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Alliance Bank Named IDC Financial Insights Best Banks 2020 in Asia Pacific

Kuala Lumpur, 25 March 2020 - Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) was recognised by IDC Financial Insights as one of 20 Best Banks 2020 in Asia/Pacific. Alliance Bank is one of only two Malaysian banks named in the list this year.

IDC Financial Insights’ annual research initiative, 20 Best Banks 2020, identifies financial services institutions in Asia Pacific that have undertaken successful digital transformation to prepare for the challenges of the new decade. IDC notes banks that have distinguished themselves in the best use of technology to positively impact the business in three key areas: customer engagement, operational efficiency, and the creation of new business models.

“Alliance Bank has taken the lead in optimising digital channels to drive revenue and expand acquisition. For Alliance ONE Account, the use of data analytics in areas throughout the marketing journey (of digital audience targeting, creative messaging, and channel optimisation) is one to note. The Alliance ONE Account and its Branch-in-a-Tablet projects, which were submitted for IDC Financial Insights Innovation Awards 2020, are clear examples of digital transformative strategies to create truly omni-channel experiences that transcend the branch network,” said Ms. Darshiniy Selvaratnam, senior market analyst, IDC Financial Insights Asia Pacific.

“We are proud to be included in the Financial Insights’ Best Banks 2020 in the Asia Pacific by IDC. The recognition is a testament that we are on the right track towards delivering fast and simple solutions for our customers,” said Mr. Joel Kornreich, group chief executive officer of Alliance Bank.

Alliance ONE Account is the Bank’s simple, convenient, and hassle-free loan consolidation service for individual home owners. Its Branch-in-a-Tablet solution provides customers the ability to open a bank account, activate their banking services, and access their mobile banking services in as little as 15 minutes. Similarly, this digital innovation is applied to its enterprise solution, enabling business owners to open a business banking account in “1 day, 1 visit”.

Over the past three years, the Bank has rolled out several market-leading digital propositions including Alliance Cash2Home, its mobile foreign remittance app, its recently launched digital Personal Loan which offers fast approval in as little as 10 minutes, and digital SME Loan, which offers business owners 24-hour approval-in-principle for loans of up to RM50,000.

For further information on Alliance Bank solutions, please visit www.alliancebank.com.my.

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