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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.

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ENCASH showcases RTM in the Philippines

KAL customer, ENCASH, recently showcased the RTM at the Rural Bank Association of the Philippines’ (RBAP) 60th annual convention in Manila.

The event took place on June 10-11 and featured an RTM booth within which attendees could view demonstrations or try out the device for themselves.

ENCASH is the first independent ATM deployer in the Phillippines and counts around 150 of the country’s 500 rural banks as customers. It owns and runs over 300 ATMs in rural locations across the region.

As the RTM operates at one tenth of the running cost of an ATM, ENCASH believes it has huge potential in the Phillippines and was absolutely delighted with the response of those who visited the booth, particulary when its president, Eric Serverino, showcased its potential with demonstrations for current customers.

KAL was represented at the event by software engineer, Grace Uy, and Southeast Asia sales manager, Sharath Padmalochanan.