CIMB introduces personal profiling for financial planning

Source: CIMB

CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) today launched its CIMB F.I.R.S.T., a platform which offers holistic financial solutions unique to each customer’s needs based on the recommendations of a virtual financial ‘adviser’.

CIMB F.I.R.S.T. - which stands for Finance, Insure, Returns, Save and Transact - enables each customer to choose the online profile that best describes him. F.I.R.S.T. will then suggest a proposition covering savings, financing, insurance, investments and credit cards (for transactions). This removes a lot of guesswork and empowers customers to take the first step towards systematic financial planning, at whichever stage of their lives.

Customers are free to pick and choose any combination of products now or later, based on their requirements. Many of the solutions like savings accounts and credit cards can be applied online; while others, like insurance and investments, require face-to-face consultation with a CIMB official at a branch closest to the customer. Customers without internet access can go directly to any CIMB bank branch to begin their financial planning journey.

Samir Gupta, CEO, Group Consumer Banking, CIMB Group said, “The new CIMB F.I.R.S.T. solutions yet again delivers our brand promise to Forward customers’ aspirations and dreams, by recommending the best and most holistic approach to start their financial planning journey. We recognise that each customer has unique needs, which will also change as they go through different life stages. Through CIMB F.I.R.S.T, we aim to be our customers’ financial solutions’ partner in their life journey, so they can have the peace of mind to lead a more fulfilling life. In helping to promote Bank Negara Malaysia’s financial inclusion agenda, we also look forward to CIMB F.I.R.S.T. complementing our financial advisors in meeting customers’ requirements for information and advice in real time”.

CIMB F.I.R.S.T facilitates the needs of customers from various profiles, including students, single professionals, married persons, retirees, expatriates and entrepreneurs. It is powered by a rules-based AI engine which will be continuously enhanced and fine-tuned over time to offer more and more relevant customised financial solutions to suit the needs of each individual. In future, each customer’s products and services’ history with the bank will enable CIMB F.I.R.S.T. to also calculate favourable rates and fees applicable to each individual customer.

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