Bank Islam Malaysia Berhad has officially launched its cloud-native digital banking application, Be U which will allow customers to do all their banking transactions digitaly.
The bank adds the first-of-its-kind technology stack, the cloud-native solution is anticipated to be the cornerstone of all upcoming digital banks to be introduced in Malaysia. With the app, users can do their banking transactions seamlessly, without the hassle of visiting a branch, this will further enhance the bank’s appeal to the digital-native, younger generation. Its engaging and user-friendly interface is intended to help users quickly understand and manage their finances said Group Chief Executive Officer, Mohd Muazzam Mohamed who added “Be U is a gamechanger for Bank Islam and the Islamic banking industry. It is a product that intends to redesign and catalyse Bank Islam’s future growth by leveraging the rapidly changing fintech landscape and further allowing customers access to an affordable and easy-to-use financial solution.”
“Through the app, Bank Islam is shifting from being product-centric to customer-centric in building products that fulfill customer needs. This effort aligns with our five-year business strategic plan (LEAP25), which aims to become the champion in Shariah-ESG total financial solution with leadership in digital banking and social finance,” he added. Be U is targeted at the younger generation, offering a savings account that allows zero balance, fund transfer capabilities, and a Nest feature that helps users save for specific goals.
“Customers can expect new functionalities on the app in the next 12 months including term deposit, gig marketplace, debit card, personal financial management, micro-financing, micro takaful and much more. We will replicate the learnings from Be U into the entire organisation, which is the bigger picture we’re looking at. We want to turn Bank Islam into an increasingly agile organisation by adopting new ways of working, attracting talents with new skillsets, using the latest technology, and leveraging data and automation. This will, in turn, enable Bank Islam to serve our customers better,” Mohd Muazzam emphasised.
The application uses Mambu Digital Core as its technology backbone and is housed in Amazon Web Service (AWS) cloud. By leveraging its cloud-based advantage, Be U users can benefit from the agility of the app and enjoy a curated, user-friendly and personalised banking experience. Bank Islam targets between 350,000 and 400,000 downloads and users of the app within the first 12 months of its operations.
There will be no charge to open a Be U account through the platform, users can download the app free through Google Play Store and Apple App Store.
