Banking giant Maybank forms alliance with Microsoft to speed up digital evolution and AI- fueled creativity
Maybank and Microsoft Partner for Digital Transformation
In a significant move towards digital transformation, Malaysian banking giant Maybank has entered into a strategic partnership with technology giant Microsoft, valued at approximately RM1.0 billion over five years.
The partnership, announced by Dato' Sri Khairussaleh Ramli, President & Group CEO of Maybank, is a significant leap forward in Maybank's digital transformation journey. It aims to accelerate Maybank's digital transformation and enhance customer experience.
Under the terms of the agreement, Maybank will adopt Microsoft Azure as one of its main cloud platforms for strategic systems, functions, and data workloads. This move is expected to provide Maybank with a state-of-the-art scalable, resilient, and secure foundation, enabling real-time data analytics, faster deployment of new services, and significant operational efficiencies.
To support this transformation, Maybank will rollout Microsoft 365 Copilot to all its 44,000 employees. Microsoft 365 Copilot is an intelligent assistant that can offload complex tasks from Maybank's employees, enabling them to innovate further and drive improvement in customer experience, efficiency, and effectiveness of operations.
The partnership also includes the exploration of the establishment of a Centre of Excellence for cloud and AI-powered innovation. This Centre of Excellence will likely focus on developing cloud and AI-powered solutions for Maybank's business needs. It will serve as a collaboration space for both companies to nurture in-house talents in cloud and AI areas.
Maybank's commitment to nurturing in-house talents in cloud and AI technologies will continue through this partnership. The bank will also enhance its existing cybersecurity posture with Microsoft's advanced security tools and industry-leading solutions, ensuring robust data protection for Maybank.
Microsoft ASEAN President, Mayank Wadhwa, expressed support for Maybank's vision of humanising innovation, empowering people, and accelerating inclusive economic growth. He sees the partnership as a powerful example for the financial industry across ASEAN in transforming services through the use of technology.
The strategic partnership between Maybank and Microsoft is intended to build a more agile, faster, and competitive environment for sustainable growth and long-term value creation. It is expected to improve customer service, ways of working, and accelerate innovations within Maybank, contributing to the broader digital transformation of the financial industry in ASEAN.
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