CIMB Debuts Brand New Mobile App CIMB OCTO

CIMB Debuts Brand New Mobile App CIMB OCTO

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CIMB Group today introduced the early release of CIMB OCTO App, its next generation mobile banking app designed to deliver new features and personalisation for over 8 million customers nationwide.

CIMB OCTO will be rolled out in phases and enhanced with each successive release, allowing customers to experience it and provide their feedback before the app’s full release.

New features of the app includes data driven personalisation based on the users activities. The app, for example will compile a list of potentially tax deductible debit and credit card transactions and send it to the user during tax filling season.

The app will send reminders for bill payments based on transaction history and provide investment recommendations as well.

CIMB OCTO is expected to be released with its full suite of features and solutions by the first half of 2023.

These new features that are slated to be rolled out include cross border QR payments in Thailand and Singapore via PromptPay and PayNow respectively, cross border remittance which they claim will provide the best rates in the market, and further insights and recommendations on how users can better manage their finances.

In the meantime, CIMB Clicks will continue to be available concurrently to complement CIMB OCTO, ensuring that customers will have the option and flexibility of accessing banking services as required on either digital platforms.

They said that the release of CIMB OCTO marks the next phase in CIMB’s digital-led banking experience, incorporating new features based on best practices with personalisation at the fore.

In addition to the new features and functionality, the app is supported by a new technology stack and operational infrastructure with a focus on providing enhanced stability and security.

 

Samir Gupta CIMB

Samir Gupta

Samir Gupta, CEO, Group Consumer Banking of CIMB Group said,

“CIMB OCTO reflects our focus on delivering solutions that are timely and relevant, given the accelerated shift towards digital transactions and more specifically mobile banking. It is a response to the changing behaviours of customers in Malaysia, providing a broader range of personalised banking solutions to meet their current and future needs, preferences and lifestyles. Inspired by our customers’ feedback, we have designed the new app with a refreshed interface and enhancements that embody the collaborative approach and personalisation.”

 

“In addition, the new app also provides CIMB with greater flexibility, agility and speed to market in deploying platform expansions such as capacity upgrades or new features in response to future customer needs and traffic growth.

 

The release of our future-ready app marks a new phase in our digitalisation journey and represents our focus on Customer Centricity as part of our Forward23+ strategy. We hope that our customers will be excited to try out the new banking app, and we encourage them to share their feedback with us as we continuously refine its features and experience,”

he added.

As of today, 4.5 million CIMB customers are digitally active, up by 10% year-on-year (“yoy”). CIMB Clicks mobile users have also increased by 37% since 2020. Digital transactions today make up 70% of the bank’s total transactions by value, an increase of 11% from the past year.

The new app is now available for download as CIMB OCTO MY on the Apple App Store, Google Play Store and Huawei AppGallery.

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