MBSB today has announced the signing of a Memorandum of Understanding (MOU) with communications giant CelcomDigi. According to the local Islamic bank, the move is part of its continuous digitalisation efforts to future-proof its banking operations, as well as enrich customers’ experiences.
For the uninitiated, MBSB Bank was established back in 2018, as part of a merger between non-bank lender Malaysia Building Society Bhd (MBSB) and foreign-owned Asian Finance Bank Bhd (AFB). The formation resulted in a new full-fledged Islamic bank, one of 16 that are available in Malaysia.
Meanwhile, CelcomDigi is the more recent of the two, with its full establishment only completed back in December of last year. Though new, its formation actually consists of two longest running telco giants in the country, namely Celcom and Digi.
Both parties stated that this newly established partnership will allow them to explore opportunities in end-to-end smart banking solutions such as comprehensive services for cyber security, smart retail solutions financing, and cloud infrastructure technology. In addition, MBSB Bank and CelcomDigi also intend to further collaborate on finding new commercial opportunities and “joint go-to-market activities” that will benefit both their customers and employees.
“Partnering with CelcomDigi is certainly a key milestone especially in an industry like ours which has become increasingly competitive due to technological advances, hence it is our hope that working strategically with a market leader can accelerate our progress in that space,” said the bank’s chief executive officer Datuk Nor Azam M. Taib in the press release. He added that MBSB plans to establish industrial Internet of Things (IoT) solutions as part of its business financing, as well as focusing on green tech adoption, automation, and quality assurance. Further, also on the table is the bank’s intention to leverage on cloud technology to advance its digital capabilities, which would help increase its competitiveness level.
On the other hand, CelcomDigi’s own CEO Datuk Mohamad Idham Nawawi expressed that the company has the right expertise and resources that will help advance MBSB Bank’s digital capabilities, as it progresses in leveraging technology to introduce enhanced products, services, and experiences for its customers. “We look forward to unlocking more value from our synergies, as we innovate together while supporting the nation’s digital agenda,” he added.
(Source: MBSB / CelcomDigi press release)
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