Our digital growth strategy goes far beyond collaborations and enhancements. In 2020, we established the Centre of Digital Experience, or CDX, to drive innovation by experimenting with new business models and technology, and to assess the feasibility of their adoption by BIMB. CDX has embraced the opportunities for disruptive innovation that have arisen during the pandemic. We recognise that the shift to new technologies carries execution and security risks and we have acted to minimise these risks by ring-fencing CDX from the rest of BIMB. We have also continued to leverage on digitalisation to drive operational efficiency across our company through increased process automation. A key initiative during the year was the accelerated implementation of Robotics Process Automation, which has allowed our staff to automate business processes on their own, cutting down on the number of work hours spent on routine tasks. The growth in our mobile banking services has been even more impressive. Our multiple award-winning GO by Bank Islam mobile banking app saw massive growth as we continued to rollout new features. The number of active users on GO by Bank Islam increased by 79% in 2021, to reach 849,000. At the same time, the total number of transactions on GO by Bank Islam tripled to reach 47 million, far exceeding our target of 21 million transactions for the year. As we move forward, we will continue to build on this momentum by accelerating the roll-out of new features on GO by Bank Islam. We further extended our mobi le banking offerings with the launch of the GO Biz by Bank Islam mobile app in July, which is targeted at SMEs and micro businesses. The app allows small merchants to manage their day-to-day business quickly and securely f rom their mobile devices. The app has been well-received and we on-boarded more than 7,000 merchants by the end of the year. Even as we have grown our digital banking services, we have seen the traditional banking and financial model face serious disruption from the rise of the FinTech start-ups. The FinTech’s have rapidly leveraged on thei r greater agility and an accommodating regulatory landscape to drive innovation in the industry. At BIMB, we see this as an opportunity and we have actively embraced collaboration with selected FinTech’s in order to sharpen our own digital delivery. We aim to amplify the impact of these collaborations by leveraging on our unique advantages, credibility, large customer base, access to huge amounts of data and financial resources. Above all, we aim to enhance the impact of these collaborations by leveraging on the unique branding and position that we hold as Malaysia’s leading Islamic bank. BANK I SLAM MALAYS IA BERHAD 18 MESSAGE FROM THE GROUP CHIEF EXECUTIVE OFFICER
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