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The Sun
5 days ago
- Business
- The Sun
Bank Muamalat launches ATLAS, Malaysia's first faith & lifestyle-aligned Islamic digital-only bank
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 5 June 2025 - Backbase, the global leader in AI-powered banking technology, announces that Bank Muamalat has officially launched ATLAS by Bank Muamalat (ATLAS), Malaysia's first Islamic digital-only bank centered on faith and lifestyle alignment. This milestone represents a transformative leap in Bank Muamalat's journey to redefine Islamic banking, positioning it as a pioneer in Malaysia's rapidly expanding digital banking landscape. By harnessing Backbase's AI-powered Banking Platform, ATLAS delivers a faith-aligned digital experience with seamless onboarding, DuitNow integration, Shariah-compliant financing, and personalized servicing — setting a new benchmark for Islamic financial services in the region. 'ATLAS is more than a digital bank. It is a bold reimagination of Islamic finance for the modern era, built around the values, lifestyles, and aspirations of our customers,' said Khairul Kamarudin, President & Chief Executive Officer of Bank Muamalat. 'It reflects our commitment to leading the next era of Islamic banking that is digital, inclusive, and purpose-driven. Our collaboration with Backbase has played a key role in enabling us to deliver an experience that is seamless, secure, and rooted in faith — one that redefines how banking is lived in today's digital world.' A faith-driven approach to digital transformation ATLAS is designed to meet the growing demand for digital financial solutions that align with customers' faith and lifestyles. Since its pilot phase, the platform has already demonstrated strong early results — enabling faster rollout of new products and improving customer acquisition efficiency through a more streamlined onboarding experience. In the coming months, ATLAS will expand its product offerings to include digital debit and credit cards, flexible personal financing, and a Shariah-compliant gold investment account. These new products will be seamlessly integrated into the existing platform and will further strengthen ATLAS's position in the Islamic digital banking landscape. To enhance customer loyalty, ATLAS introduces a unique rewards program that connects users to exclusive lifestyle offers through curated partners, including well-known brands and services across diverse industries. A partnership for banking growth in Asia Prior to launching ATLAS, Bank Muamalat faced the common industry challenge of fragmented legacy infrastructure. The Backbase AI-powered Banking Platform provided a unified and modular foundation, enabling Bank Muamalat to accelerate its digital roadmap with agility and control. 'We're proud to support Bank Muamalat's bold vision with our AI-powered Banking Platform,' said Riddhi Dutta, Regional Vice President for Asia at Backbase. 'ATLAS is a shining example of how composable banking architecture can deliver tailored, lifestyle-aligned experiences while scaling innovation rapidly across markets. It also reinforces our growing presence in the Islamic banking sector, and exemplifies how Backbase serves as a strategic growth platform for banks seeking to modernize and expand their digital footprint.' Backbase supports over 150 banks worldwide, including Islamic institutions like Libyan Islamic Bank, ila Bank, Bank Al Bilad, and Saudi National Bank — as well as Asia-Pacific leaders such as BDO Unibank (Philippines), HDFC Bank (India), Techcombank (Vietnam) and MyState Bank (Australia).
