Maybank Knows Your Goals

Following a research showing that about 40% of Malaysians do not plan ahead financially, Maybank, one of the largest banks in Southeast Asia, has introduced new digital financial planning tools to help customers plan their savings, monitor their insurance and keep up-to-date on their financial goals, via its online platform Maybank2u, which has around 10.9m registered users.

The Goal Savings Plan feature allows customers to segment their money into ‘goals’ without having to create separate accounts. Customers can create up to five goals and set a fixed monthly contribution. Once a goal is created, the prescribed amount will be debited from their principal account and credited into their Goal Savings account(s) based on the duration opted for. The Spending Tracker feature allows customers to track and manage spending from their debit and credit card. The Insurance Dashboard allows customers to view their purchased insurance policies from Etiqa, the insurance arm of Maybank, along with buying additional insurance and investment plans from Etiqa via Maybank2u.

“The introduction of the new features are a natural extension of our commitment in creating services that put our customers’ needs first. It is an ambitious but simple objective of wanting to create the most user-centric and friendly financial platform for our customers. The financial planning tools aim to help customers visualize where they are financially; giving them valuable data of their spending at a glance. These smart features enable them to make informed decision on how they can manage their funds efficiently, so that they are able to plan and prepare for a better future by fulfilling their dream goals. Since the pilot launch of the Goal Savings plan last month, we have seen over 4,500 goals created with over RM31.5 million targeted to be saved . We forecast that the numbers will increase by 100% by year end.” – Group CEO, Community Financial Services at Maybank, Dato’ John Chong.