Image Courtesy: Bank Muamalat Malaysia Berhad Instagram

Islamic Finance

Bank Muamalat, Google Cloud collaborate to enhance digital banking experience

Bank Muamalat Malaysia Berhad is making a strategic shift to a cloud-based operating model to accelerate its transformation into a leading digital Islamic bank.

The bank has announced a multi-year collaboration with Google Cloud to leverage the latter’s “integrated capabilities in modern infrastructure, data analytics, security, and generative AI to deliver personalized and inclusive digital banking services to Malaysians", it said in a statement. 

The bank’s cloud transformation includes solutions from Mambu, a Google Cloud industry solutions partner, and Backbase. 

CEO Khairul Kamarudin said that it was their mission to bring digital banking’s full range of benefits to Malaysia’s Islamic banking market.

“By having our digital core systems and front-end running on Google Cloud, we anticipate streamlined IT operations and enhanced responsiveness, laying the foundation for innovation with enterprise-grade gen AI and ultimately delivering superior banking experiences.”

Besides being cost-effective and enhancing operational efficiency, the open cloud transition will empower the bank’s developers to accelerate software development cycles.

Google Cloud and Mambu’s digital core banking platform is also designed to meet the financial services sector’s security and compliance requirements.