Saturday 20 Apr 2024
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KUALA LUMPUR (Nov 24): CIMB Group Holdings Bhd unit CIMB Bank Bhd said it is the first bank in Malaysia to receive regulatory sandbox approval to implement the electronic know-your-customer (e-KYC) method for customer-identity verification.

In a statement yesterday, CIMB Bank said the e-KYC method is set to be a viable replacement to existing face-to-face verification requirement in today's fast-paced mobile-defined world.

CIMB Group's CEO of group consumer banking Samir Gupta said in the statement: "This is a significant milestone for CIMB, paving the way for our e-KYC proposition to further enhance and transform our already strong digital proposition, which currently facilitates more than 95% of our customers' transactions via digital and self-service platforms.

"The e-KYC is designed with customers' convenience in mind and will be in addition to existing instant online approval for credit cards, eliminating the need for them to visit a branch."

 

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