CIMB Bank Berhad (“CIMB Bank”) and CIMB Islamic Bank Berhad (“CIMB Islamic”) fully support BNM’s efforts in promoting a cashless society. For many years, our focus on digital banking has been continually enhanced through our growth blueprint, T18. Today, more than 95% of our customers’ financial transactions are completed digitally, and a substantial percentage of those transactions used to be cash transactions. Over the last one year, our mobile transactions have also grown by 97% y-o-y.
We will continue to focus on digital as one of the key pillars for our next mid-term growth plan, in an effort to provide even more convenience to our customers. To that end, we believe DuitNow, another innovative payment solution by the banking industry for Malaysians to transfer funds conveniently and securely – simply by using either a mobile or NRIC number, for example – will continue to drive the growth of digital and non-cash transactions in Malaysia.
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