The Digital Banker ’s Post

Catatan no 04: The technology and operations of the year. PT Bank Tabungan Negara (Persero) Tbk leads in technology and operations at ABF Wholesale Banking Awards 2024. BTN's strategic IT advancements and operational efficiencies secure top honours, affirming its role as a pioneer in the Indonesian banking industry.   PT Bank Tabungan Negara (Persero) Tbk (BTN) has been honoured with the prestigious Indonesia Domestic Technology & Operations Bank of the Year title at the ABF Wholesale Banking Awards 2024, recognising its robust IT strategies and operational excellence. This accolade underscores BTN's commitment to integrating cutting-edge technology to enhance its banking operations, aligning with its vision to become the Best Mortgage Bank in Southeast Asia by 2025.   BTN’s strategic focus on Information Technology is encapsulated in its Information Technology Strategic Plan (RSTI) spanning 2021 to 2025, which revolves around enhancing infrastructure and security for data processing. This strategy is founded on four pivotal pillars, including aligning IT initiatives with business objectives, designing scalable technology stacks, establishing a versatile IT operating model, and developing an IT transformation roadmap that integrates human capital, processes, and technology.   Throughout 2022, BTN undertook significant preparations for a large-scale transformation. This included revising critical systems for enhancement or replacement, adopting an agile-based multi-speed IT operating model, and concentrating on elevating IT maturity. These efforts are part of a broader agenda to develop a digital mortgage ecosystem through digital channel development, merchant system improvements, and business process automation, all aimed at bolstering efficiency and regulatory compliance. #BTN #HGCTHI #LifeasBTNers #TechnologyTakeOver #ITMajuBTNMelaju

Affin – will a change of shareholders improve performance The performance of Bursa banking group Affin over the past 12 year was nothing to shout about. Its performance, measured against a panel of 10 Bursa Malaysia banks, is below the sector median across key metrics such as returns, efficiency, and loan performance. However, it has improved its capital adequacy ratio. But I would not consider Affin a value trap as it remains profitable with a margin of safety over 30% based on the asset value. However, it lacks a sufficient margin of safety under the earnings value. The Sarawak State Government has recently acquired a substantial stake in the bank. There is hope that the state would divert its funds to Affin thereby improving its deposits and hopefully grow its loans. But if the challenge is efficiency and loan performance, I am not sure whether there would be a quantum leap in performance. 

Hong Leong Bank Bhd is revamping its branches all over Malaysia as part of a digitalisation push under its branch transformation program, according to its top official. https://lnkd.in/gxtywA2m

Bank Alfalah Limited: Is this what we expect from our banking system? On 28th November, an unauthorized transaction of PKR 50,000 was made from my Bank Alfalah account to someone named Azhar Abbas. I have no idea how this happened. I immediately lodged a complaint via their helpline. I was assured that my issue would be resolved and the transaction would be reversed. To double-check, I even contacted Bank Alfalah’s official Facebook page, where their social media representative reassured me that there was no need to worry—the amount would be reversed. Fast forward to 6th December, I called their helpline again, only to find out that my complaint had been declined. The reason? “We do not have further transaction details.” Excuse me? How is this even possible? The transaction statement clearly shows the IBAN number of the recipient and all relevant details. If a customer’s complaint cannot be resolved despite all the evidence, what does that say about the integrity and efficiency of our banking system? Here are my questions: Who is responsible for ensuring my money is safe? How can such a large amount be transferred without my consent? What steps are banks taking to prevent such incidents? And most importantly, who will take accountability if my hard-earned money is lost? It’s deeply frustrating to witness such negligence and lack of resolution in a matter that directly affects customers' trust in the banking system. I urge Bank Alfalah Limited to take immediate action to investigate this issue and provide a resolution. To my network: Has anyone faced a similar issue with their bank? How did you get it resolved? Bank Alfalah Limited #BankingFraud #CustomerExperience #BankAlfalah #FinancialSecurity

