Wirecard and Affin Bank expand collaboration
By Digital News Asia September 10, 2019
- Wirecard enabled Affin Bank to roll out their ‘digital first’ strategy
- In Indonesia, Wirecard is market leader in corporate transaction banking software solutions
WIRECARD, and Affin Bank Bhd on Sept 9 announced an extension of their collaboration focused on revolutionising internet banking for consumers in Malaysia.
Through this partnership, over 300,000 Affin Bank customers are already benefitting from an array of services such as e-commerce and mobile payment powered by Wirecard technology.
By leveraging on more of Wirecard’s platform, Affin Bank is able to launch a complete internet banking solution which will drive customer growth and retention and boost e-banking usage.
Affin Bank is a financial institution listed on the Main Market of Bursa Malaysia and currently has a network of 110 branches across Malaysia. The bank provides a suite of financial products and services tailored to both retail and corporate customers.
Together with local banks, Wirecard is capitalising on the strong trend in Asia Pacific for internet banking with 77% of consumers preferring to bank digitally, as well as local banks’ preference to outsource technology development to third party experts.
Based on the company’s international expertise, Wirecard has developed specific solutions, tailored to the needs of banks in Asia who want to provide digital banking services to corporate or private clients.
Leveraging on Wirecard technology, banks are able to offer their corporate clients holistic transaction banking solutions such as cash management, liquidity management and invoice payment services.
In Indonesia, Wirecard is market leader in corporate transaction banking software solutions with more than 50% market share. For private clients, banks, such as Affin Bank, can offer the complete range of digital banking functionality from money transfers and investment management to loans through Wirecard’s white-label software complemented with a corresponding app.
Affin Bank group chief executive officer Kamarul Ariffin Mohd Jamil (pic) said, “We are pleased to partner with Wirecard and announce the enhanced Retail Internet Banking solution for our customers. The solution is a key product in the consumer segment and the expanded platform will help us to serve our customers better and provide an even better digital banking experience. As cashless payments continue to grow strongly in Malaysia, we look forward to working with Wirecard to provide more value-added services for our customers.”
“Customers today expect to perform their financial tasks with ease, and this means having access to banking services that are simple, intuitive and seamlessly connected across multiple channels including mobile and web,” said Chan Chun Fee, general manager and country head of Wirecard Malaysia.
“We are thrilled to continue to strengthen our relationship with Affin Bank as their technology partner to address the needs of consumers who demand convenience and value, and a personalized experience.”
Since 2017, Wirecard has been enabling Affin Bank to provide e-commerce and mobile payment services to its customers. Furthermore, Affin Bank has been leveraging on Wirecard’s digital financial commerce platform to enable merchants to accept online payments as well as credit and debit card payments via Wirecard’s point-of-sale terminals.