Humanising finance: Maybank’s Singapore story

AS SINGAPORE celebrates its 60th National Day, Maybank Singapore reflects on its deeply intertwined legacy with the nation’s journey of transformation and progress. Since establishing its presence here in 1960, Maybank has evolved to meet the needs of Singaporeans – leading and shaping through innovation, inclusivity, and resilience.

Beyond financial services, Maybank has consistently supported Singapore’s sustainable development and community welfare, through initiatives that promote financial literacy, green finance and social impact.

As one of Singapore’s domestic systematically important banks and a leading Qualifying Full Bank, Maybank combines its deep local knowledge with regional reach to support individuals, families, and businesses of all sizes in achieving their goals. With the largest physical footprint of any foreign bank, Maybank is an important part of the Singapore community.

Everything it does is underpinned by its core philosophy of “Humanising Financial Services”, putting customers at the heart of every decision and enabling them to thrive in this fast-paced and ever-changing world.

To gain deeper insights into Maybank’s operations and future plans in Singapore, we had the privilege of interviewing the Country CEO Alvin Lee, who shared valuable perspectives on the bank’s role in driving financial innovation and community impact.

Question: What role does Maybank play in supporting Singapore’s financial stability and economic growth?

Since 1960, we have partnered and served multiple generations of entrepreneurs, corporates and families. As Singapore celebrates its 60th year, we too are proud to have been part of this journey, contributing to its stability and growth.

As one of the country’s domestic systemically important banks, we play a crucial role in safeguarding financial resilience and supporting the broader economy. Our strong capital base, prudent risk management, and robust liquidity ensure we remain a reliable institution through the different economic cycles. We actively finance individuals, SMEs, and corporates, helping to drive business expansion, job creation and innovation. Our commitment to responsible banking and sustainable finance further supports Singapore’s ambition to be a leading global financial centre, while our ongoing investments in digital transformation and customer-centric solutions enable us to meet the evolving needs of the nation and contribute meaningfully to its continued prosperity.

Maybank’s role will continue to evolve in tandem with Singapore’s growth story, as we continue deepening our roots here.

Question: What does Maybank’s mission of Humanising Financial Services mean for your customers and the broader Singapore community? Can you share specific examples of how HFS is implemented in your day-to-day operations?

“Humanising Financial Services” means putting people at the heart of everything we do. We listen actively to our customers, seek honest feedback, and are committed to fair and transparent practices.

Internally, we have reinforced our service culture with an “Own Your Stripes” programme, a call to action to make excellent service our way of life. There is a whole playbook around it for every function, jointly created by employees, at all levels all the way to the top. Everyone ultimately serves a customer, whether an actual customer of our business or an internal “customer”. We want every staff to own the customer service, the issue and the experience. All of this must stem from seeing our customers as human beings, not numbers.

Question: Maybank has actively engaged in community partnerships, such as the Maybank Family Fund and the Maybank Momentum Grant. What motivates these efforts, and what impact have they had on the lives of Singaporeans?

Our community partnerships are also driven by our mission of “Humanising Financial Services” – the belief that banking should create positive and lasting impact for the communities we serve. Through the Maybank Family Fund, we have empowered vulnerable families with financial literacy, matched savings, and essential insurance coverage, while also supporting employability through skills training and ambassador programmes.

Apart from involvement at the grassroots levels, we also champion sustainable development through capacity building for the benefit of communities. One such initiative is the Maybank Momentum Grant, in partnership with The Majurity Trust, which provides flexible, interest-free funding to help smaller charities transform and scale their impact, benefiting tens of thousands of Singaporeans and strengthening the social sector’s resilience. The Majurity Trust is a philanthropic organisation that seeks to work with donors, social impact partners and communities to build a thriving Singapore for all.

We also recently launched The Maybank Community Leaders Roundtable to provide a dynamic platform for knowledge sharing, dialogue and networking, aligning with Maybank’s vision to support and empower the non-profit sector. Additionally, our PaPaZao movement encourages active ageing and intergenerational bonding by bringing together seniors and youth in meaningful activities, further promoting social inclusion and community spirit.

These initiatives reflect our deep commitment to inclusivity and social mobility, ensuring that as Singapore progresses, no one is left behind. At the end of the day, we believe our legacy will be defined not just by financial performance, but by the lives we uplift and the communities we help to thrive.

