Telekom Malaysia Berhad (TM) has selected Maybank2^e.net for its cash management solution in a move that will further enhance its productivity, deliver cost-savings as well as provide increased convenience to staff and customers.

A signing ceremony between Maybank and TM was held at Menara Maybank today for the implementation of Maybank2^e.net solutions at TM. Signing on behalf of Maybank was Datuk Amirsham A Aziz, President and CEO, Maybank while TM was represented by Zamzamzairani Mohd Isa, its Senior Vice President for Group Strategy and Technology.

Maybank2^e.net is an integrated online enterprise cash management financial portal providing corporation 24-hour, 7-days a week access anytime, anywhere. Under the agreement, TM will adopt the entire suite of cash management products and services that will include Payroll and SOCSO Services and subsequently, eDividend, Online Bills Payment and Bulk Payment to suppliers/vendors via auto-credit and/or cheque outsourcing.

Datuk Amirsham said that with real-time processing and convenient accessibility as well as a variety of management reports under Maybank2^e.net, TM will be able to monitor and manage their cash management activities in a more effective manner.

Maybank2^e.net offers secured straight-through processing, eliminating tedious manual procedures which translate into time savings and greater efficiency for TM. TM will benefit from the automated processes that will also minimize errors and provide speedier processing of payroll and payments,?said Datuk Amirsham.

Maybank2^e.net is also enhancing its Intrabank auto-credit payment module to allow auto-credit payment to third party accounts via Interbank GIRO, Interbank RENTAS and Banker's Cheque. When implemented in the near future, customers who have accounts in other banks will be able to receive payment conveniently and quickly," added Datuk Amirsham.

With the simple and fast methods of the payroll, EPF and Socso payments via Maybank2^e.net, TM will enjoy greater administrative efficiency. This online system will reduce process cycle time and bring about an increase in operational effectiveness to the Company.

Speaking at the signing, Zamzamzairani said: "Maybank2^e.net will provide TM with around the clock banking transactions facility and TM will be using the solution to increase operational efficiency by means of automation and speedier payroll and payments. By adopting the solution, TM stands to enjoy numerous benefits such as convenience in executing transactions, high level of security and costs saving.

TM looks at this partnership with Maybank as a win-win situation. Maybank is a very important client to TM and likewise. This partnership draws upon the both organisations?products and services where there is a fit between these offerings and the needs of both organisations.

Maybank has more than 4,000 enterprises subscribing to Maybank2^e.net services and the online dial-up Maybank Desktop Banking facilities. Its innovative features have earned it several recognitions including Asiamoney Award for Best Local Cash Management Bank for 2004 and 2005 and The Asset Triple A Award for Best Cash Management Bank in Malaysia 2006.

Maybank currently provides TM with many other convenient delivery channels for its bill payments. TM customers are able to pay TM bills at any Maybank branches, via ATMs, phone banking, Maybank2u.com or credit card autodebit facilities.