Maybank Investor Day

Digital: Beyond Banking – Reshaping our customer proposition

14 November 2023

Humanising Financial Services

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Agenda

1 Our Digitalisation Journey So Far

2 M25+ and the Next Phase of Growth

Agile Product Development

3 Pillar 1: Intensifying the End-to-End Customer Journey Demonstration to Follow

4 Pillar 2: Embrace True Digitalisation Among Maybankers

5 Pillar 3: Create New Value through Innovation and Partnerships

6 Our Aspirations for 2025

1
 Where We Are Today: Leadership Position in Malaysia and Significant
Growth Opportunities in ASEAN Markets

Digital Leader in Malaysia Leveraging Our Position to Scale Digitally

To Improve ASEAN footprint market share by building digital ecosystems
Leading Digital Banking Market Share
Group Digital Customer Penetration4

50.9% 56.1% 54% 2022 Sept 2023 2025

73.6% 74.1% >80%

mobile banking internet banking DuitNow QR Pay 2
transaction volume1 transaction volume 1

Strong Digital Highly Engaged Dominant

User Base Customers Insurer
Group Digital Sales Penetration

2022 Sept 2023 2025

>8.7mil ~>45% ~54%
active users 1 users who log in on
a daily basis1
Etiqa online
market share
67.2% 77.7% 85%
(direct only) 3

1. Data as of Sept ‘23 3. Data as of June ‘23

4. Group CFS
2. Data as of April ‘23 2
 Digitalisation efforts have allowed Maybank to scale in a more efficient
manner
Increase in active digital customers Significant growth in Digital CASA Explosive growth in digital transactions2
account openings over 5 years+ benchmarked against OTC

OTC Digital

+0.6x +1.2x

+229x1
+69x

+50x1

2018 Sep’ 2023 2018 Sep’ 2023 2018 Sep’ 2023

Notes:
1. Total Digital transactions vs Total OTC transactions 3
2. Digital transaction includes both monetary & non monetary transactions
 Maybank Digital users have a deeper relationship with us. They have
more savings, loans, and a higher TFA compared to non-digital users1

Greater number of CASA accounts Higher number of loans / financing2 Larger Total Financial Assets [TFA]
(digital vs non-digital users) (digital vs non-digital users) (digital vs non-digital users)

+106% +86%
+61%

Non-digital Digital Non-digital Digital Non-digital Digital

Notes:
1. As at Sept ’23 4
2. Loan / Financing product includes mortgage, auto, personal loan, ASB Financing, salary financing, education loan
 Digitally engaged customers consistently show higher deposit balances
across our segments

Consumers’ average daily deposits1 Sole-proprietors’ average daily deposits1 SME’s average daily deposits1
(digital vs non-digital users) (digital vs non-digital users) (digital vs non-digital users)

+21%
+206% +302%

Non-digital Digital Non-digital Digital Non-digital Digital

Notes:
1. As at Sept ’23 5
 Increase in digitalisation across our products and services has led to
strong growth in digital sales and revenue

Group digital sales1 penetration at 56.3% higher average total revenue2 Group CFS digital revenue3
77.7% for digital vs non-digital users increased 234% in the last 5 years

GCFS Etiqa GB

19%
75.7% +56.3% 4%

23%
Group CFS
+234% 12%

77%
84.5% 63.9%
65%

MIBG Etiqa

Non-digital Digital 2018 2022 June’ 2023

Notes:
1. Digital Sales: Products sold online against overall product sales. As at Sept ’23. 3. Digital Revenue: Revenue generated from online channels over Group revenue. 6
2. As at April’23
To catalyse the next phase of growth, M25+ employs a holistic approach
to develop key capabilities across all aspects of the Group
M25+ Aspiration

Infusing the principles of ethical banking (inclusiveness,

Orchestrating digital ecosystems and integrating
integrity & sustainability) as a strategic differentiator to drive
customer offerings across the region
economic value for the Group

“We are a values-driven platform, powered by a

bionic workforce that humanises financial services”

Upskilling & equipping Maybankers with the right Providing customers & communities with hyper-
technological capabilities, further unlocking their personalised solutions, supporting them through
potential their life journeys
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 Maybank’s digital strategy is underpinned by strategic thrusts that
focus on personalised end-to-end customer journey and regionalisation
Refined Strategic Thrusts M25 M25+
1
Continuous improvement Full agile and iterative Minimum Viable Product
Intensify Customer Centricity approach to meet customer (MVP) approach, that re-imagines end-to-end target state
needs customer journeys for delivering personalised CX

