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AmBank Eyes 50 Per Cent Of Car Finance Applications To Come Via Mat
Last update: 27/11/2017

KUALA LUMPUR, Nov 27 (Bernama) --†AmBank (M) Bhd is aiming for 50 per cent of its car finance applications to come via its latest innovation, Mobile Application Terminal (MAT)†within one year of its implementation.

Currently, the bank received 15,000 manually†applications†monthly, said†Group Chief Executive Officer,†Datuk Sulaiman Mohd Tahir.

He said MAT†has been deployed since July 1, 2017 among†138 AmBank†sales advisers.

"We aim†to strengthen our†brand presence in the car†industry market by positioning AmBank as the 'top-of-mind' brand among†car buyers through MAT," he told reporters after the official launch of MAT here today.

Sulaiman said†MAT allowed users to submit loan applications, capture documents' images as well as obtain immediate approval within 30 minutes if all required conditions were fully met.

"MAT will also offer a new level of customer's experience, with car financing applications are able to be performed at all convenience," he said.

He said MAT was embedded with biometric reader which allowed the†customer to perform thumbprint verification.

It has also a calculator to estimate monthly instalment and generate e-forms with digital signature's, he said.

On the hire purchase loan, Sulaiman said, the group was on†track to achieve the full year (2017) target of mid-range single-digit growth.

"The intention is to grow all our customer finance in the areas that we want to grow and car finance is one of the segments we targeted," he said, adding that AmBank's†car†finance market share currently stand at 11 per cent.



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Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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