Maybank has announced a new banking branch aimed at Gen Y and Gen Z university students, as the Malaysian bank seeks to reposition itself and meet the demands of a burgeoning millenial customer base.

Maybank has announced a new “campus lounge” branch aimed at Gen Y and Gen Z university students, as the bank seeks to reposition itself and meet the demands of a burgeoning millenial customer base.

Touted as Maybank@Campus, the new bank branch was first unveiled at Monash University Malaysia, Bandar Sunway in Petaling Jaya on Monday.

Speaking at the launch, Maybank’s Group President and CEO, Datuk Abdul Farid Alias, said that the aim of the initiative was to reach out to younger generations and help “fulfil their financial needs” as the bank looks to create a “seamless” experience for its millenial customers.

“Our lounge is user-friendly and provides seamless experiences for our young customers where they can decide when and how they interact with the bank,” Datuk Farid said.

The Maybank@Campus lounges will offer banking services on ipad devices and customers will be able to complete everyday banking activities such as account transactions, signing up for debit cards, Maybank2u or One Solution services – including registering applications for selected insurance products and Skim Prihatin Pendidikan 1Malaysia (SPP1M) loans.

Datuk Farid said he hopes the lounges will be a centre for financial literacy events such as Investment Celeb Trade and monthly talks on financial planning by a panel of experts across the financial services sector.

“This new outlet includes an interactive station that provides the campus community with on-site digital financial accessibility,” he said.

The Maybank@Campus lounges are also seen as a key platform for cross-industry collaboration, as Maybank looks to consolidate its strategic partnerships and provide products and services from a variety of telecommunications organisations, entertainment companies and retail shopping portals.

“We understand that every customer has different needs and lifestyles, whether they are senior citizens, baby boomers, Gen X or Y or Z,” Datuk Farid said.

“We are confident that Maybank@Campus will make banking as convenient and accessible as possible for the young generation. As a bonus, it is also open to faculty and administrative staff of Monash or any member of the public who come to the university campus.”

With a focus on regional expansion, Maybank is expected to roll out its new campus branches across its key home markets in Asia Pacific, with five expected to be opened at selected universities in Malaysia in the coming months and up to 12 Maybank@Campus lounges over the next 2 years.