CIMB Bank has formed an alliance with ICE Commercial Services Sdn Bhd and Lenlyn UK plc to manage the bank's retail foreign exchange (forex) business.
In a statement yesterday, CIMB said the participation agreement signed with ICE was in line with its efforts to improve customer service at its bureau de change outlets and offer new retail forex offerings in the future.
“Under the agreement, ICE will contribute its specialised expertise and operational and business processes and systems relating to retail forex. It will also assist the bank to develop staff capabilities through tailored training programmes to enhance efficiency and productivity, better customer service and improve delivery systems,” it said.
The bank said it could also leverage on ICE's global brand recognition to attract business, particularly with inbound travellers at the airport and foreign tourists.
CIMB head of retail banking, Peter England, said the partnership would bring significant boost to the business and offer better value to its customers.
“It is an opportune time for us to enhance and expand our retail forex business.”
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