To support growth in its retail business, Maybank Singapore has chosen SunTec’s Xelerate to further enhance the customer centricity of its products and services and to tailor to the needs of retail customers in Singapore.
Xelerate is designed to maximise revenue whilst minimising risk and will help automate Maybank across the region. The deployment in Singapore took place in a record time of 3-and-a-half months, integrating multiple legacy systems with Xelerate.
Financial advisors are also better equipped to offer customers more relevant deals based on accurate customer data available across multiple business lines and channels.
In addition, Maybank uses Xelerate to provide exclusive interest rates, credit card deals and promotions to match the needs of different customer segments. Such offers will allow Maybank to grow their deposits and increase card spend, fee income across various customer segments.
Xelerate provides greater visibility into customer credit, debit and savings transactions, which improves product offerings to customers, prevents revenue leakage for the bank while enhancing customer experience.
Lim Hong Tat, CEO of Maybank Singapore and head of community financial services of Maybank Group, said: “Customers expect more personalised products and services. With SunTec’s technology and expertise on board at Maybank, we will be able to better serve our customers through our customer-centric strategies across multiple lines of business not only in Singapore but across the region as well.”
“This is an important step in our goal to becoming a leading regional financial services provider and offering our customers a seamless banking experience across the region.”
Nanda Kumar, CEO of SunTec Group said: “We are delighted to support one of Asia’s largest financial services groups in delivering a modern banking experience to millions of customers.”
“This project shows why bespoke banking products are as important as ever for the world’s leading banks in helping them enhance the bank-client relationship.”
