Kuala lumpur: Agrobank today launched its online bank account opening service, a digital banking system that allows customers to open an account without visiting the bank’s branch. Deputy Minister of Agriculture and Food Security Datuk Seri Arthur Joseph Kurup highlighted that the new service enables the account opening process to be completed online in just about 10 minutes, compared to the traditional 30 to 45 minutes through counter services.
According to BERNAMA News Agency, leveraging widespread internet coverage, customers can now open deposit accounts with a minimum of RM20, anytime and anywhere, without needing to physically be present at a bank. “Agrobank is always looking for opportunities to enhance customer-friendly process efficiency, especially for those with busy daily schedules or who live far from physical banking facilities,” Kurup stated.
He was speaking to reporters after launching the service during the National Farmers, Breeders, and Fishermen’s Day 2025 event. The Secretary-General of the Ministry of Agriculture and Food Security, Datuk Seri Isham Ishak, chairman of Agrobank, Datuk Yunos Abd Ghani, and president/chief executive officer of Agrobank Group, Datuk Tengku Ahmad Badli Shah Raja Hussin, were also in attendance.
Arthur added that this digital transformation could reduce the bank’s operating costs by up to 30 percent through the elimination of manual processes, reduced paper usage, and the expansion of digital banking services. He noted that the online facility can broaden financial access for Malaysians, particularly those in rural and remote areas, making it easier for them to access Agrobank’s services. “This aligns with our goal of ensuring that no one is left behind in the nation’s financial inclusion agenda,” he added.
To address the challenge of limited internet access in rural areas, Agrobank has introduced an account opening initiative using an iPad, known as AgroTouch, supported by Starlink satellite technology, which enables connectivity even in remote locations. Agrobank aims for a 10 to 15 percent increase in digital account openings within the first three months, targeting 1,500 new accounts, and a 20 percent increase within six months.
Meanwhile, at the same event, Arthur launched the Agrofood Financing Fund (DPA) 2025, totaling RM200 million, with Agrobank as the implementing agency, aimed at strengthening the country’s agrofood sector.