DIGITALISATION What It Means Value Created What We Did Outlook Our multi-year Digitalisation journey is designed to holistically transform • Customer channels and platforms by providing omnichannel customer journey and experience and pushing the envelope on personalisation • Applications & infrastructure to be future-ready with API-based technology stack and single data source for advanced analytics • Process and ways of working that promote agile for iterative delivery, and • Capability and skills to be digitally ready to support business goals • Progressed a new working culture centred around Agile, DevOps and Design Thinking • Instigated a philosophy of working with best-in-class ecosystem partners to build a cloud and microservices-based technology stack • Increased traction on using and training machine learning models in various use cases, for example, in predicting the likelihood of customers accepting a product through the Propensity model • Expanded the use of Robotic Process Automation (RPA) by skilling up more RPA Bitizen developers bank-wide • Established a partnership with APU for Digital Academy • Launched Be U by Bank Islam, the first digital Islamic Bank in Malaysia, touted as the friendliest digital bank in Malaysia. Be U is targeted at the younger generation. • Commenced work to implement future-ready platform and infrastructure such as API and big data • Improved the go-to-market capabilities for customercentric offerings via Be U. It offers a savings account that allows zero balance, fund transfer capabilities and a “Nest” feature that helps customers save for specific goals. • Enhanced flexibility and agility in developing new product offerings in a shorter period. • Generated high-quality leads for cross-selling products, for example Al-Awfar and Personal Financing • Increased credit card customer base by 0.7% with 2,436 new accounts added, with 1,347 Mastercard and 1,089 VISA cards activated. Looking ahead, we seek to uphold our mission to drive business growth and agility through innovation enabled by technology. We work to be able to provide digital solutions that are customer-centric, sustainable and value creating. Our IT Blueprint and Digital Bank represent our robust digital strategy to better equip ourselves to improve our digital offerings and stay ahead of our competitors. Our main aspirations are to: 1. Enhance customer access and interaction (channels) via omnichannel capabilities 2. Improve customer experience through frictionless access to the bank’s services 3. Foster innovation with developers and fintech ecosystems through strategic partnerships 4. Venture into cloud through the establishment of our cloud strategy and its relevant policies 5. Increase business and operation agility in responding to customers’ needs through strategic adoption of technology 6. Capitalise on data to gain insights for future development, optimise potential and reduce risk In a nutshell, we are committed to rigorously develop and grow our digital business models and making Bank Islam a digitally mature organisation. Bank Islam Malaysia Berhad 59 Management Discussion and Analysis 01 05 03 07 02 06 09 04 08
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