Page 92 - Bank-Muamalat-AR2020

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

ECONOMIC

We received 621,095 calls to our Customer Service Centre in DIGITAL BANKING
FY2020, almost double of the 325,679 received the year before.
Majority of the calls (47%) were in relation to internet banking Digital Banking Solutions
due to the upsurge in online banking transactions during the We continue to advance digital banking capabilities in FY2020,
year. Total answered calls improved to 90.7% as compared driven by the pandemic environment which catalysed more
to 87.3% in FY2019. Call abandonment rate lowered to 9% online transactions and engagements. Investments on this
in FY2020 as compared to 12.7% in FY2019. There was also front are empowering our customers to take charge of their
a 16.32% increase in monthly average complaints received as financial wellbeing according to their own risk appetite.
compared to FY2019, which totalled 2,648 complaints.
Several new initiatives were introduced for FY2020 towards
In an effort to exceed industry standards of resolving cases becoming a digitalised bank, among which was the
within 14 days, we have targeted to resolve cases within introduction of the Muamalat Application Platform (“MAP”)
two (2) working days and in FY2020 we are proud to have for online applications of our financing products. Through
achieved this turnaround time (“TAT”) on all feedback MAP, financing applications are faster, easier and more
resolution and 91% of complaints. All cases were resolved accessible, eliminating the need for multiple visits to branch.
fairly and on a timely basis.
As at end FY2020, a total of 516 financing applications have
The involvement of the Bank’s Senior Management been approved via MAP. The data analytics employed in
(“MANCO”) in relation to customers’ feedbacks and MAP has also improved processes, as the Bank can easily and
complaints has been a key strength on this front as it elevates efficiently monitor the figures achieved by the sales team via
customer satisfaction as a significant agenda for the Bank. MAP’s admin dashboard. This allows for better deliverables,
MANCO is involved in the review of performance and and faster approvals and disbursements.
effectiveness of feedback handling to ensure due process is The development of eKYC solution, partnering with our
undertaken, and identify areas where the Bank has fallen sister company POS Malaysia, for customer on-boarding was
short in delivering a fair outcome to our customers.
embedded in MAP during the year. With the introduction of
Customer Data Protection eKYC capabilities, the Bank is able to promote our products
to new market segments, and increase deposit revenue.
With increased digitalisation, the Bank is mindful of the need
to be vigilant against new cyber threats and ensure customer In July 2020, another digital initiative was successfully
data privacy. To ensure robust cyber security controls are in realised when the Ar-Rahnu Online Auction System was
place, and information within the Bank is protected, the Bank rolled out as a solution towards improving the impairment
has undertaken these initiatives: rate of Ar-Rahnu business. The system has already proven
to significantly reduce impairment from RM6.1 million in
• Advanced Security Operation Centre (“ASOC”) which April 2020, to RM2.3 million by end-December 2020. Phase 2
monitors the bank network and endpoint security posture of this project is the launch of the mobile app which will be
through various sensors such as Firewall, Network IPS, completed by 2021.
server logs and endpoint malware security plus threat
The establishment of Jariah Fund in September 2020 as part
intelligence feed and phishing/brand monitoring.
of Social Financing, was the final digital banking initiative
• Symantec software DLP solution which filters electronic unveiled in FY2020. This is an industry-first social welfare
data in/out from workstation/PC/Laptop plus Hard Disk crowdfunding platform to help those in need and promote
encryption for laptops provided to staff by BMMB. sustainable impact to uplift the socioeconomic status of
marginalised communities. The platform eases the donation
• Enhanced or amended monthly Cyber Security Dashboard drive through its transparent features by providing current
Reporting for Management and Board of Directors. updates of the amount collected and the state of the intended
beneficiaries. It has also enabled the Bank to segregate and
• Enhanced annual Penetration Testing and Vulnerability equally distribute the funds collected to intended receivers
Assessment.
more efficiently.