Malaysia's first bank, saw active users of its Breeze mobile banking app double in 2013 and is expected to grow a further 50% this year.
Available for both Android and iOS, the app has been downloaded 114,000 times since its introduction in Malaysia in 2010. It allows users to view balances, perform transactions, and locate nearest ATMs and branches on-the-go.
A new feature has been added this month that allows users to make instant transfers to other banks. This is expected to drive transaction volume by 30%.
Adam Grabarczyk, Head of Digital Banking, Standard Chartered Bank Malaysia, said: "Our customers value the convenience, speed and simplicity that our digital platforms provide. They expect the same technological innovation and user-friendly interface that they experience in other areas of their lives."
"With the availability of technologies such as near field communications (NFC) in the latest smartphones, we foresee mobile banking gaining acceptance in Malaysia, and new services such as mobile wallets will emerge," he added.
According to the latest Bank Negara Malaysia statistics, as at end of June 2014 there are 16.6 million internet banking subscribers, which represents 55% of the population. Mobile banking subscribers number 5.1 million representing 16.9% of the population and 11.8% of mobile subscribers.
Registered internet banking users represent 74% of SCB Malaysia's retail customers. The bank saw a 37% growth in payment volume through online banking and Breeze, boosted by its move to waive Interbank Giro (IBG) fees.
A leader in the digitisation of banking, Standard Chartered was recently named 'BestConsumer Internet Bank' by Global Finance magazine in 19 countries including Malaysia.
Besides the country titles, the bank also bagged five sub-category awards in Asia Pacific for Best Integrated Consumer Bank Site, Best Bill Payment & Presentment, Best Mobile Banking, Best Social Media and Best Information Security Initiative.
The world winner will be announced in a ceremony in New York in October. Standard Chartered will be defending the title which it has held for the past three years.