ENHANCING CURRENT PROCESSES, PRODUCTS, AND SERVICES Across our business divisions, we embrace digitalisation to enhance business processes and improve our products and solutions. Our efforts serve to unlock productivity gains and enhance our customer service levels, improving competitiveness in the banking landscape. In 2024, through Robotic Process Automation (RPA), ten completed projects have helped improve operational efficiency by reducing turnaround time, automating email notifications, generating reports, and streamlining data entry. Automating repetitive tasks lets our employees focus on more strategic, high-value work. Integrating cutting-edge technologies such as data analytics, artificial intelligence (AI), and machine learning (ML) has generated deeper business insights across the bank. These advancements have created additional value for our stakeholders and further propelled Bank Islam’s commitment to financial inclusion. Data Lake: Our architected, cloud-based data lake solution centralises data and facilitates advanced analytics. We gain deeper insights into customer behaviour by performing analytics on this repository, enabling hyper-personalisation through tailored propositions. It also forms the foundation for advanced analytics and AIbased applications, such as enhancing risk management by identifying and predicting trends related to fraud and security breaches. Next Best Product (NBP): NBP is an operationalised ML project that enables the crossselling of new products – personal financing-i, vehicle financing-i, home financing-i, takaful, unit trusts, and credit cards – to existing bank customers. Pre-due Strategy: This ML-powered project focuses on reducing early delinquency risks by making reminder calls to customers at risk of missing payments. The initiative has reduced the early delinquency of accounts by 0.09% for personal financing, 0.23% for home financing, and 0.21% for vehicle financing. Enhancing Customer Targeting and Sales, Digitally We use data analytics, AI and ML technologies to transform customer management. Key examples include: Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 78 Placing Digital at the Core
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