Maybank’s Post

EMBEDDED FINANCE With Maybank’s partnership with Sime Darby which was announce in October last year, this allows consumers such as you and I to apply and check eligibility for home financing directly through the Sime Darby online booking system (OBS). This concept of allowing consumers to access financial solutions through third party platform is called Embedded Finance (EF) EF’s definition (by EY) is the integration of financial services or products, such as payments, within a nonfinancial services company’s customer value chain and offers brands the ability to shape a seamless customer experience. EF started off primarily through payment solutions such as FPX and is evolving towards giving credit to consumers with the launch of things like BNPL. Why is EF important? - It is important because consumers are interacting with a variety of digital platforms and by being “present” at the customer’s “point of need” like in this case, buying a house, it brings a much smoother customer journey. A smoother customer journey leads to better sales and stickiness to the financial institutions that drive this. This represents a big change in how bank’s distribution model works as traditionally, bank’s approach to financial services typically involves customers coming to them eg through branch. I am excited to see where this brings for Maybank! Do see the step by step instruction of how it works below and you can see the full press release here https://lnkd.in/gyhq7RRj #EmbeddedFinance #banking #fintech #Maybank

HSBC Bank Malaysia is collaborating with Bank Negara Malaysia and the Credit Counseling and Management Agency (AKPK) to assess initiatives that will help Malaysians and businesses overcome financial challenges. The bank acknowledges the difficulties faced by customers in repaying their debts and is committed to providing support tailored to their needs. HSBC urges businesses experiencing financial difficulties to reach out early for specific solutions. The Prime Minister and Finance Minister, Datuk Seri Anwar Ibrahim, has called on banks to continue offering loan repayment assistance to individuals and SMEs, emphasizing the vital role of the banking industry in driving post-pandemic economic growth. Maybank Group also expressed its support for creating a stable economic environment and plans to disburse around RM12 billion in financing to SMEs this year. Maybank has already provided repayment assistance to over 430,000 borrowers and will continue to prioritize customer support through its digital platforms and financial expertise. https://lnkd.in/gwVwdThT #growth #management #digital #finance #help #environment #bank #bankingindustry #banks

Malaysia Building Society Berhad (MBSB) revealed its new logo on 4 January 2024. MBSB’s new logo embodies the alphabet ‘M’ representing the word “Malaysia”, the first word in the Company’s name, followed by an abbreviation of MBSB. The geometric shape of the logo, emblematic of the organisation’s DNA, is refreshingly sharper with a modern feel. It signifies the Group’s commitment towards growth, strategic intent, innovation and change in a dynamic market. MBSB has been at the forefront of the nation’s financial services industry and economic development for more than 70 years. The new logo replaces the previous one that depicts a house reflecting MBSB’s role as one of the first financial institutions in the region to extend housing loans to the community. MBSB Group is a major player in Islamic banking, with a whole range of offerings from Consumer Banking, Commercial & SME Banking to Corporate & Investment Banking businesses. #MBSB #NewLogo #2024

Maybank Investment Banking Group has tapped Broadridge Financial Solutions to create and launch a Sharia-compliant SBL offering. Using Broadridge’s advanced Securities Finance and Collateral Management (SFCM) solution, the Malaysian-based organisation has managed to create and launch innovative proprietary technology for its securities borrowing and lending (SBL) business, that is set to be a hit with investors. The new Sharia-compliant platform is set to offer consumers a better customer experience, and boasts a superior cost management system through automation and straight-through processing (STP) functionalities. Tengku Ariff Azhar Tengku Mohamed, Maybank Investment Bank’s chief operating officer, said: “The combined expertise of Broadridge and Maybank IB resulted in a comprehensive end-to-end platform with trading capabilities, operational efficiency and connectivity. “This partnership enabled us to swiftly bring this product to market while adhering to the regulatory framework provided by Bursa Malaysia. We target to be the first in Malaysia to offer Sharia-compliant SBL for retail investors next year.” ‣ Source: https://lnkd.in/ehXWtmcY ‣ Join 50k other FinTech Fanatics and sign up for my daily FinTech Newsletter here: https://lnkd.in/eVNvGnDW #fintech #banks #banking #partnership #fintechindustry #fintechinnovation #financialtechnology #financialservices #fintechnews

Humanizing banking means we walk the talk.

