Page 117 - Bank Muamalat_AR24
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ANNUAL REPORT 2024 1 2 3 4 5 Sustainability Statement 6 7 8 115
Key initiatives include: The Bank also launched a strategic collaboration
with MyDigital ID Sdn Bhd in support of the
End-to-end digital onboarding for Savings Accounts, government’s Digital ID initiative. Bank Muamalat
allowing customers to open accounts anytime has joined as a Marketing Partner via our corporate
and anywhere without the need to visit a physical website and is actively participating in sandbox
branch. The process is fully enabled through secure testing hosted by Bank Negara Malaysia, with
eKYC authentication, promoting ease of access and completion targeted by Q2 FY2025.
convenience.
To ensure secure and scalable access nationwide,
Beyond conventional financial offerings, ATLAS also the ATLAS platform is supported by strong
provides Lifestyle and Faith-based features such technical infrastructure. It is hosted on Google Cloud
as rewards wallets, prayer times, Islamic calendar, Platform (GCP) with advanced data encryption
and inspirational content, at no additional cost. and protected by Multifactor Authentication (MFA)
These differentiators ensure the platform reflects and biometric login features to safeguard customer
the everyday needs and values of its customers. accounts.
As part of our inclusive banking strategy,
we collaborated with Financial Link Sdn Bhd to
facilitate the onboarding of foreign customers.
While the onboarding process is currently conducted
at selected branches, plans are in place to fully
digitalise this journey. By 31 December 2024,
50 foreign worker savings accounts were
successfully onboarded under this initiative.
Summary of significant outcomes: Embedded lifestyle and spiritual features into our
digital banking proposition, enhancing customer
Successfully met the financing targets under experience and differentiating Bank Muamalat as a
Bank Negara Malaysia’s affordable housing values-based financial provider.
criteria, supporting home purchases priced up to
RM250,000 in Peninsular Malaysia and RM300,000 Supported Malaysia’s broader digital transformation
in Sabah and Sarawak. by taking part in MyDigital ID’s national sandbox,
contributing to a secure and inclusive digital identity
Continued to enable homeownership for low- to ecosystem.
medium-income individuals, including those without
fixed income, through accessible and responsible Contributed to the national financial inclusion
financing. agenda and supported the United Nations
Sustainable Development Goals, particularly:
Expanded financial access through physical and
digital channels, helping bridge inclusion gaps SDG 1: No Poverty – through access to
across urban and semi-urban communities. basic financial services
Demonstrated alignment with VBI by embedding
inclusivity, fairness, and responsible financial SDG 8: Decent Work and Economic Growth
solutions across our consumer offerings. – by supporting micro-entrepreneurs and
small business operators
Through the ATLAS platform, the Bank significantly
lowered barriers to financial access, allowing SDG 10: Reduced Inequalities – by
individuals—regardless of location or schedule enabling underserved communities to
to open a savings account with a seamless digital participate in the formal financial system
experience.
SDG 11: Sustainable Cities and
Successfully onboarded underserved customer Communities – through inclusive home
segments, including foreign workers, reinforcing our financing solutions
commitment to inclusive banking and alignment with
Bank Negara Malaysia’s financial inclusion agenda.
