New customers to be the first to enjoy the benefits of end-to-end digital onboarding features of the account 

KUALA LUMPUR, Aug 2 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) have launched the CIMB OctoSavers Savings Account-i (“OctoSavers Account-i”) on 1 August 2021, 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 Accounti 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. 

About CIMB
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM43.1 billion as at 31 March 2021. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, South Korea, the US and UK. 

CIMB has one of the most extensive retail branch networks in ASEAN with 644 branches and around 34,000 employees as at 31 March 2021. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. 

Source: CIMB

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Lynn Guha Thakurta / Juanita Johari
Group Corporate Communications
CIMB Group Holdings Berhad
Email: lynn.thakurta@cimb.com / juanita.johari@cimb.com

--BERNAMA