RHB Bank opens online banking to businesses

RHB Bank chairman Datuk Azlan Zainol (centre) pressing the launch pad to officially launch Reflex Cash Management, an Internet banking service for businesses. With him are RHB Bank CEO Michael J Barrett (left) and Head of Technology Banking RHB Bank Tengku Mohamad Rizam Aziz.

Kuala Lumpur, 10 August 2007: Internet banking, long utilised by retail customers for the convenience it offers, has now been extended to businesses under RHB Bank Bhd’s latest initiative – the RHB Reflex Cash Management.

Branded simply as Reflex, the new facility has attracted more than 3,000 corporate, multinational, commercial and SME customers since it was introduced to them recently.

“Reflex caters to most of the banking needs of our business customers. That has made it very attractive to large and small companies that already have accounts with us,” said Chairman of RHB Bank, Datuk Azlan Zainol at the official launching of the new facility here today.

Just like Internet banking for retail customers, Reflex enables businesses to conduct their banking from the desktop or laptop, in their own offices or any location where Internet connection is available.

With Reflex, company officials can now log onto their accounts on the Internet and obtain updates on their company accounts and perform various banking transactions such as checking account balances and bank statements.

In addition users can gain access to other services such as Reflex eHR 2, an RHB online payroll service which also enables employers to submit EPF, SOCSO and income tax payments.

For businesses that wish to conduct more of their banking online, Reflex also enables them to perform customised transactions such as funds transfers, InterBank Giro and even bulk payments.

“For the niche customers, Reflex enables them to check their account status and send payment instructions and trade applications including Letter of Credit, Banker’s Acceptance, Bank Guarantee and Direct Collections. Those that have international dealings can also utilise Reflex to perform telegraphic transfers,” Datuk Azlan said.

Reflex was introduced to the business community in stages, beginning with the Enquiry module and it has since moved on to a full-fledge Remittance module. The progress and enhancements that have been made to the system have been based mostly on the needs of customers.

“While a lot of the research has been done before we introduced the Reflex, the feedback that we received from customers has also contributed significantly to how we have developed the service,” Datuk Azlan said.

“Our customers have informed us that they are beginning to enjoy banking, now that they can do it during the weekends and at their own convenience. Even their employees are happy. They no longer have to worry so much now about attending to customer queries during the holidays,” he added.

Customers are attracted to the convenience offered by Reflex. They can now conduct their banking outside office hours seven days a week. It also serves as an effective cash management tool as instant account information will enable customers to quickly decide how they can utilise their funds. That effectively puts financial control firmly in their hands.

To ensure security, the standard features such as the highly secure encryption of the 128-bit Secure Socket Layer (SSL), firewalls, dual administrator system and an audit trail are in place.

For the additional security that includes the use of tokens to generate system passcode access, RHB Bank has also introduced the unique Host Return Code, a feature that identifies the authenticity of the website that a user signs on to, to give him that added assurance.

“The convenience that Reflex brings to banking for businesses will, we believe, enable them to carry out their transactions with economies of scale, thus improving efficiency and raising productivity,” Datuk Azlan pointed out.

Issued on behalf of RHB Bank Berhad by Group Corporate Communications, RHB Capital Berhad. For more information, please call Yeoh Guan Jin at 012-3835027 or 03-92802536 or Akmal Baqi at 012-6658704 or 03-92802776. For more information on RHB Bank, visit www.rhbbank.com.my