Yahoo
5 days ago
- Business
- Yahoo
Bank Muamalat Launches Atlas, Malaysia's First Faith & Lifestyle-Aligned Islamic Digital-Only Bank
Pioneering Sharia-compliant faith-aligned digital banking transformation in Malaysia enabled by Backbase's AI-powered Banking platform KUALA LUMPUR, MALAYSIA / / June 5, 2025 / Backbase, the global leader in AI-powered banking technology, announces that Bank Muamalat has officially launched ATLAS by Bank Muamalat (ATLAS), Malaysia's first Islamic digital-only bank centered on faith and lifestyle alignment. This milestone represents a transformative leap in Bank Muamalat's journey to redefine Islamic banking, positioning it as a pioneer in Malaysia's rapidly expanding digital banking landscape. By harnessing Backbase's AI-powered Banking Platform, ATLAS delivers a faith-aligned digital experience with seamless onboarding, DuitNow integration, Shariah-compliant financing, and personalized servicing - setting a new benchmark for Islamic financial services in the region. "ATLAS is more than a digital bank. It is a bold reimagination of Islamic finance for the modern era, built around the values, lifestyles, and aspirations of our customers," said Khairul Kamarudin, President & Chief Executive Officer of Bank Muamalat. "It reflects our commitment to leading the next era of Islamic banking that is digital, inclusive, and purpose-driven. Our collaboration with Backbase has played a key role in enabling us to deliver an experience that is seamless, secure, and rooted in faith - one that redefines how banking is lived in today's digital world." A faith-driven approach to digital transformationATLAS is designed to meet the growing demand for digital financial solutions that align with customers' faith and lifestyles. Since its pilot phase, the platform has already demonstrated strong early results - enabling faster rollout of new products and improving customer acquisition efficiency through a more streamlined onboarding experience. In the coming months, ATLAS will expand its product offerings to include digital debit and credit cards, flexible personal financing, and a Shariah-compliant gold investment account. These new products will be seamlessly integrated into the existing platform and will further strengthen ATLAS's position in the Islamic digital banking landscape. To enhance customer loyalty, ATLAS introduces a unique rewards program that connects users to exclusive lifestyle offers through curated partners, including well-known brands and services across diverse industries. A partnership for banking growth in AsiaPrior to launching ATLAS, Bank Muamalat faced the common industry challenge of fragmented legacy infrastructure. The Backbase AI-powered Banking Platform provided a unified and modular foundation, enabling Bank Muamalat to accelerate its digital roadmap with agility and control. "We're proud to support Bank Muamalat's bold vision with our AI-powered Banking Platform," said Riddhi Dutta, Regional Vice President for Asia at Backbase. "ATLAS is a shining example of how composable banking architecture can deliver tailored, lifestyle-aligned experiences while scaling innovation rapidly across markets. It also reinforces our growing presence in the Islamic banking sector, and exemplifies how Backbase serves as a strategic growth platform for banks seeking to modernize and expand their digital footprint." Backbase supports over 150 banks worldwide, including Islamic institutions like Libyan Islamic Bank, ila Bank, Bank Al Bilad, and Saudi National Bank - as well as Asia-Pacific leaders such as BDO Unibank (Philippines), HDFC Bank (India), Techcombank (Vietnam) and MyState Bank (Australia). About BackbaseBackbase is on a mission to put bankers back in the driver's seat - fully equipped to lead the AI revolution and unlock remarkable growth and efficiency. At the heart of this mission is the world's first AI-powered Banking Platform, unifying all servicing and sales journeys into an integrated suite. With Backbase, banks modernize their operations across every line of business - from Retail and SME to Commercial, Private Banking, and Wealth Management. Recognized as a category leader by Forrester, Gartner, Celent, and IDC, Backbase powers the digital and AI transformations of over 150 financial institutions worldwide. See some of their stories here. Founded in 2003 in Amsterdam, Backbase is a global private fintech company with regional headquarters in Atlanta and Singapore, and offices across London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City. Learn more at About Bank MuamalatBank Muamalat is a leading Islamic bank, established on 1 October 1999, and is governed by Islamic Financial Services Act 2013 (IFSA). As a full-fledged Islamic financial institution, the bank offers its customers a broad range of services, meeting the needs of both individuals and institutions. Bank Muamalat provides individuals with services ranging from deposit accounts, asset management, financing needs for automobiles, homes and personal use as well as wealth management products such as family and general takaful, investments, Islamic estate planning to non-financial products such as Islamic funeral management, Quranic learning and halal tours. The Bank offers corporate and institutional customers the full product range of a leading corporate and investment bank, from cash management, payment solutions including trade and export finance to international foreign exchange, financing and capital market transactions. Bank Muamalat has a presence nationwide via a