Question: How does Maybank Singapore leverage its regional connectivity, especially in the Malaysia-Singapore corridor, to benefit customers and businesses on both sides?

Maybank’s deep national affinity with both Singapore and Malaysia uniquely positions us as a bridge between these two dynamic economies. Our extensive ASEAN footprint – covering all 10 ASEAN countries – means we offer clients unrivalled access to regional opportunities, leveraging our networks and local expertise across South-east Asia.

In the Malaysia-Singapore corridor, we play a pivotal role in supporting businesses and individuals as economic activity accelerates, especially with initiatives like the Johor-Singapore Special Economic Zone. Our dedicated teams provide seamless cross-border banking, advisory, and financing solutions, helping clients expand, invest, and operate efficiently on both sides of the Causeway.

Question: What strategies and initiatives is Maybank undertaking to ensure it remains future-ready and continues to meet the evolving needs of Singaporean customers and businesses?

We have been focusing on intensifying customer centricity, accelerating digital innovation, and building regional connectivity. We have invested heavily in digital platforms, launching enhancements to our banking apps and creating seamless cross-border solutions to deliver a more intuitive, secure, and convenient banking experience.

For businesses, especially SMEs, we offer integrated digital onboarding, financing, and advisory services, including sustainability-linked loans and the myimpact SME programme to help them grow and transition sustainably.

A key initiative is our myimpact SME Hub, a one-stop, holistic ecosystem that provides SMEs with tailored financial solutions, business advisory, and access to a collaborative network of partners. This hub is designed to support SMEs at every stage of their growth journey, empowering them to adopt sustainable practices and remain competitive in an evolving, eco-conscious marketplace.

Internally, we are upskilling our workforce to ensure we are equipped for the digital economy. By embracing agile ways of working and continually innovating, we are well-positioned to anticipate market shifts, deliver value to our customers, and support Singapore’s Smart Nation vision.

Question: What are your priorities and growth trajectory in Singapore?

Singapore is an essential hub for the Maybank Group and remains at the heart of our regional ambitions. The city-state’s standing as a leading global financial centre, with its robust regulatory environment and economic stability, makes it a magnet for wealth creation and management. We see tremendous opportunities here, especially with the rapid growth of family offices and an increasingly affluent population. This positions Singapore as not just a gateway to Asia, but as a destination for global wealth flows.

Our priorities are clear. We are intensifying our focus on delivering an exceptional customer experience, driving operational excellence, and accelerating digital innovation. These pillars are central to helping us deliver strong results in wealth management, investments, and digital banking. By leveraging our regional network and deep expertise, our customers, whether high net worth individuals or family offices, can rely on a good financial partner to help them grow and preserve wealth across generations.

Ultimately, we believe Maybank has a lot of value to add in Singapore. Our commitment is to continue investing in talent, technology, and holistic financial solutions that support the ambitions of our clients and reinforce Singapore’s role as a premier wealth and financial hub for the region and beyond.

Maybank milestones

1960 Licensed to operate as a commercial bank in Singapore

1965 Official opening of Malayan Bank Chambers

1982 One of the first banks to introduce credit cards with no service fee

1993 Name change to Maybank

2001 Official opening of 33-storey Maybank Tower Awarded Qualifying Full Banking Status

2005 First bank in Singapore to offer instant fund transfer service to Malaysia

2011 Acquisition of Kim Eng Securities, now known as Maybank Securities, which added an investment banking and equities platform to Maybank

2013 New Shariah-compliant financing of cars, marking an industry first Launch of Maybank Private Wealth

2014 Launch of Maybank’s insurance arm Etiqa Insurance in Singapore, marking its entry into the life insurance market

2015 Designated as a Domestic Systemically Important Bank

2018 Local incorporation of Maybank Singapore Limited Set up of the Maybank Family Fund with Singapore’s 5 Community Development Councils

2021 Launched Maybank Momentum Grant, first interest-free and recyclable grant for charities

2023 Launch of Regional Islamic Wealth Hub in Singapore Launch of PayNow Overseas, an instant cross border funds transfer service

2024 Opening of MSpace@Maybank Tower, a lifestyle-centric branch and café Launch of myimpact SME, to support SMEs on their sustainability journeys

2025 Launch of Singapore’s First Takaful Investment-Linked Product