Transforming digital banking for Malaysia's faith-conscious
Bank Muamalat is revolutionising digital banking with ATLAS, Malaysia’s newest fully Shari'ah-compliant digital bank, powered by Mambu.
- billion in total assets managed by the bank
- months to launch first pilot (internal users)
- months post pilot launch for public availability
BANK MUAMALAT
About the customer
Established in 1999, Bank Muamalat Malaysia Berhad (Bank Muamalat), is one of Malaysia’s leading full-fledged Islamic banks, governed by the Islamic Financial Services Act 2013 (IFSA).
The bank is a key player in Malaysia’s Islamic banking sector, with assets exceeding RM 44.3 billion (approximately USD 9.3 billion) and a presence across the country through 70 branches and 254 Self Service Terminals.
As a proud member of the DRB-HICOM Berhad Group, which holds a 70% stake alongside Khazanah Nasional Berhad as the remaining shareholder, Bank Muamalat benefits from the strong backing of two prominent Malaysian institutions. This strategic ownership structure provides the stability, resources, and governance framework that enable the Bank to innovate while remaining steadfast in its mission to deliver comprehensive and Shari'ah-compliant financial solutions to its customers.
The challenge
The path to digital evolution
In a rapidly evolving banking landscape, Bank Muamalat recognised the need to cater to the growing demand for personalised digital-first, Shari'ah-compliant banking services. The bank needed a flexible and secure banking infrastructure that could integrate advanced technologies like AI and data analytics, while ensuring full compliance with Shari'ah principles and regulatory standards.
For its new-age digital offering, Bank Muamalat’s legacy core could not support their ambitious growth plans. The Malaysian bank needed a core banking infrastructure that was equipped for the speed, agility, and scalability required to compete in the digital era.
They sought a solution that would allow them to innovate rapidly, enhance customer engagement, and meet the needs of Malaysia’s tech-savvy, faith-conscious generation.
The solution
A modern cloud core meets bold vision
Bank Muamalat selected Mambu's cloud-native, core banking platform to power its new Islamic banking greenfield proposition. Building on 25 years of reliability, this strategic decision is part of the bank's five-year RISE26+ strategy, to drive innovation, operational resilience, and Shari'ah leadership.
In partnership with Backbase, and underpinned by Google Cloud, Mambu enabled Bank Muamalat to build ATLAS – Malaysia's first fully, Shari'ah-compliant digital banking. Built on a cloud-native architecture, Atlas was designed to deliver a seamless digital experience, simplifying banking for users while adhering to Islamic principles.
Working alongside Backbase and Google Cloud, the bank designed ATLAS from the ground up to be intuitive, inclusive, and deeply personal.
Beyond seamless onboarding and digital transactions, ATLAS offers faith-enriching features such as Prayer Times, Daily Doa, Zikir Counter, Islamic Calendar, Kiblat Finder, and dedicated Zakat and Qurban services.
Datuk Khairul Kamarudin, President and Chief Executive Officer of Bank Muamalat Malaysia Berhad, said: “ATLAS was built for people—to deliver not just financial solutions, but meaningful digital experiences that align with our customers’ values and daily needs. It represents the next evolution of Islamic banking: intuitive, inclusive, and deeply personal.”
He added that the platform plays a crucial role in expanding access to underserved and unbanked segments, especially among younger demographics, contributing to national financial inclusion and sustainable growth.
He added that the platform plays a crucial role in expanding access to underserved and unbanked segments, especially among younger demographics, contributing to national financial inclusion and sustainable growth.
The result
ATLAS – a distinctively Islamic, faith-centric experience
Testament to the strength of the partnership, Bank Muamalat moved from concept to soft launch within 9 months of partnering with Mambu.
After rigorous testing of its new digital banking capabilities and receiving regulatory approval, 7 months later, the digital banking platform went live, making a significant mark on Malaysia’s digital banking landscape by offering a seamless, Shari'ah-compliant experience to tech-savvy, faith-conscious customers.
ATLAS features digital onboarding, DuitNow integration, and Shari'ah-compliant financing, with promising results from its pilot, including faster product rollouts and more efficient customer onboarding. Future plans include digital debit/credit cards, personal financing, and gold investment accounts, alongside a new rewards program.
Mambu's successful implementation was crucial in providing a modern, scalable foundation, enabling Bank Muamalat’s digital ambitions and positioning the bank as a leader in Malaysia's digital Islamic banking sector.
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