Press Releases

The Association of Banks In Malaysia

Banks enhancing operational efficiency to serve customers better

The Association of Banks in Malaysia and The Association of Islamic Banking Institutions Malaysia wish to clarify that the closure of bank branches is an ongoing effort to enhance operational efficiency of banks.

The advancement in technology and growth of electronic payments has led to the convenience of conducting banking transactions without having to visit a physical bank outlet. Transactions are being increasingly automated to promote better efficiency and expediency. In this environment, banks are focusing on digital platforms, as opposed to physical branches in delivering their services to consumers and businesses.

While there is a shift to electronic platforms, banks remain focused on delivering quality banking services which will not be compromised. Banking institutions will continue to provide financing to support all sectors of the economy. Banks will also ensure that all segments of the population including those in the underserved areas will have access to banking services.

In the new financial landscape, the banking sector remains optimistic on the prospects of employment in the industry. To enhance productivity and efficiency, bank staff may have to be redeployed and reskilled to fit the constantly evolving resource requirements of the industry.

The banking industry will be increasing its focus on areas such as risk management, fraud monitoring, regulatory reporting, Anti-Money Laundering compliance, cybersecurity and information technology.

Our member banks have their own set of strategies and plans with regard to managing its manpower requirements based on their respective business objectives. The banking sector is one of the higher productivity, knowledge-based sectors in the economy with the composition of high-skilled jobs at 72% of the workforce in the financial sector.

ABM Connect | Toll-free on 1300-88-9980

ABMConnect provides an avenue for consumers to clarify any doubts and verify information on conventional banking issues.

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The Association of Banks in Malaysia (ABM) was formed in November 1973. Our membership is currently made up of the 26 commercial banks operating in Malaysia.

Since its inception, ABM has been actively involved in various initiatives to promote and strengthen the commercial banking industry to become more resilient, effective and efficient.

Tel No. : +603-2202 7223
ABMConnect : 1300-88-9980

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