2 Front-end centric, End-to-end STP platform that integrates with ecosystems via
Accelerate Digitalisation and focused on lending and
API layer for banking and beyond banking services, guided by a
Technology Modernisation transaction,
discrete system interfaces clear technology modernisation roadmap

3 Enabled by
Regionalisation of business and product solutions; and
Strengthen Maybank’s Malaysia focused, overseas Agile Ways
technological platforms/applications, with clear leadership in
position beyond Malaysia enabled
Malaysia of Working

4
Drive Leadership in Setting aspirations and goals Expanded scope to embrace ethical banking principles and
to support Maybank as
Sustainability Agenda execution of decarbonisation strategy
Regional ESG leader

5
Achieve True Global Islamic wealth management Global Islamic wealth management, Singapore as hub and
in Malaysia, with ambition for
Leadership in Islamic Banking Middle East/ASEAN countries as spoke
global leadership in asset size
8
 We envision ourselves as Life Advisors, supporting both Retail & Business
customer journeys across their life stages by recommending solutions
tailored to their current & anticipated needs
Shift away from a product oriented-approach
towards a life-advisor model - addressing our
customers’ needs beyond banking

First Home Growing Retirement

Buying your first home (mortgage, Wealth Estate planning, Passing
insurance, interior design, Getting personalised
philanthropy, well- on
being.
renovation and solar) help to grow wealth
First job Developing the foundations to
building wealth
First credit card &
Education Wealth solutions
First account &
debit card

Born
First Car SME/Business
Setting up a
Getting help in searching New & Existing
for & buying your first Business Growth
Ventures Regionalising
vehicle
Cash Flow Insights/
End-state: Connect SMEs with
Forecasts, and
Seamless Regional Cash
Digital Solutions to assist Management & Multi-currency
an offering that captures in day-to-day
Business Dashboards &
solution offered by the Group
Recommendations
customers' life events and management &
operations
transcends individual
solutions 9
 The intended end-state entails moving from disparate platforms to a single
digital ecosystem that support customers’ life journeys beyond banking
ASEAN Countries
Full Digital Onboarding Unified Onboarding
•CASA •MAE-wallet •FD •Cards •Unit Trust •Single regional platform •Scalable User
•Insurance •MiGA •Share Trading •Will Access Management •Unified merchant
solutions •Contextual Insights &
Real Time Credit Approval Recommendations
•Maybank Home2u
•Personal Loan •ASB •Auto INDIVIDUALS BUSINESSES Comprehensive Banking
Regional Capabilities Hyperpersonalised Hyperpersonalised Solutions
•Regional Transfer •Bakong Cross Digital Retail Platform to •Regional ID •Product holdings
Border •Regional CASA STP
Integrated Business
help customers achieve their goals •Transactions •Lending/Trade •FOREX
•Regional Viewing Platform to help businesses •Cash/ liquidity mgmt •FSCM
at every stage of their life journey bridge their learning curve,
Bespoke Finance
manage and grow their Business Tools
Platform Sales businesses successfully
•Insurance •Time-sensitive •Sales & Expenditure Dashboard
Force •Single-POS reconciliation
Investment app Platforms •Cashflow forecasting •
Financial Planning & Financial ratios •Contextual
Advisory Insights & recommendations
•Digital Wealth •Tabung •Knowledge repository
• Portfolio Management Marketplace
•Islamic Wealth Management Auto Business-In-A-Box
Lifestyle •Accounting •HR/Payroll •ERP
Home •Logistics / Supply Chain •E-
•Travel •F&B
Education Commerce •Marketing •Data
•Entertainment Analysis
•Transportation •Grocery Family Services

