CIMB introduces OctoSavers, its first fully-digital Islamic savings account through e-KYC for new customers
1 August 2021
New customers to be the first to enjoy the benefits of end-to-end digital onboarding features of the account
Kuala Lumpur:CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) have today launched the CIMB OctoSavers Savings Account-i (“OctoSavers Account-i”), the Bank’s first all-digital Islamic account, together with the new CIMB Octo Debit Mastercard (“Octo Debit Mastercard”). The OctoSavers Account-i is specially curated for the convenience of new customers where the account opening and onboarding process is self-executed entirely online, while the debit card will be mailed to customers, ensuring a convenient branchless experience.
The fully online account opening procedure is made possible through leveraging Bank Negara’s electronic Know-Your-Customer (“e-KYC”) guideline – where CIMB is able to fulfil its requirements for conducting customer due diligence through electronic means, including online and mobile channels. 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.
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. We look forward to offering more innovative digital banking and Shariah-compliant solutions that are able to meet the customer’s on-the-go banking requirements online."
The CIMB OctoSavers Account-i is CIMB’s first fully digital Islamic savings account that offers instant rewards along with other benefits. Account holders can earn OctoPoints through OctoChallenge and OctoMissions to redeem instant rewards such as vouchers from popular online stores and e-wallets such as Shopee, Zalora, Grab, and Lazada – all managed within the CIMB Clicks app. Additionally, account holders will also enjoy a waiver of annual fee on Octo Debit Mastercard.
Besides all the advantages and convenience from digital innovation, customers will also be pleased to note that our offering supports Value-Based Intermediation, where practices and offerings in Islamic banking and finance generate positive and sustainable impact to the economy, community and environment.
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 (www.cimbclicks.com.my).
OctoSavers Account-i is unfortunately, currently un-available for existing CIMB financing customers who do not have a savings or current account.
For further information on CIMB OctoSavers Savings Account-i and CIMB Octo Debit Mastercard, please log on to: www.cimb.com.my/octosavers
Dato’ Abdul Rahman Ahmad, Group CEO, CIMB Group (centre) together with (L-R) Ahmad Shahriman Mohd Shariff, CEO, CIMB Islamic Bank Berhad; Samir Gupta, CEO, Group Consumer Banking, CIMB Group and Kanags Surendran, Head of Transforming Customer Journey, CIMB Group officiating the virtual launch of CIMB’s OctoSavers Account-i and Octo Debit MasterCard. They were also joined by singer and actress Ernie Zakri (second left), celebrity dancer and social media personality Dennis Yin and singer and actress Cik Manggis.
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