International Currency Exchange (ICE) has been chosen by CIMB Bank, to enhance the level of customer service at its bureau de change outlets.
CIMB Bank is the commercial banking arm of CIMB Group, Malaysia's second largest financial services provider. ICE will also manage the bank's retail foreign exchange business and play a key role in its future expansion and development. This contract reflects the extensive expertise ICE commands in the forex retail market, making it the first choice for many partners around the world.
Under the new agreement, ICE will provide its specialist knowledge, combined with operational and business processes and systems relating to retail forex. ICE will also help CIMB to develop staff capabilities through tailored training programmes, enhancing efficiency and productivity to improve customer service and delivery systems. CIMB Bank will also benefit from ICE's global brand recognition, allowing it to attract business, particularly with inbound travellers at the airport and foreign tourists.
Victor Jee, ICE Regional Head, Asia Pacific comments, "This is an exciting new contract for ICE, as the retail forex industry is showing tremendous potential, with an influx of foreign tourists and business travellers. We are delighted to be working with CIMB Bank, building on the Bank's strengths and networks to develop a major presence in this region, providing high quality service and products within the retail forex sector."
Peter England, Head of Retail Banking for CIMB Bank adds, "This is a great opportunity for us to enhance and expand our retail forex business. The first phase of the partnership will see ICE managing the retail forex business, with a focus on our bureau de change service. We look forward to rolling out innovative forex products in the second phase and working together to deliver better value to our customers."