Pre IPO, Malaysia’s Bank Islam accelerates digital transformation

Bank Islam, which is set to become the first publicly listed Islamic Bank in Malaysia, before its IPO, has decided to accelerate its digital transformation efforts with local telco, TM One.

Both organisations have signed a Memorandum of Understanding (MoU) which will see TM One deploy digital solutions in cloud, big data analytics, cybersecurity, and data centers to optimise the bank’s operations.

Muazzam Mohamed, CEO of Bank Islam, said that the partnership with TM One will improve the bank’s functions and services to its customers, which are important parts of the business especially ahead of its listing.

“These solutions will intensify BIMB’s information technology (IT) infrastructure and centre for digital experience (CDX) digital banking products, by allowing new buying experience, away from the traditional banking approach,” he added.

On being selected as Bank Islam’s preferred digital partner, Ahmad Taufek, Executive Vice President and CEO of TM One, said that the company is honoured to be given the opportunity to extend its digital expertise to Bank Islam. “We are fully aware that digital transformation, data security and protection are the top priorities, especially for the banking sector,”

“This befits our role as part of TM Group, as the enabler of ‘Digital Malaysia’,” he continued. With a rapid increase in tech adoption post-COVID, countries such as Malaysia Digital Economy Corporation (MDEC), the country is looking to establish itself as a digital hub in the region.

TM to become Malaysia’s first end-to-end Cloud AI Infrastructure Service Provider with Huawei agreement

Telekom Malaysia Berhad (TM) has signed an agreement with Huawei to expand its cloud services and provide Malaysia with its first end-to-end cloud artificial intelligence infrastructure.

The TM Cloud α (Cloud Alpha) services are set to enable the next generation of innovation for its public sector and enterprise customers.

“TM is the only local player with its own state-of-the-art core data centers and cloud infrastructure with full data residency, locality and sovereignty in Malaysia and subjected to regulations in Malaysia,” said Dato’ Noor Kamarul, the Group Chief Executive Officer for TM.

Malaysia’s national telecommunications infrastructure provider will leverage Huawei’s cloud technology to offer cloud, AI and cybersecurity for their operations, spanning Infrastructure-as-a-Service, Platform-as-a-Service and Software-as-a-Service.

“This collaboration with Huawei Malaysia is another milestone for TM ONE. We now have full cloud capability as a core offering from TM ONE to capture growth in Malaysia,” said Ahmad Taufek, the Executive Vice President and Chief Executive Officer of TM ONE.

The industry is expected to grow at a compound annual growth rate of 27% in the next five years, according to Mr. Taufek.

Digitalising Malaysia

The Cloud α solution is expected to fast-track digital transformation in Malaysia by introducing more smart services, big data innovations and the Internet of Things innovations.

Michael Yuen, the Chief Executive Officer of Huawei Malaysia, said: “I am confident we can develop a holistic ICT infrastructure together in line with the government’s move to spur Malaysia’s digital economy growth.”

The memorandum of agreement signed by TM ONE and Huawei acted as a commitment by the two companies to develop cloud and AI talent as well as drive foreign cloud and data transactions back to Malaysia.

Malaysian Communications and Multimedia Deputy Minister, Zahidi Zainul Abidin, said the agreement would boost Malaysia’s economic recovery and digital economy during the pandemic, which has demonstrated the need to rapidly adopt new technologies.

He added: “Malaysia will now focus on economic growth and towards reaping the full benefits of the Industrial Revolution 4.0. Therefore, today’s MoA is a step in the right direction.”

TM ONE’s Cloud α solutions was launched in April of this year, providing a foundation that enables blockchain, chatbot, data analytics and robotic process automation innovations, while remaining compliant with regulatory requirements like Bank Negara Malaysia’s Risk Management in Technology (RMiT).

Along with their Huawei agreement, TM ONE also welcomed the recent expansion of AWS into Malaysia with the availability of their Outposts.

“It will help us in our mission to enable the Malaysian public sector and enterprises to be more agile, while delivering better and more comprehensive services to end customers. This is in line with TM Group’s commitment in enabling Digital Malaysia,” said Mr. Taufek.

The enterprise and public sector business solutions arm of Telecommunications Company Telekom Malaysia Berhad found AWS Outposts to be an important part of TM ONE Cloud Alpha’s hybrid cloud strategy.

Image credit: TM ONE

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