network of 68 branches. In addition, Bank Muamalat also has its electronic channels encompassing i-Muamalat (the Bank's internet banking solution) and our Self Service Terminals (SST) which are available at almost 141 locations through its network of ATMs, CDMs and CICOs. We also provide corporate internet banking at your convenience. Bank Muamalat is a member of the DRB-HICOM Berhad Group which owns 70% of the Bank's shares with the remaining stake held by Khazanah Nasional Berhad. Bank Muamalat was officially accepted as a member of Global Alliance for Banking on Values (GABV) on 15 November 2017. Signaling a growing appetite for the values-based banking movement, Bank Muamalat is the first Islamic bank in the world and the first in the Southeast Asian region to be accepted as a member of GABV. The issuer is solely responsible for the content of this announcement. Hashtags: #Backbase #digitalbanking #AIPoweredBanking #ArtificialIntelligence #retailbanking #omnichannelbanking #businessbanking #smebanking #corporatebanking Media Contact:BackbaseBharadwaj Bank MuamalatMohd Nazrul Hawa SOURCE: Backbase View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
5 days ago
- Business
- The Star
System offers enhanced access to 155 libraries, digital learning
Visitors trying the simulation capsule in the u-Library gallery at the National Library in Kuala Lumpur. — Courtesy photos THE National Library of Malaysia's (NLM) u-Library service enables users to borrow books from 12 consortium libraries across Malaysia. The initiative is significant as it provides Malaysians access to reading materials, allowing visitors to access search collection catalogs from 155 libraries. The service also provides 24/7 access to digital reading materials, NLM said in a media statement. It offers more than 800,000 digital reading materials subscribed from 22 databases. The materials consist of e-books, e-magazines, e-journals, e-newspapers, audiobooks and e-learning. The system was developed by the Malaysian Communications and Multimedia Commission (MCMC) in 2009 and completed in 2012. Since then, it saw various improvement, including the integration of digital material database subscriptions in 2016. Further enhancements include an FAQ chatbot and a more user-friendly membership registration with the help of the RFID system. NLM said the system would be integrating artificial intelligence (AI), in its effort to redevelop the u-Library 2.0 system. Children playing with the tablets provided in the library. These future developments consist of an AI chatbot for direct assistance, an integrated search feature, combining both searches for physical and digital book materials simultaneously, and a single sign-on feature to assist users in signing in and accessing materials with convenience, it added. To level up with current technology, u-Library will also offer the e-wallet payment method (DuitNow) for efficient, quick and cashless payments. With more than 810,935 members and an average of around 100,000 active members each year, these initiatives help provide free services, and the ability to borrow physical and digital books with ease to the users, NLM further said. Additionally, the u-Library's initiative aligns with the United Nation's Sustainable Development Goals (SDGs). It supports Goal 4 (Quality Education) by allowing access to reading materials, resulting in lifelong learning, and Goal 9 (Infrastructure, Industrialisation and Innovation) with the development of digital infrastructure. The sustainability of this initiative is achieved through constant awareness programmes with the help of media campaigns, workshops, training and outreach programmes in schools, higher education institutions, and communities, said NLM. For better maintenance and support, u-Library has consistent system upgrades, a user support centre for assistance with technical issues, and a Disaster Recovery support system that is restored within 24 hours in the case of a disaster, it added.
The Star
02-06-2025
- Entertainment
- The Star
Green tech, AI and robots galore: Highlights from the 2025 World Expo in Japan
The 2025 World Expo in Osaka is now in full swing after kicking off back in April. The event welcomed over one million visitors in its first 13 days, with organisers aiming for a total of 28.2 million attendees over the course of the six-month event. Held every five years in a designated host country, the World Expo is an international showcase of culture, technological advancements, innovation, and inventions from nations (including Malaysia) and companies from around the world, presented in buildings specially built for the exposition called 'Pavilions'. This marks the second time that Osaka has hosted the World Expo, with the last time being back in 1970. Malaysia meets the world True to the theme of 'Weaving a Future in Harmony', Malaysia's Pavilion laid out a roadmap for the country's ambition to become a 'Smart Nation' by 2040, in a gallery splitting this ambition into several phases. Malaysia's Pavilion laid out a roadmap for the country's ambition to become a 'Smart Nation' by 2040, with a gallery splitting this ambition into several phases. This includes implementing integrated command centres from 2026 to 2030, with the aim of monitoring cities in real-time to ensure more efficient operation, allowing data-driven decision-making that would make predictions for traffic management and public safety trends. From 2031 to 2035, Malaysia envisions smarter and more responsive cities through advanced analytics and Internet