AEON Bank is leading a banking revolution in Malaysia, targeting generation Z, Alpha customers, and small businesses, drawing from AEON Group's 40-year legacy. The bank was officially launched on 26 May.

Under CEO Raja Teh Maimunah's leadership, the bank is blending technology with tradition, prioritising user-centricity through mobile app development and cloud-based infrastructure. This approach ensures an intuitive banking experience, seamlessly integrated into daily life, designed for digitally-savvy customers.

Bank targets Gen Z and Alpha market

Generation Z, born between 1997 and 2012, and the emerging Alpha segment between 2010 and 2024 present a fundamental shift in banking needs and behaviours. Unlike their predecessors, the customers in the younger demographics are digital natives.

Raja Teh said AEON Bank’s strategy is to deliver a banking experience that is intuitive and seamlessly integrated into digital lifestyles. “We’re not just creating a bank; we’re creating a lifestyle enabler.”

Pioneering Shariah-compliant digital banking

AEON is leading the way in digital banking that complies with Shariah, upholding moral principles and promoting financial inclusion. Leveraging its robust retail presence and enduring relationships, AEON navigates challenges, including customer education and the digital divide, to create an inclusive digital banking ecosystem.

Raja Teh said: "One of the key things is for the Malaysian public to be very aware that we are Islamic, Shariah-compliant, and that I have very reputable scholars. We are highly regulated by Bank Negara, and they do not have to worry about whether their money is halal or not.”

The group’s 40-year presence in Malaysia has given it a robust foundation for the new digital bank. Its legacy of robust retail growth and sticky customers is a cornerstone of its market strategy.

She added that AEON's Japanese culture, steeped in a legacy of constant innovation and longevity, deeply influences its digital banking strategy. “With eight generations of family leadership, AEON embodies a culture of innovation, which is pivotal for ensuring enduring success in our endeavours.”