CUSTOMER EXPERIENCE Bank Islam leverages data-driven insights to offer personalised financial solutions, meeting the evolving needs of our customers within the dynamic financial landscape. Our commitment to innovation in both digital services and customer experience fosters trust and builds lasting relationships, essential for sustainable growth. By continuously adapting to our customers' evolving expectations, we ensure our offerings remain relevant and supportive of their financial journeys. The Overall Approach We are deeply committed to elevating the banking journey, prioritising customer experience through these foundational principles: CUSTOMER EXPERIENCE Digital Innovation Leveraging technology for enhanced customer service Operational Efficiency Ensuring ongoing process improvement Customer Centricity Placing our customers at the core of our planning and decision-making What We Did Progress & Achievements a) Migration to Data-Driven Multi-Factor Authentication: Completed a major technological shift by transitioning all our Multi-Factor Authentication systems from SMS-based methods to data-driven platforms like GO Secure — a new digital authentication method for Internet Banking transactions. Achieved significant cost savings, reducing SMS charges by RM2.4 million over the year. b) Simplification of Authentication Processes: Expanded Single Factor Authentication to include a variety of services such as Financial Process Exchange (FPX), Prepaid Reload, Tabung Haji (TH), Skim Simpanan Pendidikan Nasional (SSPN), and Bill Payment. Enhanced customer experience by removing the need for verification for transactions under RM250, resulting in faster transactions and a smoother user experience. In today's digital banking landscape, our top priority is ensuring the utmost safety for our customers. We achieve this through targeted measures, including security upgrades and digital financial literacy initiatives, aimed at enhancing transaction safety and combating financial fraud. Our proactive approach to security underscores our commitment to safeguarding customers in the ever-evolving digital world. The Value Created in 2023 In 2023, Bank Islam embarked on a series of targeted initiatives focused on security, convenience, sustainability, engagement, and efficiency, improving the customer experience, and achieving significant cost savings. These efforts collectively contribute to an enriched customer experience, keeping us ahead in the rapidly evolving banking industry. 1. Streamlining Transaction Processes We have strengthened security for our customers' digital banking with new authentication methods, whilst also simplifying and expediting everyday transactions. This dual emphasis on protection and convenience cultivates trust and satisfaction among our customers. 114 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2023 Economic Impact
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