of Things sensors operating in cities, with data shared across government agencies, enhancing services like waste management, energy efficiency, crime prevention, mobility, and infrastructure. Under the roadmap, Malaysia would finally achieve 'visionary smart cities' by 2040, with liveable, sustainable, safe, and seamlessly connected urban spaces. The pavilion also showcased a diorama of Kuala Lumpur, complete with a projection-mapped light show highlighting key landmarks and train lines throughout the city. It also featured an augmented reality (AR) element, with tablets providing explanations when the camera is pointed at a specific part of the city. The booth highlighted Malaysia's robust QR payment systems offered through various payment platforms, including DuitNow, MAE, GrabPay, TNG eWallet and Agro Bank, while also showcasing registered intellectual properties. Attendees could learn more about landmarks such as the Petronas Twin Towers, the Tun Razak Exchange, and public transportation systems like the LRT and monorail lines by tapping on the AR overlay panels that are displayed on the tablet. The overlays display information about the landmarks, infrastructure, and offer suggestions for other sites to explore. Ministries are taking turns serving as exhibitors at the Malaysia Pavilion during the Expo, with the Domestic Trade and Costs of Living Ministry (KPDN) managing the booth during LifestyleTech's visit. The booth highlighted Malaysia's robust QR payment systems offered through various payment platforms, including DuitNow, MAE, GrabPay, TNG eWallet (see story on p4), and Agrobank, while also showcasing registered intellectual properties. A Hall of Fame celebrating notable figures from Malaysia's past and present. At the end of the Malaysia Pavilion was a Hall of Fame, celebrating notable figures from the nation's past and present, spanning a wide range of fields. This includes national athletes like Datuk Wira Lee Chong Wei and Datuk Nicol Ann David, along with stars like Tan Sri P. Ramlee and Tan Sri Michelle Yeoh. Riding the future Several Pavilions exhibited robots and their potential to transform the future of humanity. For instance, the Robot & Mobility Station by the East Gate of the Expo included a mix of experiences and demos leveraging robotics. On display was an AI (artificial intelligence) suitcase developed by the Consortium for Advanced Assistive Mobility Platform, meant to guide visually impaired people to requested destinations. This AI 'suitcase' guides those with vision impairments with voice and tactile directions. Despite the name, the suitcase provides no storage space whatsoever, with its internals completely filled with sensors, including lidar, which is commonly used with autonomous vehicles, a satellite positioning antenna, and camera. These sensors would then be used to detect obstacles and provide guidance through voice directions, with additional tactile directions provided through a spinning dial on the handle. The station also had three varieties of mobility devices, including the Daihatsu e-Sneaker, which could be rented for use around the Expo grounds. The e-Sneaker is capable of a top speed of 4km per hour, with a maximum range of 12km. The e-Sneaker can be borrowed by attendees to get around the Expo. Equipped with a row of sensors on the front and back, it can detect people and obstacles in front of riders, automatically dropping speed to 1kph to avoid collisions. Alongside it was the larger Waku Mobi scooter, capable of a much higher top speed of 20kph, boasting greater stability during rides due to its entire body being able to tilt without shifting the rider when on uneven surfaces. The Waku Mobi scooter can remain stable even when on jagged terrain for smoother rides. Meanwhile, the wheelchair-like Uni-One can move in any direction and is controlled by riders shifting their body weight or leaning, entirely hands-free. The Future City Pavilion featured the Corleo, a concept all-terrain vehicle from Kawasaki. As the name implies, it is meant to look like a robotic lion which people can ride like a horse. Kawasaki's all-terrain concept vehicle, the Corleo, looks like a robotic lion. Though based on the video shown behind the Corleo at the event, it might be more apt to describe it as a mountain goat, since it was mainly depicted in hilly and mountainous environments. Behind the Pavilion is the advanced air mobility vehicle from Lift Aircraft called Hexa, which was unfortunately only a static display during LifestyleTech's visit. It is unclear if it will be taking flight sometime later during the Expo. Robotics galore Also at the Future City Pavilion were completely autonomous farming robots from Kubota, a Japanese agricultural machinery company, with units in two different sizes on show. The larger Type V model is intended as a versatile platform capable of handling every stage of farming, from tilling to harvesting using various attachments and tools, while the smaller Type S is meant to be an assistant robot that can haul cargo and perform more precise tasks. Type V and Type S: Two multifunction agriculture robots were shown off at the Future Cities Pavilion. This is the Type S. Then there's the MechatroMate Q from robotics company Living Robot, a small elder care robot that doubles as a cross between a walking smartphone and a smart home hub. It can deliver video calls from family members directly to the person it's caring for with its built-in 13-megapixel camera, provide medication reminders, control appliances like air conditioners, and