RHB Bank’s Banking Solutions: Credit Card & More
RHB is today one of the largest banks with integrated financial services in Malaysia. Given that they plan to increase the size of their market further, RHB Bank has tapped into Brunei, Indonesia, Singapore, Laos, Vietnam and a few other countries within South East Asia. Knowing quite possibly the most effective way to compete is actually by giving extra value to the customers, the RHB Islamic banking group has begun offering multiple banking facilities to both individuals and small businesses.
Creation of current or savings account by individuals and businesses is a necessity. To attract smart consumers, RHB Bank has offered a reasonable interest rate account holders will enjoy through depositing money into their respective accounts. As they quite provide traditional transaction facility through ATM and CDM, the Bank had also launched RHB Now, their online banking solutions to boost efficiency.
As the Bank witnesses the shift of trend from the traditional purchasing method using cash to online purchasing, they noticed that there’s an elevating market demand for credit cards. Depending on the data from surveys conducted that suggests the public’s increasing worldwide recognition towards the online purchase, it’s undisputed that offering credit card solutions is amongst the primary strategy RHB Bank needs to be pushing forward-and they did just that.
Feeling the importance to close the gap between demand and supply, RHB Bank goes further, and they have begun offering credit card services with multiple benefits as opposed to the other banks, that include cashback reward for cardholders when they buy more using a credit card.
For small business owners and organizational entities, RHB Bank provides corporate banking facilities. They’re able to engage with the Bank either for investment banking or perhaps to make a business loan. Generally, if the customers are interested, they even can subscribe to RHB Bank’s online cash management services.
Small-medium enterprises can undoubtedly make use of the wide selection of services made available by RHB Bank, particularly when it involves taking loans to help increase cash flow and further develop the business. RHB, besides, has begun innovating by offering retail solutions to those who need it, which can include e-commerce players.
Nonetheless, the need for Islamic banking facilities hasn’t ever been overlooked, especially when there is a high demand for Shariah-compliant products and services in the Malaysian market. That’s why the Bank makes sure that products which comply with the Shariah requirement, including Islamic wealth management services, Islamic treasury, corporate banking, and unit trust are offered.
The Bank has seen a significant 24 annual brand value growth in 2016, which places them as among the 5 top domestic banking players. Seeing the future market growth potential, RHB Islamic banking has equipped themselves with more rigorous and effective tactics to grow further its value and market share in the time to come.