Making a “bold move into a new era of digital banking”, Bank Rakyat announced on October 24 that it is future-proofing its banking operations through 5G connectivity, powered by CelcomDigi. According to the press release, this makes them Malaysia’s first 5G-connected bank.
This will drive the bank’s endeavour of providing end-to-end smart banking solutions and help its overall operational efficiencies whole delivering high-quality services to customers.
Moving to serve the underserved
The first phase will involve Bank Rakyat equipping its Bank Bergerak fleet with 5G technology powered by CelcomDigi.
With enhanced connectivity, the mobile banks can provide smoother transactions and real-time updates during banking activities no matter where they are located.
According to Bank Rakyat’s website, its fleet of mobile banking kiosks will prioritise those in semi-urban and rural areas, allowing these underserved customers there to perform various banking transactions.
Services said to be offered by the Bank Bergerak includes:
- Account Opening (Savings-i, Deposit-i, Current-i)
- Cash Withdrawals
- Fund Transfer
- Financing Payment
- Bill Payment
- Tabung Haji Services
- SSM Services
- SSPN Services
- Ar-Rahnu services (available at Bank Bergerak – Kota Tinggi, Sandakan, and Bintulu)
- Remittance (by Merchantrade)
- Issuance/ Replacement of ATM Card
- Distribution / Collection of Personal Financing-i and Card Credit-i application
- Financial Advisor
As for the Bank Bergerak locations, Bank Rakyat’s website has a list updated as of August 7, 2023. There appears to be mobile banks in nine regions, namely:
- Selangor and Kuala Lumpur
- Termeloh, Pahang
- Kota Bharu, Kelantan
- Alor Setar (Kedah and Perlis)
- Kota Tinggi, Johor
- Bintulu, Sarawak
- Sandakan, Sabah
- Keningau, Sabah
- Kota Marudu, Sabah
A strategic move towards its goals
Other than the Bank Bergerak, CelcomDigi’s solutions will ensure seamless connectivity in some of Bank Rakyat branches across Malaysia, as well as enhance the security and surveillance for off-premises.
Following this, Bank Rakyat stated that it will be poised to explore digital IoT opportunities, especially in the realms of cloud and cybersecurity solutions.
“These initiatives will create avenues for additional digitalisation solutions and applications, fortifying the bank’s digital capabilities, improving customer touchpoints, and elevating competitiveness in the market,” the release stated.
Dato’ Dr. Mohammad Hanis Osman, the CEO of Bank Rakyat, shared in the release that these solutions are in line with the bank’s digitalisation plans as well as the great customer experience agenda, both of which are pillars outlined in its five-year strategic plan, the Bank Rakyat 2025 (BR25).
“This initiative also aims to address financial inclusion and catalyse the advancement and flourishing of small and medium-sized enterprises (SMEs),” he added.
Developing a small and medium enterprises value creation centre is also a part of the BR25’s blueprints.
Featured Image Credit: Bank Rakyat / CelcomDigi