even contact emergency services if something goes wrong. The MechatroMate Q is an elder care robot that pulls double duty by making calls and giving medication reminders. Another robot on show was the Qlogo Reactive Ver. 2, which is a telepresence robot, meaning that it can be controlled by someone off-site and be tasked with a specific job that can be performed in real-time. Back at the Robot & Mobility Station are space-themed experiences, including a virtual reality spacewalk, which puts attendees in the seat of a space shuttle launch. The simulator chair even rotates 360° around to mimic zero gravity and the intensity of a shuttle launch. Alongside it is a moon driving experience with a simulator setup with hydraulics to simulate the rugged lunar surface, and the remote operation of excavation equipment on the moon with joysticks. Cutting-edge vending machines No conversation about exploring Japan would be complete without a vending machine mention. Aside from all vending machines on the Expo's grounds accepting card and QR payments in line with the event's cashless vision, vending machine providers are also honing in on sustainability tech. Fuji Electric and Coca-Cola's vending machine can be powered by hydrogen. A hydrogen-powered vending machine co-developed by Fuji Electric and Coca-Cola was also on show. While it works about the same as a regular vending machine, what makes it special is the replaceable hydrogen cartridges it uses as a power source. Rather than requiring a power outlet (and the associated infrastructure like power lines and electrical grids), these vending machines operate so long as the hydrogen cartridges are replaced when depleted. The hydrogen cartridges provide energy through a chemical reaction with hydrogen and oxygen, allowing these vending machines to be installed basically anywhere. This would also mean the vending machines would be powered by a clean energy source, assuming that green hydrogen is used, meaning that the production process gives off zero emissions. For context, grey hydrogen, which emits carbon dioxide when produced, accounted for around 92% of the hydrogen produced in 2022, according to a Forbes report. During LifestyleTech's visit however, it was switched to using regular electricity due to issues with hydrogen supply. A notice on the machine mentions it will resume using hydrogen power in early June. Meanwhile, in another part of the Expo, an Asahi vending machine was 'eating' carbon dioxide. It featured a built-in carbon dioxide absorber which is claimed to capture 20% of the annual emissions generated by powering each unit. Asahi's vending machine can 'eat' carbon dioxide and be powered by solar energy. While not carbon neutral, it does work to offset the carbon footprint created from powering them. A notice on the vending machines also says they have already deployed in Osaka's metro stations. However, when combined with another technology, namely solar panels, these Asahi vending machines might even become carbon negative. Some of those deployed at the Expo are equipped with a roof made of solar panels, along with a sodium battery to store a charge when skies are overcast or when the sun isn't out. There are some caveats, though, as a notice on the machine states that the cooling performance may be affected when it is running solely off the power stored in the battery, meaning that drinks may not be at the ideal temperature. Other tidbits Also spotted at the Expo was flexible solar power generation film designed to be installed on uneven surfaces like roof tiles, which can generate and store energy in connected batteries. The stored power can then be used for everyday needs, such as charging a smartphone or powering small household devices. Lift Aircraft's Hexa was shown as a static display. Malaysians looking to visit the Expo can install an app developed by the organisers, called EXPO2025 Personal Agent, which can provide recommendations based on a particular guest's likes, with a suggested itinerary based on the entrance used by the attendee and their time of entry, along with route navigation and restroom pit stops. It also gives attendees quests to visit certain spots as part of a virtual stamp rally. While Japan has a reputation for being a cash-first country, Expo organisers have gone in a different direction with a fully cashless policy, encouraging visitors to use credit and debit cards, QR codes, and prepaid card options during their time at the event. All in all, it makes for a familiar experience for Malaysians, who have long embraced e-wallets and contactless payments back at home. The Osaka World Expo runs until Oct 13, 2025.
The Star
06-05-2025
- Business
- The Star
BSN online and mobile banking services will be down for scheduled maintenance this Friday (May 9) to Saturday (May 10)
According to the bank, such scheduled maintenance activities are intended to 'ensure a comfortable service' for customers. — FAIHAN GHANI/The Star PETALING JAYA: Bank Simpanan Nasional (BSN) has announced that its myBSN online banking and myBSN mobile app services will be down for scheduled maintenance starting this Friday (May 9) at 11pm until Saturday (May 10) morning at 10am. The bank wrote in a notice posted on its Facebook page that customers will not be able to make instant transfers using DuitNow or performJomPay, FPX, and BSN credit card transactions until the scheduled maintenance concludes. According to the bank, such scheduled maintenance activities are intended to "ensure a comfortable service" for customers.
