The Association of Banks in Malaysia’s Post

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A discussion on the existing payment ‘pain points’ and ‘frictions’, where innovation has helped and will help, what is needed for Malaysia to continue to provide solutions and where we succeeded and what learning points can we gather from the failures. Watch live stream here: https://lnkd.in/dsMn_ikR #PayNet #PayNetDigitalPaymentsWeek

As Malaysia embraces digital finance, Raja Teh Maimunah, CEO of AEON Bank, discussed the heritage and strategies that are shaping the country’s first Shariah-compliant digital bank. It is also one of just five digital banks awarded a licence by the regulator. With a focus on Generation Z and Alpha customers, and small businesses, AEON Bank is poised to redefine banking in a nation steeped in AEON Group’s 40-year legacy. Raja Teh is focused on blending technology with traditional banking, promising a new era of digital financial services tailored to the digitally-savvy who remain economically and financially underserved. Generation Z, born between 1997 and 2012, and the emerging Alpha segment, born between 2010 and 2024, are presenting a fundamental shift in banking needs and behaviours. Unlike their predecessors, the customers in the younger demographics are digital natives. Raja Teh observed: “They want to bank with and have a banking experience that is totally different from what their parents have.” This understanding informs AEON Bank’s strategy to deliver a banking experience that is not only intuitive but seamlessly integrated into digital lifestyles. “We’re not just creating a bank; we’re creating a lifestyle enabler,” she added. The Group’s 40-year presence in Malaysia has given it a robust foundation for the new digital bank. Its legacy of robust retail growth and sticky customers is a cornerstone of its market strategy; the long-standing relationships with Malaysians give it a unique advantage in understanding and meeting their needs in a digital context. Look out for more details of this interview on theasianbanker.com Sheila Ibrahim, Ajith Jayaram, Naoto Nomura, Izmauddin Burhanuddin, Nurul Fareha Foo Boon Ping 胡文彬, Jerome Ong, TAB Global #AEONBank #ShariahCompliant #DigitalFinance #GenerationZ #AlphaSegment #DigitalTransformation #SmallBusinesses #FinancialInclusion #DigitalLifestyle #SMEFinance #CustomerExperience #BranchlessBanking #FintechInnovation #DigitalPayments #FutureofBanking