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Bank Muamalat Malaysia Boosts Digital Strategy with ATLAS Platform, New Products
🇲🇾 Malaysia /Technology

Bank Muamalat Malaysia Boosts Digital Strategy with ATLAS Platform, New Products

From Utusan Malaysia · (30m ago) Malay Positive tone

Translated from Malay, summarized and contextualized by DistantNews.

TLDR

  • Bank Muamalat Malaysia is intensifying its digital strategy with the ATLAS platform, introducing three new products this year.
  • The new offerings include credit cards, investment products, and enhanced app features, aiming to expand its Shariah-compliant digital banking ecosystem.
  • The ATLAS platform, launched last year, has attracted over 20,000 users, primarily young individuals, and integrates lifestyle features with Islamic financial needs.

Bank Muamalat Malaysia is making significant strides in its digital transformation journey, underscoring its commitment to becoming a leading Shariah-compliant digital financial institution. The strategic focus on the ATLAS platform and the introduction of three key products this year signal a proactive approach to meeting the evolving needs of its customer base.

Among the innovations to be introduced are lifestyle functions such as akikah and korban services, as well as enriching the user reward and loyalty system to increase customer engagement.

— Hazrizal HassanDigital Banking Director at Bank Muamalat, detailing the new features on the ATLAS platform.

The expansion of the digital banking ecosystem through credit cards, investment products, and enhanced app features is crucial in today's tech-driven financial landscape. Bank Muamalat recognizes that user behavior is increasingly reliant on digital solutions, and ATLAS is positioned as a comprehensive lifestyle banking platform that blends convenience with faith-based principles.

ATLAS provides a different approach compared to other digital banks by highlighting the concept of lifestyle banking that combines two main cores.

— Hazrizal HassanExplaining the unique value proposition of the ATLAS platform.

What sets ATLAS apart is its unique approach, integrating a rewards and loyalty program with essential Islamic financial services. Features like prayer times, zakat, and Sadaqah, alongside a digital Al-Quran, are seamlessly incorporated. This thoughtful integration ensures that while the platform is rooted in Islamic values, it remains inclusive and accessible to all users, regardless of their religious background.

The first core focuses on rewards and loyalty programs, while the second core emphasizes the integration of Muslim users' daily needs such as prayer times, zakat, sadaqah, and access to the digital Al-Quran on one platform.

— Hazrizal HassanElaborating on the dual focus of the ATLAS platform.

The early success of ATLAS, with over 20,000 users, predominantly young professionals, indicates a strong market reception. This demographic is particularly receptive to digital innovations and values platforms that align with their daily lives and financial aspirations. Bank Muamalat's investment in ATLAS is not just about technology; it's about redefining Islamic banking for the modern era and ensuring financial inclusivity in Malaysia's digital economy.

Although it features Islamic lifestyle-based features, ATLAS remains inclusive and open to all users regardless of religion.

— Hazrizal HassanReassuring the inclusive nature of the ATLAS platform.
DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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