Maybank Islamic and TM Forge Partnership to Deliver First Islamic Banking as a Service Solution Powered by 5G

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Maybank Islamic and TM Forge Partnership to Deliver First Islamic Banking as a Service Solution Powered by 5G

Collaboration

15 Feb 2024 •

For Immediate Release

KUALA LUMPUR, 15 FEBRUARY 2024: Maybank Islamic Berhad and TM, the nation’s leaders in Islamic banking and telecommunications, have forged a partnership to deliver the country’s first Islamic Banking as a Service (BaaS) solution powered by 5G. Designed for consumers and micro, small and medium enterprises (MSMEs), this collaboration combines the best of Maybank Islamic’s diverse financial services and TM’s recognised Uni5G Postpaid Biz mobile packages, creating seamless access and experiences for today’s digital customers.

With local entrepreneurs and MSMEs to gain the most, Maybank Islamic and Unifi Business, TM’s digital business solutions arm, today launched their inaugural ‘Go Niaga’, a mobile business banking bundle to help businesses manage finances, improve incomes and offer digital payment options powered by secure 5G connectivity and networks. The bundle will address current market gaps among this segment, and enable businesses to better participate in e-Commerce and expand their customer reach.

Dato’ Mohamed Rafique Merican, Maybank Islamic’s CEO, said, “This partnership between Malaysia's largest telecommunications company and the country's leading Islamic banking institution opens up unique opportunities for us in delivering Islamic banking services to customers. This partnership is a significant step forward in financial inclusion. By embedding Maybank Islamic’s BaaS solutions within Unifi Business’ platforms, previously unbanked or underbanked individuals and businesses will gain access to Maybank’s essential financial services and 5G mobile connectivity through TM’s cutting-edge technologies.”

“While the technology originates from the BaaS concept, what makes it unique is its adherence to Islamic principles, making it the pioneering example of its kind in Malaysia. It combines modern technology with the ethical requirements of Islamic finance, providing innovative and faith-based financial services,” he said.

Shanti Jusnita Johari, Chief Commercial Officer for Consumer Strategy & Business at Unifi, said, “MSMEs are a key growth engine for the nation’s economy. At present, this segment accounts for nearly 38% of Malaysia’s GDP, yet their potential is often dimmed by limited access to digital tools and financial services. This is even more apparent among underserved segments, micro and small businesses who face the most challenges in accessing financial services and digital innovations that are necessary to elevate their lives and livelihoods.

“As a trusted partner to more than 400,000 MSMEs across the nation, we believe this partnership is a timely intervention to effectively address these challenges and help local businesses seize the opportunities of the digital economy. This partnership is the next milestone in our vision to become a digital powerhouse by 2030 and our mission to power a Digital Malaysia, improving businesses and communities through technology, and paving the way for a digitally inclusive nation,” Shanti shared.

Highlights of Maybank Islamic and Unifi Business’ Go Niaga offering

As the first bundle from Maybank Islamic and Unifi Business’ joint collaboration, the Go Niaga mobile business banking bundle aims to address the essential banking needs of local entrepreneurs and MSMEs.

To help local businesses streamline their operations, the Go Niaga bundle offers:

A lower minimum deposit of only RM 100 for customers to open an SME First Account-i – allowing them to clearly segregate their personal and business accounts that will help improve their long term credit rating.

Payment acceptance facilities through Maybank Islamic’s QRPay Biz, and Tap2Phone – enabling cloud POS via mobile devices to facilitate digital / card payments.

Credit Facilities including Maybank Islamic’s SME Digital Financing: Aspirasi Wanita Programme – providing more entrepreneurs access to funds that could help them stabilise and expand their business.

Uni5G Postpaid Biz 39, Uni5G Postpaid Biz 55 and Uni5G Postpaid Biz 89 mobile plans bundled with free 5G mobile devices – ensuring secure access to financial services anywhere, anytime and bringing 5G capabilities to more communities.

Cash rebates for Unifi Mobile bills when customers sign up and activate Maybank Tap2Phone merchant payment facility bundled with Uni5G Postpaid Biz packages.

This initial offering will be made available from 21 February until 29 May 2024. Customers are welcome to visit selected Unifi Stores on Tuesdays, selected Maybank branches on Wednesdays and selected Pusat Ekonomi Digital (PEDi) nationwide on event days, to find out how they can benefit from these offerings.

For more info, please visit https://maybank.my/goniaga or https://biz.unifi.com.my/promotions/go-niaga

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About Maybank Islamic Berhad

Maybank Islamic is ASEAN’s leading Islamic bank and the largest Islamic commercial bank in Malaysia, with a market share of 29.32% of Islamic financing as well as deposit and investment accounts at 26.04% as of September 30, 2023. In the same period, Maybank Islamic’s total assets stood at RM319.3billion, a growth of 5.0% year-on-year.

About Unifi

Unifi is Malaysia’s Fixed Mobile Convergence Champion, delivering connectivity and digital services to almost 4 million home and mobile customers, and 400,000 micro, small and medium enterprises (MSME).

As the only true quad-play service provider in the country, Unifi offers high-speed broadband up to 2GB, fixed voice solutions, and 4G & 5G mobile services with nationwide coverage. Leading today’s Digital Lifestyle Convergence, Unifi also boasts one of the largest consolidated platforms for world class content, premium TV channels, and cloud gaming.

Beyond lifestyle service, Unifi empowers MSME through robust digital business solutions tailored to businesses of all sizes. This includes its e-Commerce Hub that automates online and offline operations, Digital Marketing Solution to grow brand and online presence, as well as plug-and-play cloud and cybersecurity solutions to improve productivity and security.

Committed to delivering exceptional value and outstanding customer experiences to all segments of society, Unifi continues to innovate its offerings and value-added services to power an inclusive Digital Malaysia.

To find out more about Unifi, visit www.unifi.com.my

Jointly issued by:

Strategic Communications, Maybank Islamic Berhad

and

Strategic Communications, TM

For inquiries, please call:

Maybank Islamic Berhad

Roziana Hamsawi

Head, Strategic Communications, Maybank Islamic Berhad

T: +603 2297 2211 | M: +6012 324 6502 | E: roziana.h@maybank.com

Fadhli Asri

AVP, Strategic Communications, Maybank Islamic Berhad