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Malaysia’s oldest Islamic bank, Bank Islam, launches a game-changing digital banking app, Be U, powered by Mambu

Success story

Bank Islam Malaysia Berhad (Bank Islam), Malaysia’s largest provider of Shariah-compliant financial products and services, has launched an innovative cloud-native digital banking app, Be U, on Mambu’s cloud banking platform.

Customer base

Launched 2022

Segment

Retail | Islamic banking

Mambu's role

Cloud banking platform

Established in 1983, Bank Islam is the first Islamic bank, and one of the most well-known and trusted brands in Malaysia providing access to comprehensive Shariah-compliant banking and financial services. In response to changing customer expectations, in June 2022, Bank Islam launched Be U, a next-gen, customer-centric digital banking app targeted at the digital-native, younger Malaysian consumers. Marketed as “Malaysia’s Friendliest Bank”, Be U is a ground-breaking digital banking proposition featuring a first-of-its-kind technology stack that is set to become the blueprint for all future digital banks in Malaysia.

Be U - a game changer

Mambu’s Shariah-compliant cloud banking platform provides the technological foundation of Be U
Noor Farilla Abdullah
Group Chief Strategy Officer, Bank Islam

“Be U is a game changer for us, a unique, customer-centric, tech-enabled app that will offer consumers a whole new experience when it comes to banking. Mambu’s Shariah-compliant cloud banking platform provides the technological foundation of Be U, with AWS providing cloud hosting,” Noor Farilla Abdullah, Group Chief Strategy Officer, Bank Islam.

Be U offers a savings account that allows zero balance, fund transfer capabilities and a savings feature called Nest to help users save for specific goals. Over the next 12 months, a number of exciting features will be introduced on the app, including term deposits, personal financial management, debit card, a gig marketplace, micro-financing and micro takaful.

Bank Islam focuses on broadening financial inclusivity and improving financial literacy. Hence, by utilising Be U’s engaging and user-friendly interface, customers are able to understand and better manage their finances.

Mambu’s cost-effective cloud-native banking platform offers the flexibility we need and the ability to collaborate with the broader fintech ecosystem
Noor Farilla Abdullah
Group Chief Strategy Officer, Bank Islam

“We want to turn Bank Islam into an increasingly agile organisation by adopting new ways of working, using the latest technology and leveraging data and automation to enable us to serve our customers better. Mambu’s cost-effective cloud-native banking platform offers the flexibility we need and the ability to collaborate with the broader fintech ecosystem,” Noor Farilla Abdullah, Group Chief Strategy Officer, Bank Islam.

Bank Islam and Mambu

Mambu has focused on the Islamic finance space for some time, launching a Shariah-compliant version of its platform to customers in late 2020 – the world's first cloud-native SaaS platform that complies with the tenets of Islamic banking. At the same time, Bank Islam was seeking out potential partners to support the technology foundation for its all-new digital proposition. This cultural and technological synergy convinced the bank to select Mambu as the technology foundation for the new digital offering.

Utilising AWS' cloud services, Mambu's Shariah-compliant SaaS banking platform enables Be U to leverage the power and flexibility of innovative banking architecture.

About Bank Islam

Bank Islam is Malaysia's first public listed Islamic Bank on the Main Market of Bursa Malaysia. Established in July 1983 as Malaysia's first Islamic Bank, Bank Islam has 135 branches and more than 900 self-service terminals nationwide. As a full-fledged and pure-play Islamic bank, Bank Islam provides banking and financial solutions that strictly adhere to the Shariah rules and principles and are committed to the ideals of sustainable prosperity and ESG values.  The core subsidiaries of the Bank Islam Group are pioneers in various Islamic financial services, including investment and stockbroking, namely BIMB Investment Management Berhad and BIMB Securities Sendirian Berhad.  For more information on the Group's products and services, visit www.bankislam.com.