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FINANCIAL TECHNOLOGY | Cesar Tordesillas, Malaysia

BSN targets 300,000 Internet banking users by end-2011

Bank Simpanan Nasional is eyeing 300,000 users to its Internet banking by end of 2011, with about RM6 million transactions to be done online.


Each subscriber may conduct between RM1,000 and RM2,000 transactions over the the bank’s internet banking or MyBSN, according to Deputy chief executive (consumer banking and business development) Yunos Abd Ghani. 

Together with 5,000 BSN staff who have subscribed to MyBSN during its final test, the bank’s internet banking now has a total of 7,000 users.

“Currently, MyBSN users are able to do normal banking transactions such as fund transfer, bill payment, reload of prepaid and others. In the second phase, which is next year, they can do online shopping,” Yunos explained.

BSN has invested RM5 million to develop the internet banking service, which can be accessed via

Yunos said BSN decided to only launch its internet banking now as its customer profile has changed.

If previously, the bank’s customers were mainly the non-urban people who were not so IT-savvy, now it has more younger customers.

Yunos however said BSN that does not expect its Internet banking service to be a major revenue contributor.

“We are providing services for the customers as well as to retain our customers,” he said.

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