Bank Islam Integrated Annual Report 2020

Key Message About Our Repor t Over v iew of Bank I s lam Ślj ƃȢɰɁ ʥɁɨȟljǁ ʥȈɽȃ Ɂʍɨ ɰʍɥɥȢȈljɨɰ ɽɁ ljȶɰʍɨlj ɽȃƃɽ ʥlj ƃɨlj ƃƹȢlj to continue with their services, especially in supporting the most critical functions of our business, and raised awareness ʥȈɽȃ ɽȃljȴ Ɂȶ :ÝřŽAӸѴѼ ƃȶǁ ʤƃɨȈɁʍɰ ɥɨljƺƃʍɽȈɁȶƃɨʰ ȴljƃɰʍɨljɰӝ On the business side, we facilitated our partners’ financial transactions on priority, helping them maintain their cash flow and income potential. In short, our efforts were all channelled towards making sure that we understand the emerging challenges and expectations Ɂǹ Ɂʍɨ ɰɽƃȟljȃɁȢǁljɨɰ Ȉȶ Ɂʍɨ ƹʍɰȈȶljɰɰ ljƺɁɰʰɰɽljȴӝ Ślj ɨljȴƃȈȶljǁ true to our mission of providing solutions that deliver value and our greater vision of advancing prosperity for all. DIGITAL ENABLEMENT AND DIGITAL FUTURE IS IMMINENT The impact of the pandemic has reinforced the critical need for digital enablement and a robust digital strategy that can be integrated into traditional business models to sustain as well as to accelerate growth prospects. At Bank Islam, a lot of our efforts have been on improving access to Shariah- compliant products that promote values of risk-sharing and ǹƃȈɨȶljɰɰӝ 9ʰ ljɰɽƃƹȢȈɰȃȈȶǼ ƃ :ljȶɽɨlj Ɂǹ AȈǼȈɽƃȢ KʯɥljɨȈljȶƺlj ӯ:AŤӰ team, we aspire to launch our digital banking proposition that works in synergy with the emerging fintech and digital marketplaces. The idea is to cater to the needs and expectations Ɂǹ ǹʍɽʍɨlj ƺʍɰɽɁȴljɨɰӗ ɰʍƺȃ ƃɰ ɽȃlj ǼɨɁʥȈȶǼ {ȈǼ ŚɁɨȟljɨɰӗ ʥȃɁ need alternative ways to assess their creditworthiness beyond traditional means, enabling flexibility and their inclusion in the formal banking system. Through continued investment in the implementation of digital technology as well as our information technology structure, ɽȃlj 9ƃȶȟ ȃƃɰ ȈȴɥȢljȴljȶɽljǁ ȴɁɨlj AȈǼȈɽƃȢ yȈɨɰɽ ȈȶȈɽȈƃɽȈʤljɰ ɽȃƃɽ focus on process optimisation and robotic process automation (RPA); enabling data monetisation; harnessing new technology capabilities and coopetition through technology and fintech partnership; strengthening core enabler and infrastructure; establishing a strong platform for cybersecurity resilience for ɽȃlj 9ƃȶȟ ƃȶǁ ljȶƃƹȢȈȶǼ Ɂʍɨ :AŤ ȈȶȈɽȈƃɽȈʤlj ɽɁ ljɰɽƃƹȢȈɰȃ ƃȶ ƃȢɽljɨȶƃɽȈʤlj ǁȈǼȈɽƃȢ ƹƃȶȟȈȶǼ ljƺɁɰʰɰɽljȴӝ Žȶ ѵѳѵѳӗ ɽȃlj 9ƃȶȟ ȃƃǁ invested in technology and digital related capital expenditure ƃȴɁʍȶɽȈȶǼ ɽɁ ȴɁɨlj ɽȃƃȶ ĄÃѼѳ ȴȈȢȢȈɁȶӝ ÃɁʤȈȶǼ ǹɁɨʥƃɨǁӗ ɽȃlj 9ƃȶȟ ȃƃɰ ƃȢȢɁƺƃɽljǁ ȴɁɨlj ɽȃƃȶ ĄÃѴѸѳ ȴȈȢȢȈɁȶ ǹɁɨ ljȶȃƃȶƺljȴljȶɽ of technology and digital capabilities. Early in March this year, we formalised a memorandum of understanding with credible technology partners, who will ɰʍɥɥɁɨɽ Ɂʍɨ AȈǼȈɽƃȢ yȈɨɰɽ ƃɥɥɨɁƃƺȃӝ Ýʍɨ ɥɨȈɁɨȈɽʰ Ȉɰ ɽɁ ƃƺƺljȢljɨƃɽlj adoption and integration of next generation technology such ƃɰ :ȢɁʍǁ ÇƃɽȈʤlj AȈǼȈɽƃȢ 9ƃȶȟȈȶǼ ƃȶǁ KȢljƺɽɨɁȶȈƺ ¶ȶɁʥ ťɁʍɨ Customer (eKYC), enabling branchless propositions for greater accessibility by today’s technology-savvy customers. Established the Centre of Digital Experience (CDX) First bank in Malaysia to deploy a mobile onboarding (MOB) channel for retail customers Āƃɨɽȶljɨljǁ ʥȈɽȃ ƃ ˎȶɽljƺȃ company to develop and implement an innovative credit risk assessment solution DIGITAL INITIATIVES 16 MESSAGE FROM THE CHIEF EXECUTIVE OFFICER