KUALA LUMPUR: CIMB Bank expects some 200,000 take-ups for its new online offering, the Kwik Account, by end of 2014.
This target would drive the 20 per cent projected growth in CIMB online customers, which currently stands at 2.5 million people.
"We are targeting 200,000 take-ups of the Kwik Account, which will be added automatically to our CIMB Clicks.
"We have around 2.5 million CIMB Clicks users, with a 20 per cent growth per year, and this new offering will contribute to that," said its deputy group chief executive and head of consumer banking, Renzo Viegas.
The Kwik Account, which can be opened without visiting a bank branch, is designed with the Gen-Y in mind. However, it is open to anyone with a Malaysian mobile number.
It is also the first account in Malaysia that can be opened online and which will be instantly activated upon successful application.
The Kwik Account is accessible via CIMB Clicks and CIMB Clicks Mobile App on Apple and Android mobile devices.
"It is all about convenience and Kwik Account offers that by allowing customers to open an account through mobile phones or other devices, with no prior banking relationship and no minimum deposit required," Viegas told a media briefing after the launch of Kwik Account and Kwik Money Transfer yesterday.
Kwik Money Transfer allows customers to transfer money from their Kwik Account to any CIMB account by keying in their mobile number or email, without the hassle of having to remember their account number.
"This is essentially a pre-paid account and as per Bank Negara regulations, deposits have been capped at RM4,999," said Viegas.
On the bank's loan growth, he said CIMB is experiencing faster-than-industry growth.
"We are on track to meet our target of double-digit (loan) growth by year-end," said Viegas.