CIMB Malaysia has officially taken the wraps off a brand-new mobile banking app called CIMB Octo. The app, which was said to be built from the ground up to meet technological, security, and user expectations of today and beyond, is available for download from today and will live alongside the bank’s CIMB Clicks app.

Interestingly, CIMB is taking a “collaborative approach” with the launch of CIMB Octo. The bank is taking a stance where the app is launched today with a limited set of features, and newer ones will be introduced progressively with the full set of features on the app to be rolled out by Q2 2023. A web version of CIMB Octo is set to be ready by the end of next year.

The phased approach, according to CIMB, is to allow new and existing users of CIMB Clicks to gradually adapt to the new app and encourages users to share feedback during this stage, allowing CIMB to incorporate them in future app updates alongside other enhancements and features.

The new CIMB Octo app was built on an entirely new technology stack and operational infrastructure compared to CIMB Clicks, which has begun showing its age. CIMB Octo employs a “microservices” approach, allowing much greater flexibility and agility to deploy new features to the platform. The app also places emphasis on enhanced stability and security, with support for more concurrent users compared to Clicks.

CIMB also stated that Octo allows users to take control of their mobile banking experience, allowing them customisation options as well as security and convenience tweaks. Users can customise their Homescreen with the ability to display account balances and customise widgets such as Transfer, DuitNow, DuitNow QR, JomPAY, and more based on their preferences. In addition, users can set biometric security via fingerprint or facial recognition to log into the app instead of using their passwords.

Samir Gupta, CEO, Group Consumer Banking of CIMB Group said, “CIMB OCTO reflects our focus on delivering solutions that are timely and relevant, given the accelerated shift towards digital transactions and more specifically mobile banking. It is a response to the changing behaviours of customers in Malaysia, providing a broader range of personalised banking solutions to meet their current and future needs, preferences and lifestyles. Inspired by our customers’ feedback, we have designed the new app with a refreshed interface and enhancements that embody the collaborative approach and personalisation.”

“In addition, the new app also provides CIMB with greater flexibility, agility and speed to market in deploying platform expansions such as capacity upgrades or new features in response to future customer needs and traffic growth. The release of our future-ready app marks a new phase in our digitalisation journey and represents our focus on Customer Centricity as part of our Forward23+ strategy. We hope that our customers will be excited to try out the new banking app, and we encourage them to share their feedback with us as we continuously refine its features and experience,” he added.

In this “early release”, CIMB Octo users can access the following features:

• My Accounts & Details
• Own Account Transfer
• 3^rd party Fund Transfer
• DuitNow Transfer
• Pay Loan & Cards
• JomPAY
• Prepaid Top Up
• Add Favourite
• DuitNow QR
• Biometric or passcode approval for transfers up to RM500
• Credit Card & CVV in-app display

Meanwhile, in the coming updates CIMB will add more features, including foreign transfer, widgets, DuitNow QR Cross-Border transactions, and machine learning-based insights and recommendations.

The CIMB Octo app is now available on the Google Play Store, Apple App Store, and the Huawei AppGallery.

• TAGS:
• CIMB
• CIMB Clicks
• CIMB Malaysia
• CIMB OCTO
• Samir Gupta