BSN Releases myBSN, Its First Mobile App For Retail Customersby Fintech News Malaysia February 5, 2024 0 comments
After years of a web-only myBSN online banking portal, Bank Simpanan Nasional (BSN) has finally released the myBSN mobile app for personal banking BSN account holders.
The new app is not too be confused with BSN’s BSNeBiz Mobile app, which is specifically targeted at corporate and SME clientele only. myBSN is intended to fill the mobile banking gap, as prior to this BSN was one of the few local banks without a smartphone app for personal banking customers.
The myBSN mobile app can now be obtained for Apple and Android devices, and is intended to simplify access and enable seamless consumer banking services including savings and credit card account enquiries such as account balance and transaction histories.
In a departure from the features available on the myBSN internet banking portal, the mobile application also introduces the capability for QR payments, allowing customers to scan and make payments directly from their mobile devices. Additionally, the app supports fund transfers and credit card payments through DuitNow, facilitating instant transactions.
To prioritise security, myBSN leverages biometric identification with fingerprint and facial recognition to verify identity on the mobile device. myBSN also can secure funds and prevent unauthorised transactions with the BSN Safe Switch. a self-service security feature that other banks are introducing too, allowing the user to block access to their account in real-time, if the account is suspected to be compromised.
Bank Simpanan Nasional (BSN) was initially established in 1974, with the primary mission to enhance the public’s access to financial services in Malaysia. The foundation of BSN was part of a broader government initiative aimed at boosting savings and investments among Malaysians, particularly within low and middle-income groups.
Broadening its financial inclusion focus even further, BSN CEO Jay Khairil sat down with Fintech News Malaysia‘s Vincent Fong to explain the bank’s journey in catalysing microfinancing for small businesses in Malaysia next.