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CIMB Niaga allocates Rp 2 trillion to boost digital banking
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A CIMB Niaga Syariah teller serves a customer. (File/CIMB Niaga Syariah)
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rivate lender CIMB Niaga plans to spend Rp 2 trillion (US$150 million) this year on information technology (IT) as part of its strategy to boost the bank’s digital banking services.
Upgrading its IT system will enable the bank to boost its digital banking services carried out through Internet-based transactions and its ATM network, CIMB Niaga’s strategy and finance director Wan Razly Abdullah said recently.
Last year, digital transactions accounted for 90 percent of the bank’s overall transactions, he said, adding that in 2016 the number of users of digital services reached about 2 million, or 40 percent of its 5 million customers.
“We want to build an interactive system for clients so we can sell more products with digital services,” Wan said during the launch of integrated telesales, phone banking and video banking services.
(Read also: CIMB Niaga eyes consumer, SME loans after issuing bonds)
The bank, part of CIMB Malaysia, also plans to reduce its physical branches and use more IT-based services to expand the outreach of the bank’s services. As of September 2016, the bank had reduced the number of its branches to 528 from 553.
“By reducing the number of physical branches, we expect to perform more efficiently in 2017,” Wan said. (ecn/bbn)
