SWISS fintech 100 company CREALOGIX and Sedania As Salam Capital Sdn Bhd (SASC) have pledged to continue bolstering digital adoptions for Malaysian financial institutions.
During a demonstration highlighting the need to reimagine digital lending and the client engagement solution at the recent My Fintech Week 2022, CREALOGIX managing director for Asia Pacific Karsten Kemna showcased some of the latest customer-focused digital solutions.
These included a digital savings solution for children, a loyalty platform, the NCB Islamic Banking Portal and more details on how digital communications could improve engagement with digital wealth tools.
A more detailed look at the CREALOGIX Conversational AI solution was also presented, alongside some digital solutions set to bring much-needed digitalisation to SME banking.
Kemna also expanded on the urgent need for digitalisation in SME banking with reference to some exclusive research from CREALOGIX that showed a global trend of dissatisfaction amongst SMEs regarding the current digital offering of their bank.
The accompanying SME Banking Report from CREALOGIX further indicated that SMEs expect to increase the digital touchpoints with their banks and also require improvements in the current offering to include open banking and multi-banking services.
These capabilities can be delivered with the support of CREALOGIX and can give banks a competitive advantage in the SME banking market.
Meanwhile, SASC chief executive officer Nisa Ismail said that the proliferation of digital banking is necessary this year especially with the announcement of Bank Negara Malaysia’s digital licenses being just around the corner.
According to Nisa, the strategic alliance between the two companies benefits Islamic banking capabilities, as Sedania possesses API capabilities while CREALOGIX delivers a digital banking platform that enables swift integration in delivering their client’s needs.
“In line with My Fintech Week 2022’s theme to advance digitalisation for recovery, sustainability, and inclusion, our existing ecosystem and programmes are already supporting the objectives of digital banking deliverables through our own initiatives and the CREALOGIX partnership,” she remarked.
“Moreover, we are confident that with our Islamic Fintech technical know-how and project management capabilities, we are ready to support our financial service institutions partners in Malaysia.”
SASC has actively focused on contributing to the development of the digital capabilities of financial institutions in Malaysia through its services.
Last year, the Islamic fintech company launched a few solutions to strengthen its endorsement in financial institutions’ recovery through digital banking.
For example, SASC’s patented Shariah-compliant digital commodity trading platform, As-Sidq Tawarruq, facilitates secure, real-time, and anytime brokerage of digital commodities for financial institutions’ Tawarruq (commodity murabahah) requirements.
SASC’s As-Sidq Financial Marketplace is a fully digital financial marketplace that serves as a consumer acquisition and content platform and helps consumers to easily access Islamic financial products.
The joint go-to-market initiatives by CREALOGIX and SASC will equip the duo to achieve true hyper-scale, create a competitive advantage, and take their products to the ever-evolving Malaysian market. – Feb 15, 2022