Rewards, Loyalty & Experiences

Personalisation
•Maybank Treats •Gamification

Ecosystem Partners
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With digital capabilities and a culture of innovation as the cornerstones to
unlocking the impact of M25+, 3 distinct strategic pillars were identified
Pillar 1
Intensify E2E customer journey
through ecosystem play at scale
regionally
▪ Digitalise front to back to
strengthen banking journeys
▪ Offer Beyond Banking Services to
serve customer lifestyle needs and
business needs
▪ Expand distribution significantly
via partnerships with online and
offline players
Pillar 2
Embrace true digitalisation
among Maybankers
▪ Empower our workforce with digital
tools
▪ Democratise data across the
organisation to effectively cater to
our customers’ needs
▪ Accelerate inclusion of new tech
to improve efficiency and
automation
Pillar 3
Create new value through
innovation and partnerships
▪ Intensify our effort to enhance our
platform to serve our retail and
business customers
▪ Strategic partnerships to
collaborate with synergistic
businesses/start-ups
▪ Inculcate innovation at scale to
build start-ups and Agile culture
internally
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 The digital strategy is implemented at scale, embedding across all
businesses, with innovation, scalability and CX at the core
Organisation Strategic Strategic
Wide Initiatives Programmes Pillars Non-Exhaustive
Digital tools to increase
Democratise data & productivity & improve
analytics to improve customer interactions
decision-making
Enlarge customer
Regional Sales base by penetrating
Expand STP
Force Platform underserved
capabilities MGCC Financial Crime
across all enhancements Centre segments
products SP11:
Innovative Go- Hyper- Build a regional
To-Market personalisation SP12: ecosystem to
SP10: Hackathons
strategies to Next-Gen scale partnerships
New Maybank Agile@Scale
acquire & Tech across ASEAN
Trade App
retain SP4: SME Next-Gen
customers SP9: Sustainability Workforce

Single Business SP3: Consumer

2
SP7: Indonesia Start-up
Platform Embrace true Drive Innovation
Employees
Provide Digital SP2: Trade digitalisation Culture to accelerate
Beyond Banking Transformation 1 among
Maybankers
3 SP6: Insurance breakthroughs and
capability
offerings to Create new value
Regional Intensify E2E customer Partnership development
enrich customers’ SP1: Wholesale through innovation
Payments journey via ecosystem SP5: Asset-lite Ecosystems
lifestyle TOM and partnerships
play at scale regionally BaaS

Home Markets’ DIGITAL LEADER REGIONAL FLOWS TEST BED DISRUPTOR

Centre of Excellence and To capture ASEAN+ Corridor flows Experiment & test disruptive Leverage Group learnings
Key Focus thought leader for the Group and spearhead regional aspirations ideas to stay ahead of competitors for quick wins to grow
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 Pillar 1: Intensifying the customer journey and enhancing customer-
centricity by adopting agile methodology and continuous user research
Usability testing is conducted with
end-users to gather feedback and Prototype developed and user
further improve the design feedback is gathered

Requirements
Development in 4 Prototype for new Development gathering with
week sprints iteration developed underway partners and alignment
on product roadmap

MVP identified –
repurposing Home2U User testing MVP identified –
Pilot users test to allow staff to with pilot embedding mortgage
functionality and originate cases on group, to application within the
stability, with issues behalf of customers rectify issues home developers’
& gaps fixed platforms

Launch Launch
New Home2U Reasons for slow take up Additional insights on
New product :
consumer rate identified through New Home2U customer behaviour refined –
embedded financing
product customer surveys, application customers not willing to fill up within partner
ethnographic research for Mortgage Advisors information on the app platform
and workshops

8 mths 5 mths 3 mths

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 Pillar 1: We prioritise customer needs by delivering hyper-personalised
experience tailored to their preference in driving customer lifetime value
…which allows us to
…to proactively offer … who are engaged based on
cultivate, retain and grow
Use customers’ 360° view… products & services needed who they are and what they
customers through their
by customers.. prefer
lifetime

Holistic understanding of the Advance analytics to identify Engage customers seamlessly and Maximise long-term customer
customer by combining internal customers’ needs and offered discreetly through their preferred returns, while acting within the
and external data, beyond tailored solutions throughout channel in a timely and Group’s risk & capital constraints
banking their entire life journey personalised manner

Cash
Flow Revenue
Customer A
Customer A
Customer A
Demographics Social
network

Product Customer B Customer B

Health data Customer B
Analytics

technology
holding
+

Marketing
Customer engine
360° View - Time
Financial Lifestyle Customer C Customer C
Customer C
transactions activities and traits Cost to
Cost to service
internal data external data
Customer D
acquire (including
Customer D
Customer D risk costs)

