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Bank Islam Appoints TM One as Digital Partner to Accelerate its Digital Transformation

18 February 2021
  • Bank Islam aims to become Malaysia’s leading bank for social finance and digital Islamic bank of choice by 2021
  • TM One’s digital solutions and professional services optimises business operations to realise Bank Islam’s transformational strategy

Telekom Malaysia Berhad (TM) via its enterprise and public sector business solutions arm, TM One, today signed a Memorandum of Understanding (MoU) with Bank Islam Malaysia Berhad (Bank Islam), for the appointment of TM One as the preferred digital partner in realising Bank Islam’s transformational strategy.

The MoU was signed by Mohamed Iran Moriff Mohd Shariff, Chief Operating Officer of Bank Islam and Ahmad Taufek Omar, Executive Vice President and Chief Executive Officer of TM One.

Commenting on the collaboration, Ahmad Taufek said, “We are honoured to be given the opportunity to extend our digital expertise to Bank Islam. We are fully aware that digital transformation, data security and protection are the top priority, especially for the banking sector. This provides the best digital experience to their customers, particularly in these times where digital transactions are increasing exponentially. With this agreement in place, we can provide Bank Islam with the latest and secured digital solutions and infrastructure to support its transformation journey. Solutions such as cloud, cybersecurity and big data analytics will drive Bank Islam’s process optimisation, enabling omni-channel and data monetisation agenda, leading to cost optimisation and productivity uplift.”

“At TM One, we aim to take transformation forward for our enterprise and public sector customers, such as Bank Islam in realising their digital aspiration. This befits our role as part of TM Group, as the enabler of Digital Malaysia,” he added.

Chief Executive Officer of Bank Islam, Mohd Muazzam Mohamed said, “As Bank Islam is embarking on a new endeavour by becoming Malaysia’s First Public Listed Islamic Bank, we are taking steps in pursuing the latest technological advancements in facilitating the affairs of the institution with our stakeholders. The partnership with Malaysia’s leading integrated telecommunication company such as TM will complement the Bank’s effort to constantly improve our functions and the services we provide to the customers, thus further fulfilling market’s need and expectations. This effort will then catalyse the growth of the Bank and the Islamic banking industry as a whole.”

He adds, “We are very excited and look forward to a meaningful partnership with TM, via TM One as digitalisation will enable core infrastructure that will support Bank Islam’s key strategic pillars of Sustainable Prosperity, Value-based Culture, Community Empowerment, Customer Centricity, Real Economy as we move forward.”

The collaboration between both parties is aimed at further exploring TM One’s role in becoming the primary digital solutions provider to Bank Islam for digital infrastructures such as data centre and Cloud α (Alpha) services, as well as big data analytics and cyber-security solutions. These solutions will intensify Bank Islam’s IT infrastructure and Centre for Digital Experience (CDX) digital banking products, by allowing new buying experience, away from the traditional banking approach.

This partnership combines the strength of both companies that will pave the way to accelerate Bank Islam’s transformational strategy.

For further information on TM One, visit www.tm.com.my/tmone and for more info on Bank Islam visit www.bankislam.com.

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