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Malaysian Bank Customers Ready to Embrace Artificial Intelligence and Automation in Digital Banking - Unisys Banking Insights SurveyKUALA LUMPUR, Malaysia and BLUE BELL, Pa., June 13, 2018 /PRNewswire/ -- New research from Unisys Corporation (NYSE: UIS) into Malaysia's banking industry reveals that Malaysian consumers are willing to embrace new bank services based on emerging technologies such as artificial intelligence (AI) and machine learning. They are also willing to support data sharing in an Open Banking environment, but only if privacy and security concerns are addressed. Unisys APAC Banking Insights – Banking on the CX Factor is a study about the attitudes of banking customers in Malaysia, Australia, Hong Kong, the Philippines and Taiwan. This year's report explores how consumers feel about banks using AI to assess eligibility for credit cards and home loans, as well as sentiment toward banks sharing data with non-bank entities to offer new services - known as Open Banking. Customer Frustrations "With bank queues the top annoyance for Malaysian bank customers, there is a huge opportunity for Malaysian banks to move more customer interactions to digital channels, including mobile. Malaysians are keen to use digital services but they seek a seamless omnichannel relationship so that they can start a transaction in one place and pick it up in another without having to start over. In addition to relieving pressure on the branches, artificial intelligence and machine learning technologies can be used to help banks deliver targeted and relevant online services across all channels," said Richard Parker, vice president financial services, Unisys Asia Pacific. The survey reveals that Malaysian bank customers have a strong appetite for tech innovations to enable digital bank services – depending on the type of transaction. Fifty-two percent of Malaysian consumers are comfortable with their bank using software and algorithms to assess online credit card applications. While only 39 percent are willing to use this for home loans, it is the second highest level of willingness of the five countries surveyed, behind the Philippnes. Readiness for Open Banking Forty percent of Malaysians support their bank sharing their personal data with other companies to access financial products, the second highest support in Asia Pacific. However, almost as many, 38 percent don't support it, citing concerns about privacy and security. Malaysia recorded the highest level of desire to keep personal information private. "For Open Banking to take off in Asia, banks must address customer concerns about how they protect customer data – not just in the bank, but across all of the departments, partners and agencies in the value chain. Doing business in the 21st century requires dynamic software that adapts to business trends and evolves with security concerns. Unisys' Retail Banking Delivery platform, Elevate™, is secured with Unisys Stealth®, an identity-based microsegmentation security software that allows banks to microsegment and conceal critical assets and establish encrypted channels for secure user, application and system communication," said Parker. Unisys is helping banks to address these concerns with Elevate, an end-to-end, digital banking software platform and suite of applications designed to help financial institutions deliver an instantly secure, omnichannel banking experience to their customers. Importantly, this means customers will be able to pay their bills on the go, transfer funds and apply for loans and mortgages anytime, anywhere – regardless of whether they are doing so on a mobile device or tablet, via an internet browser or inside a branch. More than 500 financial institutions worldwide rely on Unisys solutions. For more information on Unisys' financial services capabilities, please visit http://www.unisys.com/industries/financial-services. For more information, download the full Asia Pacific Banking Insights survey results and infographics here. Research Methodology About Unisys Follow Unisys on Twitter and LinkedIn. RELEASE NO.: 0613/9596 Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder. UIS-C View original content:http://www.prnewswire.com/news-releases/malaysian-bank-customers-ready-to-embrace-artificial-intelligence-and-automation-in-digital-banking---unisys-banking-insights-survey-300665163.html SOURCE Unisys Corporation |