AmBank Group recognised for excellence in Banking Analytics at the Malaysia Technology Excellence Awards 2021
AmBank Group has recently been accorded with ‘Analytics – Banking category’ award at the Malaysia Technology Excellence Awards 2021.
This recognition is a testament to the Bank’s adoption in its analysis defining primary operating accounts for various segments such as retail individuals, corporates, and SMEs.
"As we embrace data as part of our DNA, this recognition gives credence to our strategy of adopting data for decision making. Intelligence-driven banking has given us a comprehensive understanding of our customers, allowing us to make informed decisions. In turn, our ability to make appropriate offers and recommendations have been enhanced. This has help us attract new customers while simultaneously boost our CASA operating accounts," said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.
“Primary Operating customers is a proprietary data model developed by our Data Science team that considers various parameters based on customer segment to identify which customers rely on AmBank as their primary operating bank. In Malaysia, with almost every customer being multi-banked, identifying levers that make our customers choose AmBank as their primary bank is important to building sticky and mutually valuable relationships. While the other parameters vary by segment, the frequency of using their current / savings account and digital adoption are common factors across customer segments. We tailor our offerings to drive stickiness and run targeted initiatives to convert customers to switch to us as their main bank. This initiative has paid off to increase our primary operating penetration into our customer base and is proving our conviction in our intelligence-driven bank strategy,” added Datuk Iswaraan Suppiah, Group Chief Operating Officer, AmBank Group.
The Malaysia Technology Excellence Awards recognises exceptional companies who are riding the disruption wave and are leading the technological revolution and digital journeys of their respective industries to boost Malaysia’s fast-growing economy.
About AmBank Group
AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 9,000 people.
The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM9 billion and assets of RM169.2 billion as at 31 March 2020.
AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.
For more information, please visit www.ambankgroup.com
For further information, please contact Syed Anuar Syed Ali, Executive Vice President, Group Corporate Communications and Marketing, AmBank Group at Tel: 03-2036 1703 or email at [email protected].