Bank Muamalat today launched ATLAS by Bank Muamalat (ATLAS), a fully digital-only bank with Shariah-compliant features. So, what should you know about it?
What does ATLAS do?
For your information, ATLAS is developed with the technology support of Backbase, a global artificial intelligence (AI)-based banking platform provider. It operates as a Digital Bank under a license under the Islamic Financial Services Act 2013 and is regulated by Bank Negara Malaysia (BNM).
Through this platform, ATLAS offers a digital banking experience that includes a seamless registration process, DuitNow integration, Shariah-compliant financing and customised services.
“ATLAS is not just a digital bank. It is a reinterpretation of Islamic banking for the modern era, based on the values, lifestyles and aspirations of customers,” said Khairul Kamarudin, President & CEO of Bank Muamalat.
The bank said that since the pilot phase, this platform has shown encouraging results. It allows for faster product launches and simplifies the new customer registration process.
Shortly, ATLAS will also further expand its offerings by introducing digital debit and credit cards, flexible personal financing, and Shariah-compliant gold investment accounts. All of these products will be directly integrated into the platform.
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