Mr-Ronnie-Lim-MD-and-Country-Head-of-Personal-Financial-Services-UOB-Malaysia,

UOB Malaysia Launches Digital Account Opening Service

UOB Malaysia announced the launch of a digital account opening service that enable customers to open a personal bank account anytime, anywhere via the Bank’s all-in-one mobile banking app, UOB Mighty. Through the app, customers can now embark on their financial journey with the Bank in just 10 minutes, reducing the average time it typically takes to open an account in person by up to 60 per cent.

Mr Ronnie Lim, Managing Director and Country Head of Personal Financial Services, UOB Malaysia, said “As a bank that has served Malaysians for 70 years and counting, our focus has always been on innovating and improving our financial products and services to anticipate the needs of our customers. Our aim is for them to enjoy a seamless digital banking experience with a full suite of banking features, from account opening to performing transactions, at their fingertips any time of the day.”

According to the UOB ASEAN Consumer Sentiment Study1, more than half of the respondents preferred to open a bank account online while 67 per cent were willing to apply for a financial product via internet or mobile banking. On the top two most preferred channels to conduct banking activities during the pandemic, the study also found that mobile apps are favoured among 80 per cent of the respondents, while web browsers stood at 70 per cent.

“As part of UOB’s enhanced digital banking experience, customers will also be able to tap Mighty Insights4, an artificial intelligence (AI)-driven digital banking service on UOB Mighty. Through Mighty Insights, customers are able to keep track of their finances conveniently, helping them to manage their money better. Many of us are now using our smartphones to conduct daily errands because of the convenience and speed that it offers. Similarly, with Mighty Insights, we harnessed technology to anticipate our customers’ banking needs and to offer them the most suitable financial solutions to help them save and spend wisely,” Mr Lim said.

At launch, the Bank is offering customers bonus interest5 of up to 6.68 per cent per annum upon opening a savings account6 via the UOB Mighty app. In addition, the customers will receive Shopee e-vouchers up to RM248 when they apply and spend with UOB debit or credit cards

(This content is surmised from a press release)