Azmi & Associates proudly represented Bank Muamalat in a pivotal move towards revolutionizing its banking services.

The project involves a holistic cloud transformation encompassing the adoption of solutions from Mambu Asia Pacific Pte. Ltd. (Mambu) and Backbase Asia-Pacific Pte. Ltd. (Backbase). As recently announced by Bank Muamalat through its press release, this endeavor (together with its multi-year collaboration with Google Cloud) shows Bank Muamalat’s commitment to delivering cutting-edge digital banking solutions aligned with Shariah principles.

As part of this project, our team’s expertise extended to the meticulous review and negotiation of legal documentation to be executed:

(a) between Bank Muamalat and Backbase, aimed at significantly enhancing Bank Muamalat’s digital banking capabilities through the implementation of Backbase’s front-end channels and microservices; and

(b) between Bank Muamalat and Mambu, which encompasses a comprehensive overhaul of Bank Muamalat’s banking systems to enhance digital capabilities, customer experience and operational efficiency through the integration of Mambu’s back-end platform.

Our Multimedia, Technology, and Intellectual Property (MTIP) practice group, led by Khairul Fazli Abdul Kadir (Partner), supported by Azarith Sofia Aziz (Senior Associate) and Khairunnisa Khairol Anwar (Associate) played an instrumental role throughout the phases of the deal.

We continue to ensure our clients are well-equipped to thrive in a digitally driven future.

Read more:

• https://www.muamalat.com.my/publications/press-releases/
• https://fintechnews.my/43583/digital-transformation/google-cloud-mambu-backbase-to-power-bank-muamalats-islamic-banking-overhaul/

Corporate Communications
Azmi & Associates
18 March 2024