Focus Areas Resources Allocated Initiatives Performance and Achievements Harnessing advancements in digital and technology enhances our offerings, boosts efficiency, strengthens our competitive edge, and elevates customer satisfaction, solidifying our position as the preferred financial institution. For more information on our digitalisation journey, please refer to the Placing Digital at the Core section of this Report on pages 76 to 82. • Adopt a Cloud-first strategy to enable faster response to customer needs, faster speed to market and enhanced business support. • Leverage data to harness insights, unlock analytics and power the use of Artificial Intelligence. • Implement Open API to drive crossindustry collaboration, expand our reach and drive innovation. • Upgrade frameworks, policies and procedures to align with industry standards and best practices. • Modernise our core infrastructure through the CODE S+ and Phase 2 IT Blueprint programmes. • Drive digital innovation through the Centre of Digital Experience (CDX). • Empower agile squads composed of cross-functional, cross-departmental teams. • Manufactured Capital: Develop advanced digital infrastructure to enhance accessibility and user experience. • Intellectual Capital: Build proprietary Shariah-compliant fintech solutions to drive innovation in Islamic finance. • Human Capital: Provide digital skill training for employees to improve service delivery and operational efficiency. • Leveraged our Data Lake, a cloud-based solution, to enable deeper customer insights, hyper-personalisation, advanced analytics, and AI-driven applications for fraud detection and risk management. • Established a dedicated Data Practice to transform data insights into business impact. • Utilised ML to generate leads across multiple business units, improving our operational efficiency and allowing our employees to focus on higher-value tasks. • Enhanced frameworks for technology risk management, cyber resilience, and data governance. • Harnessed Robotic Process Automation (RPA) to improve operational efficiency by reducing turnaround time, automating email notifications, generating reports, and streamlining data entry. • Achieved a 95% STOR for Be U by Bank Islam, allowing customers to open a savings account in just eight minutes with an average of 1.19 clicks per screen. • Introduced two operationalised ML projects to enhance business impact and efficiency: • NBP Project: Facilitates cross-selling of new products, including personal financing, vehicle financing, home financing, Takaful, unit trusts, and credit cards, to existing customers, generating RM2,364.7 million in financing – an increase of over 100% – and RM2.2 million in deposits as of 31 December 2024. • Pre-Due Strategy Project: Proactively mitigates early delinquency risks by making reminder calls to customers at risk of missing payments, reducing early delinquency by 0.09% for personal financing, 0.23% for housing financing, and 0.21% for vehicle financing. • Adopted a cloud-first strategy, hosting all new applications on the cloud while actively migrating and modernising the majority of legacy applications over three years. • Introduced a rich API framework to support both customers and third-party integrations through channel foundation services. • Received three prestigious Global Islamic Finance Awards for digital initiatives in 2024: • Best Islamic Bank for Gen-Z – Be U by Bank Islam • Best Technology Implementation by an Islamic Bank – CI/CD and microservices for the Go Beyond platform • Best RPA Initiative – RPA BITIZEN Developer Programme. • Established digital partnerships and collaborated with fintechs to expand our reach, enhance customer experiences, and deliver innovative solutions to meet evolving market needs. DIGITALISATION Headline KPIs 2023* Cost Savings RPA COE 114,273 RBD Total (RM) 114,273 * Cost avoidance tracking initiated in 2024. 2024 Cost Savings Cost Avoidance RPA COE 33,753 1,844,400 RBD 26,929 236,000 Total (RM) 60,682 2,080,400 73 w w w . b a n k i s l a m. c o m 01 02 03 04 MD&A – STRATEGIC REVIEW 05 06 07 08 09
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