Maybank has launched MAE by Maybank2u, a new app built with a unique ecosystem designed to help Malaysians take charge of their everyday money matters, beyond their regular banking needs.
The introduction of the MAE app reaffirms the Bank’s commitment in offering next-generation experience to its customers as it gives a refreshing take on a banking app and further lifts the Group’s offerings in digital banking.
Maybank’s Group President and Chief Executive Officer, Abdul Farid Alias said, “Imagine it to be a pocketable digital bank but with many cool features to help you take control of your money. The app contains the existing features within Maybank2u to help with your daily needs such as paying bills and fund transfers; but we have also introduced new tools to help customers track their spending while encouraging them to save too.”
The slew of new features within MAE by Maybank2u are also part of the bank’s efforts to enable customers to manage their finances responsibly and in a more comprehensive manner.
To help customers understand their spending habits better, Maybank has created a brand new tool called Expenses which provides a single, holistic view of everything spent across Maybank accounts, cards, and QR transactions.
These expenses are sorted into easy-to-understand categories such as Food, Utilities and Shopping to give more insights into where their money goes. Even cash transactions that are not normally captured by the app can be easily included with a few taps.
Tabung is another new feature, designed to help Maybank customers save consistently and regularly to achieve their goals. It makes saving more fun, progressive and convenient by aligning the process to their lifestyle.
There are two types of Tabung which can be created – Individual and Group. The group savings feature, the first of its kind by a Malaysian bank, allows customers to jointly save with friends or loved ones towards a goal such as an annual vacation.
To help accelerate the saving process, Maybank has also introduced new complementary features called Boosters which transform micro-spending moments into saving moments. Currently, there are three Boosters:
- Spare Change, which rounds up expenses and transfers the balance into Tabung;
- Scan & Save, which credits savings earned from promotions used during QR transactions;
- Guilty Pleasure, which allows you to set a daily spending limit in any category of your choice and an amount to be credited into your Tabung if the limit is exceeded.
For day-to-day spending, Maybank has introduced the all-new MAE Visa Debit card which complements the MAE wallet. It comes with a host of benefits including competitive foreign exchange rates and exclusive perks to enjoy locally and abroad. Customers can apply for the debit card via the MAE app and it will be delivered directly to their doorsteps.
When traveling is safe again, the amount in the MAE wallet will auto convert to the country where the customer is in, which will help customers know exactly how much is available for spending.
Besides the money tools, MAE by Maybank2u also has a new feature called the Makan Mana wheel which helps to recommend dining options while allowing Maybank customers to enjoy promotions from thousands of its partner merchants all across the country.
Farid added that leveraging technology to improve our customers’ experience is at the core of everything the Bank does.
“Our ambition is for MAE by Maybank2u app to be our customers’ trusted companion that improves the ways they spend and save while delivering a revolutionary user experience that we hope will delight them. We want to turn their dealing with money, which can be stressful, into convenient and pleasant experiences.”
The MAE by Maybank2u app is available for download from Google Play Store and Apple AppStore. Existing Maybank customers are only required to undergo a simple security set-up, after which they can start using the app immediately and seamlessly, with the data from all their Maybank accounts automatically made available in the new app.
For the time-being, both the MAE and Maybank2u app will continue to co-exist, with the Maybank2u app embedded within the MAE as well.
Non-Maybank customers are able to conveniently open a MAE wallet via the app and complete the application without having to visit a branch. Once the application is successful, they may start using the app, and have access to all the banking features and money tools within.
“We are confident that the MAE by Maybank2u app will be well received by our customers and Malaysians in general. We are expecting 3 million downloads of the app in the next 12 months,” Farid said, further adding that the bank plans on bringing the 10 million users from the Maybank2u app over to the MAE app.
The MAE app currently has more than 1.8 million customers.
More information on the app can be obtained from www.maybank2u.com.my/mae.