Bank Rakyat aims over 100,000 graduates to register with DuitNow by end 2020

Last update: 14/11/2019

Exclusive report by Muhammad Ekmal Hakim Abdullah

ARAU, Nov 14  --  Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) targets to have more than 100,000 graduates register with DuitNow via its internet banking service, iRakyat, by the end of 2020 through the BR DuitNow@Uni campaign.

The campaign, a collaboration between Bank Rakyat and Payments Network Malaysia Sdn Bhd (PayNet) and institutions of higher learning, was aimed at raising awareness among the younger generation about financial transactions through the method.

Bank Rakyat's chief retail banking officer Dr Mohammad Hanis Osman said the initiative was in line with the bank’s digitalising concept based on the implementation of Bank Rakyat’s five-year plan to ensure the bank remains relevant.

“Through the cooperation with PayNet, we believe the introduction of this campaign (BR DuitNow@Uni) is the best medium in Bank Rakyat's efforts as a sustainable bank, to integrate sustainability into the bank’s business strategies.

“It's aimed at millennials like students,” he told Bernama after the opening of the 14th Convocation Festival (FESTKON) of Universiti Malaysia Perlis (UniMAP) here last night.

Raja Perlis Tuanku Syed Faizuddin Putra Jamalullail, who is also the vice-chancellor to UniMAP was present to grace the BR DuitNow @Uni Campaign.

UniMAP is the first public university to launch the campaign.

Mohammad Hanis also said the BR DuitNow@Uni campaign will conduct roadshows to several institutions of higher learning throughout the country.

Meanwhile, PayNet’s deputy director Khairuan Abdul Rahman said, the company aims to register 9.5 million customers by the end of next year, to complement the 7.7 million customers it has at present. 

The DuitNow service is available at almost all local banks as well as foreign banks operating in the country, he said adding that those interested can register via their mobile phone or identity card number.

“We’ve launched DuitNow in January this year. Its main objective is to reduce the usage of cash and cheques. The public can register (DuitNow) through the bank of their choice and it is free, ” he said.