Digital Money Management

The digital era has brought along with it a whole lot of convenience in many areas, but along with those came some measure of risk. Yet from the way we shop to even how we book transportation; these new technologies have given us so much more choices than before.

Digital changes the way we use our finances

Thanks to eCommerce, the Internet and much improved logistics, have enabled us to buy a larger variety of products online. Over the past few years, companies such as Alibaba, Lazada, Shopee and other online shopping sites have risen to provide an alternative to online shoppers who once had few choices.

In order to take advantage of these avenues of online shoppings, you will need to have access to your online banking account, a credit card, or even a payment service such as PayPal.

Using digital to manage your finances

To suit the digital lifestyle of the customers today, banks of the world today have undergone transformation. This is intended to enable their customers to manage their money remotely and securely

In fact, thanks to multiple security processes being put into place, digital banking is much safer than ever before. Take for example the RHB Now Mobile Banking App. For your safety and security, the app has been built with multiple layers of security to help protect your transactions. Thanks to this app, you can now quickly perform many standard banking functions online. This could be almost anything, from checking your account balance to transferring money between your own or other accounts.

These a Personalised Secret Word to authenticate your identity, the use of One Time Passwords via SMS (Short Message Service), firewalls that protect the programs from any unauthorised or malicious intrusion, as well as encryption that keeps your data safe during transmission. Of course, another major benefit of using digital banking is that you can get a complete overall picture of your cash flow anytime you need it. RHB My Money Tools extends the functionality of RHB Now further, giving you even greater control over your money. With a unified dashboard, RHB My Money Tools lets you plan your expenses more effectively. Additionally, an enhanced security feature – RHB Now Secure Plus is integrated to the mobile banking app to give customers peace of mind when performing transaction or transfer for RM10,000 and above.

Life can be so much easier with digital

For those who have already embraced digital banking, they probably can take one look at their much slimmer wallets to realise how much life has changed. No more wads of cash, where payments made through online channels and yes, even using smartphones as digital wallets.

You can even apply a housing loan / financing through the app and keep track of the applications anytime, anywhere thanks to the RHB MyHome App. The days of making multiple trips to apply for a housing loan / financing are the thing of the past. Whether you’re a first-time home seeker or a property investor, you’ll find such a technology a great convenience.

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This publication has been prepared by RHB Bank Berhad and is solely for your information only. It may not be copied, published, circulated, reproduced or distributed in whole or part to any person without the prior written consent of RHB Bank Berhad. In preparing this article, RHB Bank Berhad has relied upon and assumed the accuracy and completeness of all information available from public references and articles or which was otherwise reviewed by RHB Bank Berhad. Accordingly, whilst we have taken all reasonable care to ensure that the information contained in this article is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness or fairness of such opinions and make no representation or warranty (whether expressed or implied) and accept no responsibility or liability for its accuracy or completeness. You should not act on the information contained in this article without first independently verifying its contents. 


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