Bank Muamalat signs multi-year partnership with Google Cloud to boost digital transformation
Malaysia’s Bank Muamalat is embarking on a “multi-year collaboration” with Google Cloud as it looks to accelerate its digital transformation efforts to provide “personalised and inclusive” digital Islamic banking services to customers in the country.
Bank Muamalat partners Google Cloud for digital upgrades
As part of the partnership, the Kuala Lumpur-headquartered bank is to adopt a number of the vendor’s cloud-based solutions.
These include its infrastructure modernisation solution and developer cloud to enhance data capture and digital financing through its Muamalat Application platform (MAP), its Mandiant Threat Intelligence platform for cybersecurity, and its “serverless” database Firestore for data storage.
Additionally, the bank will leverage the Google Marketing platform, integrated with business intelligence platform Looker and data warehouse BigQuery, to “consolidate and analyse” first-party data to serve as a “ready vehicle” for its application of generative AI (GenAI).
This application will be led by Google’s Vertex AI Search and Conversation platform, which Bank Muamalat says will enable its staff to “extract insights and recommendations from its data repository in natural language, with footnotes and links to supporting data sources for explainability”.
The various applications selected through the partnership with Google Cloud will accompany the bank’s cloud-based core banking platform, powered by Mambu, and the engagement banking platform it has selected from Backbase.
Bank Muamalat will seek to leverage these solutions to advance its development and deployment of Sharia-compliant financing and deposit offerings and further its standing as a digital-first bank.
