Banking giant Maybank strengthens ties with Microsoft to quicken digital advancement and spur AI-centric innovation.
Maybank and Microsoft Partner for Digital Transformation
Maybank, a leading financial services group in Malaysia, has announced a strategic partnership with Microsoft, worth approximately RM1 billion over five years. This collaboration aims to drive customer centricity, enhance operational agility, and foster a culture of continued innovation.
The partnership will see Maybank adopting Microsoft Azure as one of its main cloud platforms, enabling quick deployment of new services and improving operational efficiencies. This move is expected to boost operational agility and drive innovation.
Maybank will also roll out Microsoft 365 across all its 44,000 employees, with the AI-powered intelligent assistant, Microsoft 365 Copilot, set to enable personnel to innovate further and drive improvement in customer experience, efficiency, and effectiveness of operations.
The strategic partnership will explore the establishment of a Centre of Excellence for cloud and AI-powered innovation, a collaboration space for both companies. This Centre will focus on embedding AI and machine learning technologies to support new digital products and services, streamline processes, and strengthen security measures.
Dato' Sri Khairussaleh Ramli, President & Group CEO of Maybank, stated, "This partnership is a leap forward in Maybank's digital transformation journey beyond its M25+ strategy." He believes the partnership will help better serve customers, improve ways of working, and accelerate innovations.
Maybank's goal with the partnership is to build a truly agile, faster, and more competitive environment for sustainable growth and long-term value creation for all stakeholders and customers. The bank expects its strategic partnership with Microsoft to deliver significant benefits in customer experience, operational agility, and innovation.
The partnership will sharpen customer focus through AI-driven personalization and real-time data analytics, allowing more tailored and responsive services. Maybank will also leverage Microsoft's advanced security tools to enhance its existing cybersecurity posture, ensuring robust data protection.
Maybank's focus on embedding AI to analyze vast transaction data, enhance fraud prevention, and offer personalized banking experiences aligns with its goal of reaching underserved communities and expanding embedded finance partnerships. The cloud adoption through Microsoft Azure also contributes to real-time analytics capabilities and faster innovation cycles.
Mayank Wadhwa, President of Microsoft ASEAN, expressed support for Maybank's bold vision, committing to humanising innovation, empowering people, and accelerating inclusive economic growth for the region.
[1] Maybank partners Microsoft for digital transformation journey [2] Maybank to adopt Microsoft Azure as main cloud platform [3] Maybank to roll out Microsoft 365 Copilot across all employees [4] Maybank's focus on AI to enhance customer experience
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