Bank scoops top innovation award thanks to the KAL RTM
KAL’s RTM has secured an innovation award for Malaysia’s Hong Leong Islamic Bank.
The Asset’s Triple A Digital Awards recognise financial institutions and technology firms that have excelled in innovating and developing a unique digital experience for customers across the Asia-Pacific region.
This year’s Most Innovative ATM Project award was given to Hong Leong Islamic Bank for its creative use of KAL’s RTM whereby the bank’s customers use the RTM to make religious charitable payments.
For the first time, Muslims in Malaysia have been able to pay their annual charitable fee - known as Zakat - using a debit card at the RTM, rather than cash. Government organisation Zakat Selangor was previously collecting all of the money in cash, which meant large volumes of cash being held on site. The government’s cashless program has encouraged the organisation to use the RTM to collect these funds via debit cards.
Christopher Martin, of Hong Leong Bank, welcomed the award, saying: “Congratulations to everyone who was involved in the cashless ATM project.”
Online magazine The Asset is Asia’s leading financial publication for issuers and investors.