CIMB Introduces Online Solutions For Easier Account Opening And Financing Application Processes

Alex Cheong Pui Yin

16th July 2020 - 2 min read

(Image: The Star)

CIMB Bank and CIMB Islamic Bank have introduced two new digital solutions for their customers to offer better accessibility to CIMB’s banking products, as well as safety and convenience. The solutions comprise an online-to-branch account opening process for individual customers and the Biz Financing Portal for SME customers.

The online-to-branch account opening process allows individual customers to digitally start the process of opening a bank account by pre-filling an e-form on the bank’s website. They can then complete the remaining steps of their application – such as identity checks – by visiting the bank’s branches, where there will be a dedicated e-account opening priority lane available. This new process is now offered at all branches nationwide, and has helped to reduce service time by more than half.

(Image: New Straits Times)

Meanwhile, CIMB’s new Biz Financing Portal – which has been up and running since 13 July 2020 – allows SME customers to submit their financing applications through a fully online process. Instead of having to visit the bank’s branch for this specific purpose, they can now upload the necessary documents and submit their loan applications via the portal.

According to the group chief strategy and design officer of CIMB Group, Gurdip Singh Sidhu, these new initiatives are especially crucial in the new normal of banking and payments. He said that the solutions are aligned with two of the five main pillars in CIMB’s Forward23, a five-year business plan that was launched in 2019. The two pillars involved are customers as well as technology and data; CIMB aims to use the new solutions to digitise and simplify its products and processes so that customers can have a more seamless and convenient banking experience.

“Digitising our banking process also addresses the social distancing considerations to protect the wellbeing of our customers and employees by significantly reducing the amount of physical interaction required,” said Gurdip.

Gurdip further added that customers’ banking behaviour is bound to change going forward, and that CIMB is accelerating its pace of innovation to deliver the best value proposition while keeping all parties safe.

(Source: The Sun Daily)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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