OCBC NISP Acquires Bank Commonwealth for Rp 2.2 Trillion. PT Bank OCBC NISP Tbk. (NISP) has officially signed a Sale and Purchase Agreement (SPA) with Commonwealth Bank of Australia (CBA) to acquire 99% of its Indonesian unit, PT Bank Commonwealth (PTBC), for an estimated transaction value of Rp 2.2 trillion. This acquisition, announced on Thursday (16/11/2023), also includes plans to acquire the remaining 1% shares from other shareholders. The acquisition is subject to approval from the Financial Services Authority (OJK), the General Meeting of Shareholders (RUPS), and other conditions. Post-acquisition, PTBC will be integrated into OCBC Indonesia. Strategic Move for OCBC Indonesia. Enhancing Capabilities: According to OCBC Indonesia's President Director Parwati Surjaudaja, the acquisition aims to strengthen and complete OCBC Indonesia's capabilities in providing comprehensive financial services to both consumer and SME segments. Business Scale Expansion: PTBC's attractive and complementary client base in the consumer and SME (retail) segments will bolster OCBC Indonesia's business scale. Leveraging Strengths: The merger will enhance OCBC Indonesia's platform to seize growth opportunities in Indonesia's financial services. PTBC's competencies in wealth management and automotive joint financing will expand OCBC Indonesia's product and service offerings. Background and Shareholder Composition Previously, Malaysia's banking giant CIMB and Japan's financial corporation J Trust were rumored to be interested in acquiring PT Bank Commonwealth, with estimated values reaching US$400-500 million (Rp6.29-7.86 trillion). However, these claims were neither confirmed nor denied by the involved parties. Current shareholders of Bank Commonwealth include Commonwealth Bank Australia (99%), PT Giga Galaxy (0.36%), PT Murni Galaxy (0.36%), PT Samudra Anugrah Megah (0.10%), PT Ramadewan Minoko (0.07%), PT Prima Rukun Langgeng (0.06%), and PT Finkom Surya Putra (0.04%). This strategic acquisition by OCBC NISP is a significant move in Indonesia's banking sector, poised to enhance its market presence and service offerings. Source: CNBC Indonesia, 16 November 2023. www.rdj-advisory.com #rdjadvisory #batubara #coalmining #market #business #openforbusiness #taxconsultant #konsultanpajak #taxattorney #businesstaxadvisory #tax #pajak #taxconsultant #tarifroyalti #taxcontroversy  #taxdisputeresolution #pnbp #taxlawyer #customs #customslawyer #TaxUpdate #TaxLaw #FinancialPlanning #DownloadNow

OCBC NISP Acquires Bank Commonwealth for Rp 2.2 Trillion. PT Bank OCBC NISP Tbk. (NISP) has officially signed a Sale and Purchase Agreement (SPA) with Commonwealth Bank of Australia (CBA) to acquire 99% of its Indonesian unit, PT Bank Commonwealth (PTBC), for an estimated transaction value of Rp 2.2 trillion. This acquisition, announced on Thursday (16/11/2023), also includes plans to acquire the remaining 1% shares from other shareholders. The acquisition is subject to approval from the Financial Services Authority (OJK), the General Meeting of Shareholders (RUPS), and other conditions. Post-acquisition, PTBC will be integrated into OCBC Indonesia. Strategic Move for OCBC Indonesia. Enhancing Capabilities: According to OCBC Indonesia's President Director Parwati Surjaudaja, the acquisition aims to strengthen and complete OCBC Indonesia's capabilities in providing comprehensive financial services to both consumer and SME segments. Business Scale Expansion: PTBC's attractive and complementary client base in the consumer and SME (retail) segments will bolster OCBC Indonesia's business scale. Leveraging Strengths: The merger will enhance OCBC Indonesia's platform to seize growth opportunities in Indonesia's financial services. PTBC's competencies in wealth management and automotive joint financing will expand OCBC Indonesia's product and service offerings. Background and Shareholder Composition Previously, Malaysia's banking giant CIMB and Japan's financial corporation J Trust were rumored to be interested in acquiring PT Bank Commonwealth, with estimated values reaching US$400-500 million (Rp6.29-7.86 trillion). However, these claims were neither confirmed nor denied by the involved parties. Current shareholders of Bank Commonwealth include Commonwealth Bank Australia (99%), PT Giga Galaxy (0.36%), PT Murni Galaxy (0.36%), PT Samudra Anugrah Megah (0.10%), PT Ramadewan Minoko (0.07%), PT Prima Rukun Langgeng (0.06%), and PT Finkom Surya Putra (0.04%). This strategic acquisition by OCBC NISP is a significant move in Indonesia's banking sector, poised to enhance its market presence and service offerings. Source: CNBC Indonesia, 16 November 2023. www.rdj-advisory.com #rdjadvisory #batubara #coalmining #market #business #openforbusiness #taxconsultant #konsultanpajak #taxattorney #businesstaxadvisory #tax #pajak #taxconsultant #tarifroyalti #taxcontroversy  #taxdisputeresolution #pnbp #taxlawyer #customs #customslawyer #TaxUpdate #TaxLaw #FinancialPlanning #DownloadNow