In addition, Bank Islam is inking a Memorandum of Understanding with a local fintech player, Pod, to develop new products.
The Centre of Digital Experience (CDX) aims at setting up a 100% digital bank which should allow fintechs, digital marketplaces, and other partners to plug in directly. The bank says that its CDX solution will launch in the second quarter of 2021.
The engagement of Mambu allows the bank to configure Shariah-compliant banking products. Meantime, Experian provides the eKYC solution so customers can open a bank account without visiting a bank branch. In addition, CDX is developing an alternative credit scoring model in collaboration with Pod.
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