KUALA LUMPUR, Malaysia and
BLUE BELL, Pa., June 13, 2018 /PRNewswire/ -- New research
from Unisys Corporation (NYSE: UIS) into Malaysia's banking industry reveals that
Malaysian consumers are willing to embrace new bank services based
on emerging technologies such as artificial intelligence (AI) and
machine learning. They are also willing to support data sharing in
an Open Banking environment, but only if privacy and security
concerns are addressed.
Unisys APAC Banking Insights – Banking on the CX
Factor is a study about the attitudes of banking customers
in Malaysia, Australia, Hong
Kong, the Philippines and
Taiwan. This year's report
explores how consumers feel about banks using AI to assess
eligibility for credit cards and home loans, as well as sentiment
toward banks sharing data with non-bank entities to offer new
services - known as Open Banking.
Customer Frustrations
The top annoyance
for Malaysian bank customers is long queues, cited by 47
percent of respondents – the second highest of the five countries
surveyed, behind the Philippines.
Twenty percent of Malaysians are annoyed by having to repeat
themselves. Only 12 percent are annoyed by being unable to complete
an "online" service online.
"With bank queues the top annoyance for Malaysian bank
customers, there is a huge opportunity for Malaysian banks to move
more customer interactions to digital channels, including mobile.
Malaysians are keen to use digital services but they seek a
seamless omnichannel relationship so that they can start a
transaction in one place and pick it up in another without having
to start over. In addition to relieving pressure on the branches,
artificial intelligence and machine learning technologies can be
used to help banks deliver targeted and relevant online services
across all channels," said Richard
Parker, vice president financial services, Unisys Asia
Pacific.
The survey reveals that Malaysian bank customers have a strong
appetite for tech innovations to enable digital bank services –
depending on the type of transaction. Fifty-two percent of
Malaysian consumers are comfortable with their bank using software
and algorithms to assess online credit card applications. While
only 39 percent are willing to use this for home loans, it is the
second highest level of willingness of the five countries surveyed,
behind the Philippines.
Readiness for Open Banking
Open Banking is a growing
initiative in the financial services sector that allows banks to
share data with other organizations in order to offer new services
to customers and new revenue streams for the banks. Regulations for
Open Banking vary between countries, such as agreements among
members of the Association of Southeast Asian Nations (ASEAN) as
part of the ASEAN Banking Integration Framework (ABIF) that
includes Malaysia.
Forty percent of Malaysians support their bank sharing their
personal data with other companies to access financial products,
the second highest support in Asia
Pacific. However, almost as many, 38 percent don't support
it, citing concerns about privacy and security. Malaysia recorded the highest level of desire
to keep personal information private.
"For Open Banking to take off in Asia, banks must address customer concerns
about how they protect customer data – not just in the bank, but
across all of the departments, partners and agencies in the value
chain. Doing business in the 21st century requires dynamic software
that adapts to business trends and evolves with security concerns.
Unisys' Retail Banking Delivery platform, Elevate™, is secured with
Unisys Stealth®, an identity-based microsegmentation
security software that allows banks to microsegment and conceal
critical assets and establish encrypted channels for secure user,
application and system communication," said Parker.
Unisys is helping banks to address these concerns with Elevate,
an end-to-end, digital banking software platform and suite of
applications designed to help financial institutions deliver an
instantly secure, omnichannel banking experience to their
customers. Importantly, this means customers will be able to pay
their bills on the go, transfer funds and apply for loans and
mortgages anytime, anywhere – regardless of whether they are doing
so on a mobile device or tablet, via an internet browser or inside
a branch.
More than 500 financial institutions worldwide rely on Unisys
solutions. For more information on Unisys' financial services
capabilities, please visit
http://www.unisys.com/industries/financial-services.
For more information, download the full Asia Pacific Banking
Insights survey results and infographics here.
Research Methodology
Research firm OmniPoll conducted
the online survey in November 2017,
polling nationally representative samples of at least 1,000 people
aged 18+ years in each of: Hong
Kong, Australia,
Hong Kong, Malaysia, the
Philippines and Taiwan.
About Unisys
Unisys is a global information
technology company that builds high-performance, security-centric
solutions for the most digitally demanding businesses and
governments on Earth. Unisys offerings include security software
and services; digital transformation and workplace services;
industry applications and services; and innovative software
operating environments for high-intensity enterprise computing. For
more information on how Unisys builds better outcomes securely for
its clients across the Government, Financial Services and
Commercial markets, visit www.unisys.com.
Follow Unisys on Twitter and LinkedIn.
RELEASE NO.: 0613/9596
Unisys and other Unisys products and services mentioned herein,
as well as their respective logos, are trademarks or registered
trademarks of Unisys Corporation. Any other brand or product
referenced herein is acknowledged to be a trademark or registered
trademark of its respective holder.
UIS-C
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SOURCE Unisys Corporation