(Kuala Lumpur, Jan 20) Maybank announced today that it will increase its technology investment by tenfold, raising the budget from around RM1 billion to RM10 billion, as part of a broader push to strengthen cost discipline while improving efficiency and competitiveness.
Speaking at a media briefing, Group CEO Datuk Khairussaleh said the bank’s cost-strengthening efforts will focus on several key areas, including boosting employee productivity, improving workforce succession planning as staff retire, enhancing procurement capabilities, and optimizing network and resource allocation. These measures are positioned as part of Maybank’s effort to keep cost controls in place while scaling up tech spending.
On the technology front, Maybank plans to introduce a new application and undertake a major revamp of its existing “MAE” platform. Khairussaleh noted that the new app is intended to enhance capabilities and could potentially replace MAE in the future.
He added that the new platform is being designed to serve the entire group and its regional markets, with the aim of building a single platform or deploying across multiple countries. The goal is to improve customer engagement and support cross-border business expansion.
Khairussaleh also said Indonesia may be the first market to launch the new platform, tapping into the country’s accelerating digital adoption, while Malaysia and Singapore would follow strategies tailored to their respective market needs.
Over the next five years, Maybank expects the apps to play a larger role in driving cross-selling and strengthening revenue generation across both retail and non-retail segments. For non-retail business, the bank will place greater emphasis on transaction banking and payments to diversify income streams, while reinforcing its position as customers’ primary bank and maintaining stable current account deposits and liquidity.
Regarding the launch timeline, Khairussaleh said more details will be announced soon. Development is already underway, and the bank plans to provide ongoing updates throughout the year. While he cautioned against raising expectations too early, he suggested rollout could happen faster than the market anticipates.
