Thursday, 22 November 2012

反思+ Maybank muscles into Asean cash management market

Maybank, which spent at least US$20 million building up the RCM system,
is looking at a payback period of about two years.



Maybank muscles into Asean cash management market

SINGAPORE: Malayan Banking Bhd (Maybank), the fourth largest banking group in Asean by assets,
expects revenue from its newly-launched regional cash management (RCM) business to grow by 25 per cent annually
over the next three years as it looks to grab market share from foreign banks.

RCM is a business that has been dominated by foreign banks,
including Standard Chartered and HSBC, over the last 20 years.

Maybank, as a late entrant to the business, is counting on its increasingly strong regional presence to give it an edge over these banks,
said Abdul Farid Alias, deputy president and head of global wholesale banking (GWB,) at a press conference here yesterday..

Maybank is the first Malaysian bank to operate the business on a single standard system
that spans multiple countries.

"The cash management market in Asia is fast growing and estimated to be worth over
US$162 billion by 2014, based on a study by McKinsey ... so it's a very lucrative market.

"In the past, it was largely dominated by US banks but today we see more and more Asean banks getting into it.
(Going forward), it will undoubtedly be large local banks that dominate this space," said John Wong, group head of transaction banking.

Cash management is part of the group's transaction banking business, of which it is a market leader in Malaysia.

The RCM system, delivered through its Maybank2E web-based platform for corporate customers,
was designed to meet the growing transactional needs of Maybank's global banking clients in Asean as well as China and Hong Kong.

Maybank had as far back as 2007 started operating its Maybank2E online cash management system in Malaysia,
while in Singapore and Indonesia, it had separate systems catering to those markets.
It currently has 25,000 corporate clients in Malaysia, 3,500 in Indonesia and 3,000 in Singapore.

Abdul Farid said given the increasing intra-Asean trade and momentum of growth in Asia,
clients would benefit from having a cost-effective and efficient cash management system,
real-time view of their liquidity positions as well as a complete spectrum of trade finance capabilities to better manage their business.

Over the last three months, Maybank took on board nine clients with businesses across the region to pilot the system.

Maybank, which spent at least US$20 million building up the RCM system,
is looking at a payback period of about two years.

The system is already enabled in Malaysia and Singapore, with Indonesia expected to come on board early next year.
It will be enabled in all of Asean countries, except Myanmar, by the middle of next year.


yy said...

这两天看到maybank RM9.00, 一度想加码。。。

SingBlueSilver Ninenine said...