Xelerate will support Maybank Singapore’s plan to grow its retail business by facilitating the introduction of innovative product bundles that are tailored to customers’ needs
London, UK and Kuala Lumpur, Malaysia, 9 October 2014 - Maybank, South East Asia’s fourth largest bank by assets, today announced its deployment of SunTec’s Xelerate to further enhance the customer centricity of its products and services. This will see the bank introduce more innovative product bundles that are tailored to the needs of its retail customers in Singapore.
Xelerate, SunTec’s innovative product suite, is designed to maximise revenue while minimising risk. The deployment in Singapore took place in a record time of 3.5 months, integrating multiple legacy systems with Xelerate.
With Maybank looking to extend its client-focused business model across the region, SunTec’s Xelerate will help automate and improve its processes to satisfy the needs of its large customer base. It has also enabled Maybank to enhance its customer proposition by offering an extended range of products and services.
At the same time, financial advisors are better equipped to offer their customers more relevant deals based on accurate customer data available across multiple business lines and channels.
In addition, Maybank uses Xelerate to provide exclusive interest rates, credit card deals and promotions to match the needs of different customer segments. Such offers allow Maybank to grow their deposits and increase card spend, fee income across various customer segments. Xelerate provides greater visibility into customer credit, debit and savings transactions which improves product offerings to customers, prevents revenue leakage for the bank while enhancing customer experience.
Mr Lim Hong Tat, CEO of Maybank Singapore and Head of Community Financial Services of Maybank Group commented: “Customers expect more personalised products and services. With SunTec’s technology and expertise on board at Maybank, we will be able to better serve our customers through our customer-centric strategies across multiple lines of business not only in Singapore but across the region as well. This is an important step in our goal to becoming a leading regional financial services provider and offering our customers a seamless banking experience across the region.”
Nanda Kumar, CEO of SunTec Group said: “We are delighted to support one of Asia’s largest financial services groups in delivering a modern banking experience to millions of customers. This project shows why bespoke banking products are as important as ever for the world’s leading banks in helping them enhance the bank-client relationship.”
Nirmal Chander, Regional Sales Head, SunTec Group said “Maybank is clearly taking a thought-leadership position in rolling out customer centric initiatives within the APAC region. Our success in delivering this project for the bank firmly establishes our leadership in delivering high quality revenue management solutions to leading financial services providers across the region.”