SEDANIA has announced that its Fintech subsidiary SEDANIA As Salam had inked a Memorandum of Understanding (MOU) with Koperasi Co-opbank Pertama Malaysia (Co-opbank Pertama) to become its digital partner in accelerating the cooperative bank’s digital initiatives.
The MOU entails SEDANIA As Salam implementing its Digital Onboarding Platform for Co-opbank Pertama’s personal finance services such as digital current account savings account (CASA), as well as financing and mortgage services.
“This MOU represents a hugely promising development which strongly complements our ongoing goal to accelerate digital banking adoption in Malaysia, with SEDANIA As Salam being entrusted to kickstart the digitalisation process for the nation’s second largest cooperative bank. Our expertise and strong track record in developing reliable digital Islamic banking ecosystems for well-known financial institutions provide us with confidence to successfully initiate Co-opbank Pertama’s digital transformation,” SEDANIA As Salam’s Chief Executive Officer Nisa Ismail commented.
SEDANIA As Salam has powered over 80 financial institution clients with various fintech solutions including its patented API-based Digital Commodities Platform that enables seamless Straight Through Processing capabilities for Islamic Consumer Retail Products, culminating with more than RM60 billion worth of loans processed.
With two of its clients part of digital banking consortiums in Malaysia and having built strategic partnerships with global technology players, the company is poised to accelerate digital banking adoption in Malaysia and beyond.
“Digitalisation plays a very important role in today’s business environment as it enhances customer experience by providing more comprehensive and user-friendly solutions for customers. These include better marketing and sales engagements, as
well as promotions to attract new customers particularly from the younger generation, while at the same time boosting our customer retention efforts,” Co-opbank Pertama’s Chairman Datuk Baharom Embi said.
Along with SEDANIA As-Salam, we are keenly exploring various opportunities to provide more digital banking services for the convenience of our customers. Digitalisation is one of the key action plans in our bank’s long term strategic business plan, with this collaboration also expected to add value and strengthen the Co-opbank Pertama brand as a cooperative bank that provides innovative, customer-friendly banking products and services in the local market,” he added.