Maybank Launches Digital Home Financing Solution Within Its MAE AppMarch 3, 2022 0 comments
Maybank announced that it has launched its digital home financing solution “Maybank Home2u” on its MAE app that is capable of providing approvals within 10 seconds and is available to both existing and new customers.
Backed by Maybank’s proprietary automated decisioning engine, the solution offers a fully digital experience from application to approval and signing of Letter of Offer (LO) – without having to visit a branch.
Customers with salary credited into Maybank can apply for home financing up to RM1 million without submitting income documents and have the flexibility to package their home financing insurance via Maybank Home2u.
They will receive near real-time approvals if the home they are applying for is from the list of residential properties within the app.
Once approved, the bank’s mortgage advisors will contact successful applicants to review the LO and perform the required ‘Know-Your-Customer’ verification, as well as complete the electronic signing of the LO on the spot.
Those interested applying for home financing on a property that is not listed within the app can also apply via Maybank Home2u to kick off their home financing process.
A mortgage advisor who will be available 24/7 and will be automatically assigned to assist them to complete their applications.
Currently, customers have the option to apply for conventional or Islamic home financing under Maybank Home2u – Maybank MaxiHome and My First Home Scheme (for Conventional), and Commodity Murabahah Home-Financing-i and My First Home Scheme-i (for Islamic).
Group CEO of Maybank’s Community Financial Services, Dato’ John Chong said,
“The engine behind Maybank Home2u, which is developed wholly by our team, allows for instant eligibility checks and real-time approvals without the need for manual intervention.
This enables us not only to enhance the customer experience for our home financing applications, but also expand our operational efficiency in the processing of home financing applications.”