Continuous learning and feedback loop to enhance offering

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Pillar 1: Digital capabilities are now delivered in shorter sprints, resulting
from broad-based adoption of agile methodology across the organisation
We are leveraging our agility to
increase speed-to-market, from Tech Enablers, such as the Maybank API
We are launching new features 18 months to 6 months for our platform, work hand-in-hand with Agile
every 4 weeks for the MAE MY app Cambodia & Philippines M2U apps
methodologies to enable us to deliver
differentiated experiences and best-in-
Sama-Sama Lokal class solutions at an accelerated pace

and over 30,000 merchants

Leisure & Travel Self-service API-First

portal Approach

Rewards
Regional APP
Ready Modernisation

Agile Methodology is practised across the organisation, allowing us to deliver capabilities such as
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Halal2u, Etiqa One-Click-Renewal and M2E Global in short sprints
 Pillar 1: By placing customers at the heart of the home ecosystem, overall
mortgage origination has increased 41%1 YoY - with digital originations at 50%1
Reduction in home mortgage
23% application processing time

Total number of properties Of our sales personnel have

2,700 available in the MAE marketplace
92% adopted the platform

Partner Platform
● Streamlined application process, beginning at
partner’s platform - during property booking process
● Removed hassle of duplicate form filling and
submission of documents

Sales Force App

● Enjoy assisted applications

● Quicker, more personalised
Maybank’s API support by customer
MAE
Marketplace allows representatives, anytime,
● Browse list of properties unified integration to anywhere
from developers external partner enabling
● Receive property seamless user experience
recommendations across partners Agile Product Development
● Track application status Demonstration to Follow
Notes: 16
1. As at June’23
 Pillar 1: We continue to deepen relationship with SMEs by servicing
their needs at every stage of their growth

Digital SME Loan Merchant Services Accounting Software Integration

Enable accessible financing to SMEs, developed Empower our business customers to manage Solve the pain points of our SME customers,
using Machine Learning Capabilities their operations, freeing up time to focus on allowing them to more effectively use
Coming soon
growth accounting software

MVP 1 - Bank Feed – Q4’23

Fully-Digital Connecting SMEs’ bank accounts
(~10min approval & disbursement) via API to Accounting software for
bank reconciliation
Disbursed loans
To >25k SMEs
39k+ 690k+ Payment Initiation – Planned
>RM 2.8bil1 Sama-Sama QRPay Allowing SMEs to initiate payments
Disbursed to SMEs Lokal Merchants Merchants through for payroll, payment from
buyers etc
Up to RM500k
disbursed per loan Revenue

Credit Bureau Data

POS Integration – Planned
Apply Online
Loan Repayment
100k+ Allowing SMEs to reconcile their
Owner Demographics Cards Merchants sales via Maybank payment
Targeting to launch channels through integration with
QR Payment Data
third party POS
upcoming hybrid Card Payments
model, RM20mil
per loan
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Notes:
1. As at June’23
Pillar 1: To enable our frontliners to have more personalised, meaningful
engagements with our customers, we have built the BancaEaSE tool

Extract financial data with

 customer consent

Allow customers to include

 non-MBB data for
completeness

Recommend best-suited
 products for our customers

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 Pillar 1: A regionalisation approach to increase speed to market whilst
embracing localisation for unique demands of our diverse user base

Democratise Investing
MAE across ASEAN Maybank Beyond Borders
across the Region

Open a Maybank account instantly without requiring a Connecting your banking needs across To launch the newly designed Maybank Trade App, that
visit to the branch! Expand beyond banking to serve countries, open foreign account by prioritises users experience by simplifying steps, and
broader customer needs leveraging on local KYC modernising the overall look and feel

Currently available in Malaysia and Singapore. Single view of all accounts held in Malaysia and Targeting to launch in Malaysia, Indonesia, &
Targeting to launch in Cambodia and Philippines in 2024 Singapore, with real-time transfers between linked Singapore in 2024
accounts. Targeting to include Cambodia & Philippines
by 2025
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 Pillar 1: As a key enabler, Tech infrastructure is being modernised
to enable seamless integrations within and beyond the bank
Business

Beyond Banking Monetise and

Goals

Broadening Rapid Pilot and Regional bionic

services & enable data Speed to Market
customer reach Scale workforce
products driven decisioning
Outcomes
Delivery

Developer Employee
Big Data & Cloud Infra &
API and App Modernisation experience & experience &
Analytics Automation
ecosystem collaboration
Business
Impact

3X faster in 5X faster in 2X faster in 20% higher

2X faster in enabling APIs and digital enabling data and enabling tech developing new
employee
capabilities rollout to new markets engagement &
solutions infra services capabilities
collaboration

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Pillar 2: True internal digitalisation among Maybankers is accelerated
via multi-disciplinary agile initiatives across business functions
Non-Exhaustive
Agile DNA

