CIMB Rolls Out eKYC for Its First Fully-Digital Islamic Savings Account ‘OctoSavers’
by Fintech News Malaysia August 2, 2021CIMB Bank and CIMB Islamic Bank have launched the CIMB OctoSavers Savings Account-i, its first all-digital Islamic account where the account opening and onboarding process is self-executed entirely online.
New customers will receive the newly launched Octo Debit Mastercard through mail for a convenient branchless experience.
The fully online account opening procedure is made possible through leveraging Bank Negara’s electronic Know-Your-Customer (e-KYC) guidelines.
The new end-to-end digital onboarding helps to further safeguard customers’ health during the pandemic by not having them step foot in a branch.
New customers who are Malaysian citizens aged 18 years and above may apply for the OctoSavers Account i through the CIMB Apply app, downloadable from Google Play and the App Store.
The customer verification process through e-KYC will be conducted in the app.
Existing CIMB customers who have a savings or current account with a Malaysian address may apply for the OctoSavers Account-i through the CIMB Clicks website.
Samir Gupta
Samir Gupta, Chief Executive Officer, Group Consumer Banking, CIMB Group said,
“The introduction of the OctoSavers Account-i and Octo Debit Mastercard is a significant milestone in CIMB’s digital banking journey and is particularly timely in the current COVID-19 environment.
The pandemic has not only fast tracked our digitisation initiatives but also accelerated our efforts in charting an optimum, seamless and safe user experience, for the benefit and convenience of our customers.”
