Sunday, August 1, 2021

CIMB introduces fully-digital Islamic savings account through e-KYC

PETALING JAYA: CIMB Bank Bhd and CIMB Islamic Bank Bhd have today launched the CIMB OctoSavers Savings Account-i, the bank’s first all-digital Islamic account, together with the new CIMB Octo Debit Mastercard.

The OctoSavers Account-i is curated for the convenience of new customers where the account opening and onboarding process is self-executed entirely online, while the debit card will be mailed to customers, ensuring a convenient branchless experience.

The fully online account opening procedure is made possible through leveraging Bank Negara Malaysia’s electronic Know-Your-Customer (e-KYC) guideline – where CIMB is able to fulfil its requirements for conducting customer due diligence through electronic means, including online and mobile channels. The new end-to-end digital onboarding helps to further safeguard customers’ health during the pandemic by not having them step foot in a branch.

CIMB CEO of group consumer banking Samir Gupta said the introduction of the OctoSavers Account-i and Octo Debit Mastercard is a milestone in CIMB’s digital banking journey and is particularly timely in the current Covid-19 environment.

“The pandemic has not only fast tracked our digitisation initiatives but also accelerated our efforts in charting an optimum, seamless and safe user experience, for the benefit and convenience of our customers. We look forward to offering more innovative digital banking and syariah-compliant solutions that are able to meet the customer’s on-the-go banking requirements online.”

The CIMB OctoSavers Account-i is CIMB’s first fully digital Islamic savings account that offers instant rewards along with other benefits. Account holders can earn OctoPoints through OctoChallenge and OctoMissions to redeem instant rewards such as vouchers from popular online stores and e-wallets such as Shopee, Zalora, Grab, and Lazada – all managed within the CIMB Clicks app. Additionally, account holders will also enjoy a

waiver of annual fee on Octo Debit Mastercard.

New customers who are Malaysian citizens aged 18 years and above may apply for the OctoSavers Account-i through the CIMB Apply app, downloadable from Google Play and the App Store. The customer verification process through e-KYC will be conducted in the app.

Existing CIMB customers who have a savings or current account with a Malaysian address may apply for the OctoSavers Account-i through the CIMB Clicks website. OctoSavers Account-i is unfortunately, currently unavailable for existing CIMB financing customers who do not have a savings or current account.



Source: The Sun Daily

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