Maybank today unveiled its one-stop online financial portal, a first in Malaysia, which provides customers the convenience of banking through the internet from anywhere in the world.

The new service, accessed through www.maybank2u.com was launched by the Governor of Bank Negara Malaysia, Dato' Dr Zeti Akhtar Aziz.

This service enables customers to conduct a host of financial services through the internet. These include opening of account, balance enquiry, funds transfers, cheque status enquiry, stop payment of cheque, bill payment, online stock investment, insurance application and renewal, online shopping and electronic procurement (business-to-business transactions).

In addition, Maybank2u offers the investing public on-line stock information, news feeds from Bernama and Reuters as well as financial planning tools and information. The information and interactive service on Maybank2u is available 24 hours a day. The online transaction service is currently available from 6.00am to 12.00 midnight and will be extended to 24 hours a day by the end of the year.

Speaking at the launching of Maybank2u, Chairman Tan Sri Mohamed Basir bin Ahmad said that the introduction of the new service underlined Maybank's commitment to push the limits of technology to enhance the reach and quality of its service to customers.

"In the new economy, where competition is global, we are aware of the need to provide a variety of channels for customers to interact with us," said Tan Sri Basir. "This new internet service now further complements the wide range of electronic delivery channels that the Maybank Group has invested in, which include ATMs, phone banking, cash deposit machines, cheque deposit machines, passbook update machines and desktop banking."

Tan Sri Basir added that the introduction of Maybank2u will enable the bank to further carry its brand name beyond the shores of Malaysia. "This global visibility will strengthen our presence overseas enabling our branches there to target new customers as well as enabling us to serve our customers residing overseas," he explained.

He said that Maybank2u online financial portal offers a safe and secure means of transaction as the bank has deployed robust internet security technology with the assistance of security experts as well as emplaced an appropriate set of procedures and controls.

For greater security, the Maybank2u new system uses the latest 128 bit SSL technology. As such, customers would require the Internet Explorer Version 5.01 or Netscape Navigator Version 4.73 together with the high encryption pack, to perform online transactions. These browser versions are freely available to be downloaded through the internet.

This is not the first time Maybank has introduced online services to its customers. In 1998, Maybank launched Kawanku Online, a service that offers the convenience of conducting banking and share trading online via a personal computer, on a proprietary mode. In the same year, Maybank was also one of the pioneer banks to offer the Secure Electronic Transaction (SET) payment gateway to our credit cardholders to make payments for purchases through the internet.

"Our Maybank2u portal now incorporates these features, thereby making it a truly one-stop online financial services site," said Tan Sri Basir.

In conjunction with the launch of Maybank2u, the bank also announced the introduction of i-Account, a unique online deposit account that pays interest based on fixed deposit rates and allows a customer to view his/her statement online. With a minimum initial deposit of RM500, the i-Account offers interest calculated daily and paid monthly, optional cheque book facilities, as well as free personal accident insurance converage of up to RM50,000. Applications to open the account can be made via the internet.

Maybank2u promises fast, convenient and safe banking for the busy individual, making every moment count in his/her daily life. More financial services will be offered progressively through this portal, while access to accounts maintained in other Maybank locations overseas will be made available as soon as local regulatory approvals are obtained.

Maybank's technology partners for its internet financial services portal are Sun Microsystem, Finesse Alliance International Ptd. Ltd and Automatic Identification Technology Sdn Bhd.

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