Page 54 - Bank-Muamalat-AR2020

52 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
About Us
ANNUAL REPORT FY2020

CONSUMER

BANKING

MOVING FORWARD
After a year of uncertainty, and in response to the pandemic, the Bank aims to
accelerate business growth and deliver seamless customer experiences by leveraging
on a digital platform. The Bank also targets to enhance the use of digital self-service
1.14% channels to enable customer engagement at a lesser cost than via branch and
phone-based approaches. The Bank will introduce digital products and services for
all financing, deposits and wealth products to heighten its competitive edge. For
faster and wider coverage, a digital app and service driven approach will lead the
Consumer Banking’s impaired way forward.
financing ratio for FY2020
(FY2019: 1.60%) Greater emphasis on customer centricity will also require the Bank to match
products with customer demographics, build strong business relationships, and
Performance Review offer excellent personalised service and consultancy. In meeting customers’ needs
and expectations, and identifying customers of good credit, we intend to provide
Despite the business disruptions faced, tailor-made products and services by harnessing big data analytics capabilities. This
Consumer Banking closed the financial customer-oriented approach will help the Bank to introduce flexible and modular
year with revenue of RM619.7 million, product packages whereby customers can manage and optimise their accounts or
a 21% increase from RM512.4 million financing services at their convenience.
in FY2019, mainly driven by robust
financing income growth of 29% to Through VBI, we commit to deliver more products and services to generate a
RM613.5 million. This accounted for positive and sustainable impact to the economy, community and environment. The
69.8% of the Bank’s total financing Bank also aims to deliver long-term value for our stakeholders through balance
income during FY2020. The segment sheet strengths. This entails a strong source of capital, funding and liquidity
remained the key player contributing position with a diversified business model.
53% of total Bank revenue for FY2020.
Currently, we are at the phase whereby banking is used as a platform for
Fee and commission income decreased traditional products such as financing, current and savings accounts, credit cards,
by 0.3% or RM0.1 million mainly due retail investments and money market accounts. Hence, in the next five (5) years,
to shorter banking hours and closure we target to make banking cashless, ubiquitous, and a part of consumers’ day-
of certain branches during the MCO. to-day lifestyles. In the short-term, this entails leveraging on customer-centric IT
Making steadfast progress on its strategy and Application Programming Interfaces (“APIs”), analytics, cloud and
asset quality journey by focusing on micro service enablers. In the long term, we will ensure that banking evolves into
higher-rated customer segments and plug-and-play services with the adoption of API and the move to open banking
improving the payment monitoring (i.e. Integrating MAP On-The-Go with external business partners).
process, Consumer Banking’s impaired All possible opportunities will be assessed from every angle for our journey
financing ratio reduced from 1.60% to forward, in our commitment to enhance performance and deliver greater value for
1.14% in FY2020.
the next financial year.
In line with the Bank’s VBI commitment,
the Division also provided much needed
financial assistance to customers, which In the next five (5) years, we target to make banking
included reassessing customers’ debt cashless, ubiquitous, and a part of consumers’ day-to-day
classification and repayment structures, lifestyles. In the short-term, this entails leveraging on
in addition to relief initiatives that customer-centric IT strategy and Application Programming
cushioned their financial burdens.
These were provided over and above Interfaces (“APIs”), analytics, cloud and micro service
BNM’s introduced measures such as enablers. In the long term, we will ensure that banking
the automatic financing moratorium for evolves into plug-and-play services with the adoption of
businesses and individuals to ease cash API and the move to open banking.
flow strains during the crisis.