Pioneering Sharia-compliant faith-aligned digital banking transformation in Malaysia enabled by Backbase's AI-powered Banking platformKUALA 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). Hashtag: #Backbase #digitalbanking #AIPoweredBanking #ArtificialIntelligence #retailbanking #omnichannelbanking #businessbanking #smebanking #corporatebanking The issuer is solely responsible for the content of this announcement. About Backbase Backbase 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. 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. News Source: Backbase
05/06/2025 Dissemination of a Financial Press Release, transmitted by EQS News. |
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