Retail Banking Awards 2023 Winner: Alliance Bank Malaysia Berhad
Malaysia's Alliance Bank is making waves in ESG initiatives, introducing a groundbreaking virtual credit card with a fully digital application process, offering quick approval within 24 hours.
In an interview, Gan Pai Li, Group Chief Consumer Banking Officer, and Raymond Chui, Group Chief SME & Commercial Banking officer share how this innovation combats scams and fraud in e-commerce transactions, giving users control over their card's usage and the ability to freeze it if suspicious activity arises. They also talk about the bank's commitment to innovation including NFC and Google Pay integration, enhancing payment options. They're also venturing into supporting SME growth, with emphasis on micro SMEs and startups, creating a digital SME segment to address their unique financing needs, and harnessing ideas from both within and outside the banking industry to ensure success in this endeavour.