DEPOSITS AND CASH MANAGEMENT Deposits & Cash Management drives Bank Islam’s strategic initiatives to achieve sustainable deposits growth. By developing viable strategies suited to the evolving business and economic environment, we reduce BIMB’s cost of funds by achieving the right balance between short-term and long-term funding strategies. We have a particular focus on growing CASATIA, which forms one of the essential sources of funds that contributes to a stable liquidity adequacy ratio for the Bank. To drive deposit growth we develop innovative new products and customer solutions suited to the contemporary economic and business environment. During the year, we continued to develop strategies to capture new customer segments, and have increasingly leveraged on the power of digitalisation, utilising social media to reach new target markets. We have also developed a range of new financial solutions suited to the current economic environment, with distinct solutions for particular market segments. WHO WE ARE KEY INITIATIVES Sustainable Prosperity • I ncrease individual and non-individual CASATIA through a range of marketing initiatives, campaigns and promotions. • E xecuted product campaigns to push for deposits growth for existing products and attract new customer segments such as non-Bumiputera, SMEs and corporate bodies. • I ncrease collaboration with government agencies and universities to promote Bulk Account Opening for their employees and students. Other collaborative efforts include co-branding debit cards with targeted partners to increase new account subscriptions. • O ffering Cash Management solutions to cooperatives, mosques, healthcare companies, schools and legal firms, as well as enhancement of eBanker through Soft Token for conglomerates and companies. • I ntroduced the iGain Corporate transactional investment account for new corporate customers. • Increased lead generation from social media to enhance marketing reach and increase growth of CASATIA • L everaged on SnapNPay platform to cater for e-contributions relating to State Religious Council/Zakat/ NGOs, for local authorities and for mosques. Customer-Centricity We undertook a range of new initiatives to introduce new products and simplify transactions for our customers • P roviding ePayment and eCollection services to State Religious Council and Zakat Collections agency • P romotion of Charity Link and special campaigns • E ncouraged companies to switch to online transactions by promoting subscriptions to SnapNPay via SnapNPay Campaign/Package. Real Economy Continued to support the growth of the national economy and SME sector by offering solutions that widen financial access and improve transactional efficiency. • I ntroduced our Cashline for Awfar and SME Hybrid products to widen customers’ financing options and drive growth in our Al Awfar & iGain offerings, as part of our retention strategy for high net worth customers. Digitalisation • I mplemented Robotic Process Automation digital initiatives to increase efficiency. BUSINESS REVIEW INTEGRATED ANNUAL REPORT 202 1 Key Messages Overview Value Creation MD&A Sustainability Leadership Accountability Financial Additional Information 87
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