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Home Technology

Malaysia's Bank Muamalat and Google Cloud partner to enhance digital Islamic banking services

FutureCIO Editors by FutureCIO Editors
March 18, 2024
Photo by Azri Suratmin: https://www.pexels.com/photo/brown-lounge-chair-on-side-of-swimming-pool-122244/

Photo by Azri Suratmin: https://www.pexels.com/photo/brown-lounge-chair-on-side-of-swimming-pool-122244/

Bank Muamalat Malaysia Berhad (Bank Muamalat) will leverage Google Cloud’s integrated capabilities in modern infrastructure, data analytics, security, and generative AI (gen AI) to accelerate the digital transformation of the Islamic bank.

Khairul Kamarudin

“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,” said Khairul Kamarudin, president and chief executive officer of Bank Muamalat.

Next-generation Islamic banking

Bank Muamalat is shifting to a cloud-based operating model by migrating its digital applications and databases to Google Cloud, and integrating them with Mambu’s digital core banking platform and Backbase’s engagement banking platform.

Bank Muamalat is also planning to deploy Google Cloud’s Chronicle Security Operations and Security Command Center Premium platforms, integrated with Mandiant Threat Intelligence, to strengthen its cybersecurity posture.  

The bank also intends to utilise Google Cloud BigQuery and Looker, integrated with Google Marketing Platform to consolidate and analyse data.  Bank Muamalat will adopt enterprise-ready gen AI capabilities like Vertex AI Search and Conversation to extract insights from its data repository in natural language, with footnotes and links to supporting data sources for explainability.

New banking standard

Patrick Wee

“Bank Muamalat’s decision to leverage Google Cloud’s capabilities in modern infrastructure, security, data analytics, and gen AI as a unified whole, will help the bank drive new operational efficiencies and execution velocity, and expand the relevance and reach of its services. For consumers, this means a new standard of digital Islamic banking that’s faster, easier to use, and more attuned to creating mutual trust than ever before,” said Patrick Wee, the country manager of Malaysia at Google Cloud.

Related:  SG companies recognise how digital technologies drive sustainability
Tags: Bank Muamalat Malaysia Berhadbankingdigital transformationGoogle Cloud
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