Break down silos across Embrace ethically

Inculcate a "fail fast" Adopt an MVP approach Be open to collaborations
sectors & geographies to differentiated offerings in
mindset; to initiatives, enabling with partners through
collaborate and create solutions, propositions and
value pace over perfection rapid course correction integrated operating models;
synergies dealings, across the Group

“Deep Agile” For Large Multi-disciplinary Projects “Light Agile” For homogenous Run-the-Bank subsectors

Fraud and Compliance Branch end-to-end process reengineering

Omnichannel Transformation
Enhancement Average Acc
Build best-in-class capabilities to Opening Time
45% Reduction
Reimagine the way Maybank interacts
detect financial crime and protect
with customers Week 1 Week 15
customers
tNPS Score +87% +97%
Collections Modernisation Human Capital Digital
Utilise automation and conversational Transformation (myHR2u 2.0) Credit Admin Centre to improve Post-Loan-Approval Process
AI to improve productivity
Potential reduction of At the heart of Maybank’s workplace Week 1 Now
and work culture futurisation Shortened
30% of call volume Disbursement
60-90 days 45 days

We are making the Agile way of working pervasive across the group beyond M25+, making the above examples of Operational
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Improvement Processes a permanent feature - helping the various sectors identify and complete both Deep & Light Agile in short sprints
Pillar 3: The Customer Experience and Innovation Lab will act as catalyst
for innovation at scale, through ethnographic research on consumer
behavior, pain points and users’ journeys

I(deas) of the Tiger Ideathon
Incubation Hotbed
40 Teams Nominated (153 Pax)
Run & Build E2E experiments/ prototypes for 6 days of idea refinement & design thinking
workshops
long-term hypotheses, with dedicated Tech 1.2k Registration for Ideathon & showcase
resources & budget
Winning Ideas
1. Platform for part time job seekers
2. EV ecosystem offering SME financing
Maybank Elevator Pitch Challenge (MEPC) 3. Level Up Financial Literacy via an
interactive & gamified tool in MAE
>90 participants
4 days of workshop and pitching practice
I(deas) of the Tiger Ideathon 2.0
Winners
Centre of Excellence
Organise UX activities such as
ethnographic research, focus group,
usability testing, ideation workshop,
customer shadowing and more, to
discover and validate the success of
business ideas
Co-creation Accelerator
Provide end-to-end support to address
/ solving business problems through
research, design, development, and to
implementation
Unveiling user insights for better
decision making

Top 3 winning Ideas:

● Automated Tax E-filing
● Voice Activated Banking
● Enterprise Knowledge Chatbot leveraging GenAI
Happening Now!
2-day virtual workshop with 60 hours of
hacking starting from Tuesday at 9 am
300 Customers and users engaged in
our ethnographic research sessions
23 Customer/User journeys mapped
46 Personas Mapped

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Pillar 3: Partnerships and strategic collaborations with start-ups and
synergistic businesses that will accelerate our digital aspirations

Explore / Experiment New Enable Early Adoption of Emerging

Business Models Tech & Capabilities

e.g. Co-creation of Islamic Banking-as-a-Service product e.g. Create robo-advisory capabilities for Maybank Wealth Management

Access to New Markets & Expand Network to Secure

Customers Scarce Talent
e.g. Access to customers in other regions (e.g. Indonesia) to build a larger e.g. Access to AI/ML engineers, typically scarce in financial industries
loan book

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 With our digital strategy underpinning M25+, Maybank
aspires to be the leading digital bank in ASEAN by 2025

Enhance Improve Reduce Accelerate

Customer Experience Efficiency/ Productivity Errors Breakthrough Innovation

Intensify E2E customer

Embrace true digitalisation Create new value through
journey through ecosystem
among Maybankers innovation and partnerships
play at scale regionally

2022 Sep’23 2025 2022 2025 2022 Sep’23 2025

Digital Customer Penetration1 Customer Experience Beyond Banking Interaction2

73.6% 74.1% >80% NPS 24

On track
>75th 19% 35% 40%
percentile

Digital Sales Penetration Time to Market Next Gen Workforce

On track
24
67.2% 77.7% 85% ~2-4x 13%
On track
25-30%
acceleration in time-to-market

1. Group CFS
24
2. Beyond Banking categories: Expenses, festive, tabung, movie, promotion, property, loyalty, food, split bill, articles, SSL, flights, travel, bus, train
Thank You

Humanising Financial Services