Disappointing Experience with Meezan Bank’s Customer Service I am writing to express my dissatisfaction with the customer service experience I recently had with Meezan Bank. I encountered several issues that were handled poorly and caused unnecessary stress: Delayed Response: I had to wait an unreasonable amount of time for calls to be answered, which is unacceptable for a service-oriented organization. Slow Resolution: Even after my issue was acknowledged, the resolution process was extremely slow. The lack of urgency to address my concern was frustrating. Double Transactions: On top of everything, the bank mistakenly doubled my transactions, leading to additional complications that could have been easily avoided with better attention to detail. As a loyal customer, I expect a higher standard of service, especially when dealing with financial matters that require accuracy and promptness. I hope Meezan Bank takes this feedback seriously and improves its customer support processes for the future. I would appreciate a swift resolution to my issue and better communication moving forward. #CustomerService #Banking #MeezanBank #CustomerExperience #FinancialServices #CustomerSupport #BankingProblems #Disappointment #ConsumerFeedback #ServiceImprovement

3 YEARS. 3 WINS. ONE DIGITAL REVOLUTION. 🚀 Bank Alfalah secures Best Digital Bank for the THIRD year in a row! 🏆🏆🏆 #DigitalBanking #WinningStreak #BestDigitalBank #TheWayForward #BankAlfalah

Indonesia’s Financial Services Authority (“OJK”) has taken a major step towards advancing regulation and consistency of the country’s sharia banking sector with the introduction of new guidelines for sharia-based banking products. Issued in October 2024, these guidelines are designed to reinforce the distinctive characteristics of sharia banking and highlight its unique competitive advantages, distinguishing it from conventional banking services. The new guidelines cover three key forms of product: (i) Mudarabah Financing Product (“MFP”), (ii) Sharia Restricted Investment Account (“SRIA”) with Akad Mudharabah Muaqayyadah, and (iii) Cash Waqf Linked Deposit (“CWLD”). These guidelines aim to align perspectives and practices among industry stakeholders by providing clear, detailed instructions for implementing these products. Previously, sharia banking products were regulated under the broad remit of general laws,leading to potential uncertainty and variation in their interpretation and application. In this ABNR Legal Update, we present an overview of each guideline and examine the implications of these changes. 1.      MFP Guideline An MFP is a profit-sharing-based financing product based on Akad Mudarabah, which is a cooperation agreement related to a business venture between a fund provider (shahibul mal) and a fund manager (mudarib), where profits generated from the business are shared in accordance with an agreed profit-sharing ratio. This distinctive profit-sharing feature makes MFPs an alternative option to traditional banking products for business owners who are looking to acquire working capital financing from a third-party financier. Key characteristics of Akad Mudarabah governing an MFP as set out in the MFP Guideline comprise the following: a.      Parties of Akad Mudabarah There are two parties in an Akad Mudabarah, namely the bank acting as fund provider (shahibul mal) and the customer as fund manager (mudarib). Under an MFP, the customer may use the fund provided by the bank to engage in various agreed-upon business activities that align with Sharia principles. Meanwhile, the bank does not take part in day-to-day management of the business but is entitled to offer guidance and oversight. Read more: https://lnkd.in/gErXTv6V By partners Ayik Candrawulan Gunadi, Yanny Suryaretina, senior associate Novario Asca, and associate Kenny Poltak #ABNRLaw #ABNRLegalUpdate #OJK

Malysia's Bank Muamalat signs long-term deal with Backbase. In a strategic move towards becoming a leading, next-generation digital Islamic Bank for all, Bank Muamalat Malaysia Berhad (Bank Muamalat) has announced a long-term partnership with Backbase, the global leader in Engagement Banking. This collaboration, together with Mambu for its core banking transformation, marks a significant milestone in Bank Muamalat’s journey to revolutionize its digital Islamic Banking offerings. Driven by their mission and the desire to create an unmatched customer-centric experience, Bank Muamalat leverages platform technology to innovate towards a unified Islamic digital banking experience, bridging silos, and traditional banking practices. With the Backbase Engagement Banking Platform serving as the anchor platform, facilitating end-to-end processes including onboarding, transactions, financing, as well as backend consumer servicing and engagement, Bank Muamalat is equipped to create customized and unique customer journeys with security, consistency, acceleration, and scalability. Source: https://lnkd.in/eVpymGuD #bank #banking #partner #partnership #banks #bankingindustry #financialtechnology #futureofbanking #financialservices