Bank Islam Malaysia Berhad has launched a new fully cloud-native digital banking app called Be U.
The banking app aims to broaden financial inclusion in Malaysia by allowing users to bank online without the need to visit branches. It is aimed at the country’s digital-first younger generation and its UI is designed to “help users quickly understand and manage their finances”.
The “first-of-its-kind” tech stack is set to be the “cornerstone” of subsequent digital banks in Malaysia, Bank Islam says, and offers a savings account with fund transfer capabilities and a Nest feature that helps users save for specific goals.
Group CEO Mohd Muazzam Mohamed says Be U is “a product that intends to redesign and catalyse Bank Islam’s future growth by leveraging the rapidly changing fintech landscape”.
New offerings set to make their debut on the app over the next 12 months include a gig marketplace, debit card functionality, personal financial management and micro-financing services.
“We will replicate the learnings from Be U into the entire organisation, which is the bigger picture we’re looking at,” Mohd Muazzam Mohamed adds.
Be U is powered by Mambu’s digital core banking tech and is housed on the Amazon Web Services (AWS) cloud.
Bank Islam has set a target of between 350,000 and 400,000 downloads of the Be U app within the first 12 months of its release.
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