Extra tags: data
HCL Technologies Malaysia Sdn. Bhd. ("HCL Technologies") has been appointed by Affin Bank Berhad ("AFFIN BANK" or "the Bank") to enhance its data architecture and enable data-driven decision-making across all aspects of its operations, allowing the Bank to supercharge its metamorphosis journey and fuel its next phase of business growth.
AFFIN BANK's on-premises data platform will be integrated with Google Cloud's secure and scalable public cloud platform, which will be equipped with Artificial Intelligence and Machine Learning capabilities. This investment is part of the RM316 million that the Bank has set aside in 2022 specifically for capital expenditure (CapEx) in Information Technology. This integration will improve the Bank’s credit scoring and customer profiling processes and enable automated workflows that will significantly reduce the timeframe for evaluating and processing customers’ account opening or any loan applications. This is done by unifying the Bank’s existing data sources, while also incorporating Google Cloud’s best-in-class encryption, by default, for data protection and access control.
President and Group Chief Executive Officer of Affin Bank Berhad, Y.Bhg Datuk Wan Razly Abdullah Wan Ali said, “Our customers will greatly benefit from this, as data architecture enhancement will reshape how products and services are designed and delivered. In line with the Bank’s commitment to invest in digitalisation as it aspires to be a forward-looking, tech-enabled and customer-centric organisation, we will be spending RM316 million in IT CapEx this year and more will be allocated in the following years”.
He added, “We are building for the future by tapping on advanced cloud-based technologies and data-driven strategies to improve our decision-making and promote greater synergies across our operations.
The collaboration with HCL Technologies and Google Cloud demonstrates our progressive and innovative approach, which will place AFFIN BANK in a better position to reinforce resilience while thriving in the evolving digital age, achieve sustainability, and consistently improve our customer experience”.
“The entire data integration exercise will be carried out in several developmental phases and is expected to be completed and fully operational by end-2023. It is a key part of AFFIN BANK’s data infrastructure modernisation efforts under our A25 Plan to future-proof ourselves amidst the rapidly changing industry landscape, in line with our mission to provide unrivalled customer service and digital leadership,” added Y.Bhg Datuk Wan Razly.
AFFIN BANK’s A25 Plan is a follow-up to the Bank’s “Affinity in Motion (AIM22)” Transformation Program that will conclude in 2022. Key objectives of the Bank’s A25 Plan include gearing up its profitability and growth, providing value-based banking for its customers, and leapfrogging toward providing unrivalled customer service by 2025.
Head of ASEAN and North Asia of HCL Technologies, Mr Tan Boon Hien said: “As a technology partner, we will ensure AFFIN BANK has better process integration on-premises and access to real-time customer insights for faster application assessment. This will allow it to deliver unprecedented services and continue to be one of the leading and most reputable financial institutions in Malaysia.”
Country Director, Singapore and Malaysia of Google Cloud, Ms Sherie Ng added, “By tapping the best of Google Cloud’s capabilities in data, security, infrastructure, Artificial Intelligence and Machine Learning, AFFIN BANK can accelerate the delivery of compelling products, services and user experiences, and most importantly, strengthen financial well-being and inclusion for the rakyat and businesses."
Executive Vice President and Global Head of HCL Google Ecosystem, Mr Sanjay Singh said, “Our strategic partnership with Google Cloud helps us to accelerate our clients’ digital transformation initiatives. HCL’s investments in Google Cloud-specific IP and solutions, which are part of our Cloud Smart suite, enable us to rapidly and securely migrate and modernise AFFIN BANK’s technology infrastructure and drive better business outcomes.”
