18 Aug 2022
The new mobile banking app’s features will be rolled out in phases through a collaborative approach, delivering a future-ready experience through personalisation
Kuala Lumpur: CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) today introduced the early release of CIMB OCTO App (“CIMB OCTO” or “the 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, taking a collaborative approach as the future-ready app will allow customers to experience CIMB OCTO and provide their feedback before the app’s full release.
Designed for everyday use, the new app makes it easier, faster, and even more secure for customers to manage their finances, with simpler search and navigation tools, enhanced security, personalised banking services and an intuitive design. The progressive roll-out of CIMB OCTO will enable users to gradually adapt to the new mobile experience, and at the same time allow the Bank to iterate continuously by taking in user feedback in the development process.
The app is expected to be released with its full suite of features and solutions by the first half of 2023. 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 platform.
The release of CIMB OCTO marks the next phase in CIMB’s digital-led banking experience, incorporating new features based on best practices with and 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, 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.
The pandemic resulted in a sharpened focus on digital transformation in response to exponential user and traffic growth. As such, the new app was also designed to meet current and future digital banking requirements and capacity, in line with the rapid growth seen in CIMB’s digital banking users and transactions.
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.
For more information, please visit: https://www.cimb.com.my/cimbocto.
