Maybank is gearing up to launch a new banking app under its ROAR30 five-year plan. In addition to strengthening the company’s regional digital footprint, this app can also potentially replace MAE, Maybank’s existing mobile app.
“We want to introduce a new app to lift our capabilities and potentially replace MAE,” says President and group chief executive officer Datuk Seri Khairussaleh Ramli during the media briefing for ROAR30. “MAE is good, but we think there are certain capabilities that we need to put in place.”
Khairussaleh noted that the bank has already identified key areas for improvement through engagements with individual customers. He added that the bank will develop future digital initiatives at the group and regional level, rather than tailoring them to individual markets. Indonesia will lead the rollout, ahead of Malaysia and Singapore.
He further shared that the team is currently developing a retail-focused application and will disclose more details later in the year. While he indicated that an announcement on the new app is forthcoming, he did not specify a timeline.
You may recall that Maybank has an interesting history with its apps. It first introduced the Maybank2u app, the company’s original banking app, which facilitated customers’ digital banking transactions. The bank later launched the MAE app, initially positioned as an e-wallet. Over time, however, MAE gained traction and eventually replaced Maybank2u as the bank’s primary digital banking app. After this, Maybank decided to discontinue support for Maybank2u on 28 August 2024.
During the five-year celebration of MAE, Maybank boasts that the app has 10.7 million users and has a 48% market share. Many Maybank clients have grown accustomed to using the former e-wallet as their primary digital banking platform, and replacing it may inconvenience many users. That said, the New Straits Times reported that there is a possibility that the MAE app might not be replaced, but only time will tell if this comes to pass.
(Source: New Straits Times, The Edge)
