KUALA LUMPUR (Feb 16): Malayan Banking Bhd (Maybank), the country's largest lender by assets, is introducing several new services on its online banking platform Maybank2u (M2u), as part of its plans to strengthen its online banking market share.

The new services are the real-time current account opening as well as instant decisioning for credit cards, bill presentment on mobile, QuickTouch for Android devices and a transaction banking site in Bahasa Malaysia.

"The new services will enhance customer convenience, and in the case of account opening and card application, significantly reduce the time customers normally spend at branches to have their details recorded, and accounts processed," Maybank said in a statement today.

Maybank currently commands 64% of the internet banking transaction volume and 76% of mobile banking transaction volume in the country.

"For opening of accounts, potential customers will just have to key in their details via M2u and submit them online for straight through processing by the bank. They will receive a notification on their mobile phones and simply have to choose which Maybank branch to maintain their account.

"All they have to do then is to present themselves at the branch for the customer due diligence verification before activation of their accounts," said Maybank.

Similarly, applications for new cards, balance transfer and EzyPay Plus can be done online via M2u and they will be processed instantly, it added.

The bill presentment service, which is currently available for Astro, Celcom, Telekom Malaysia Bhd and Tenaga Nasional Bhd, brings the convenience of viewing the bills on mobile devices via M2u.

Maybank head of community financial services for Malaysia Datuk Hamirullah Boorhan said the introduction of these new services on M2u are part of Maybank's continuous commitment to add value to its online banking offering.

"Online banking has become a trend for people from all walks of life and they are increasingly transacting over this channel. M2u currently records transactions to the value of RM174 billion a year with the volume of transactions growing by about 30%," he said.

Hamirullah said Maybank was planning to introduce more online services to further simplify banking as well as boost operational efficiency.

Among the new services will be Quick Touch for Android to be launched in March.

"This new service allows customers even faster access to check their balances via the M2u app with just a biometric fingerprint scan on their Android devices. We have seen almost 100% adoption of Quick Touch among our mobile banking customers who use Apple devices," said Hamirullah.

M2u, which was Malaysia's first internet banking site when launched in 2000, is today available in Malaysia, Singapore, Indonesia, the Philippines and Cambodia.