Pioneering Innovations: Digital Transformation in Malaysia (Part 2: Allianz Partners Malaysia, Maybank, KWAP, Axiata)
In today's rapidly evolving digital landscape, Malaysian corporations are leveraging technology to drive unprecedented advancements in customer service, operational efficiency, and security. From Allianz Partners Malaysia 's introduction of a fast track claims system to Maybank 's Cross-Border QR Pay, and KWAP Malaysia 's forward-thinking retirement services, these initiatives mark significant milestones in the digital transformation journey. Not forgetting Axiata ’s very own Helios, a cybersecurity tool. Each project showcases a commitment to harnessing the power of digital tools to enhance user experience, streamline processes, and fortify security, reflecting a broader trend of integrating cutting-edge technology across various sectors.
The introduction of a fast track claims system marked a paradigm shift in Allianz Partners Malaysia’s approach to customer service. By digitising the tracking mechanism and closely monitoring SLAs, they have significantly reduced turnaround times and eliminated the need for manual tracking via email or hardcopy documents. This not only streamlines the entire claims process but also minimises the risk of errors and oversight, leading to higher customer satisfaction levels.
I think that's where the real crux of the issue lies, right. (One of the challenges) It's about getting our people to do exactly what we talked about earlier this morning. We're not replacing people with AI. But the people who augment AI will come back and replace you, right? So getting people to understand that you need to rescale and upskill is a big, big challenge in driving transformation for us as well. So of course, thankfully, I think we've got a very good top down culture, pushing innovation, simply pushing new ideas, you know, fail fast and cheap. You know, do things in a more agile way and see where that plays.
- Winnie Wong , COO, Allianz Partners Malaysia & Singapore
The introduction of Maybank's Cross-Border QR Pay marked a significant milestone in the realm of digital banking. This initiative has revolutionised cashless payments for travellers to Singapore, Thailand, Indonesia, and China. By enabling seamless, cheaper, and faster transactions, this initiative eliminates the need for currency conversion and cash handling, benefiting over 8 million MAE app users and more than 700,000 QR Pay Malaysian merchants.
Maybank is in a strong position to accelerate digitalisation having embarked on the Group’s corporate strategy, M25+, with a greater focus on delivering end-to-end customer lifestyle and business needs by embedding banking and beyond banking services seamlessly into our customers’ journeys through various ecosystem offerings.
- Jeevan Victor , Head, Digital Strategy & Business Enablement, CFS-Virtual Banking & Payments, Maybank
Kumpulan Wang Persaraan (KWAP)'s proactive digital transformation has revolutionised its Retirement Services both internally and externally. For customers, the adoption of digital interactions and biometric technology ensured smoother yet secure transactions, enhancing the overall experience. Simultaneously, comprehensive tracking and monitoring performance systems propelled its operational efficiency to new heights.
As part of our future roadmap, KWAP is gearing up to redefine its customer experience through advanced technology integration. Among its ambitious plans are the introduction of electronic Know Your Customer (eKYC) processes and the launch of an AI-assisted e-service platform. These initiatives are pivotal elements of KWAP's broader digital transformation strategy. eKYC aims to streamline customer verification, ensuring seamless transactions, while the AI-powered e-service platform promises personalised and efficient solutions. These innovations signify KWAP's commitment to elevating customer satisfaction by embracing digital innovation
- Nur Wasyahlan Zakaria , Vice President, Pension Benefits Processing, KWAP
With traditional cybersecurity tools often facing limitations in providing a holistic view of an organisation's vulnerabilities, Helios, an in-built tool by Axiata Group Berhad, fills this gap by adopting an offensive security mindset. It goes beyond merely offering intelligence about potential threats; instead, it simulates an attacker's perspective, identifying possible entry points and navigation paths that could be exploited. This distinctive approach provides organisations with invaluable insights into their security posture, empowering them to proactively address vulnerabilities before they can be exploited.
Scalability is at the forefront of this initiative, focusing on developing additional modules and refining existing ones for greater speed and accuracy. Once scalability is achieved and the modules are fully operational, the introduction of an AI model is planned. This model will analyse the accumulated data to identify the most efficient attack paths and offer real-time guidance.
- Suresh Sankaran Srinivasan , Group Head - Cyber Security & Data Privacy, Axiata Group
The digital transformation efforts by Allianz Partners Malaysia, Maybank, KWAP, and Axiata illustrate a significant shift towards more efficient, secure, and customer-centric operations. Allianz's fast-track claims system, Maybank's Cross-Border QR Pay, KWAP's eKYC and AI-assisted platforms, and Axiata's offensive cybersecurity tool Helios highlight the diverse ways in which digital innovations are reshaping the business landscape. These initiatives underscore the importance of continuous technological advancements and upskilling in maintaining competitive edge and driving future growth.
We will be delving deeper into digital transformation initiatives, as well as cybersecurity for Malaysia’s Digital Economy at the upcoming AIBP Conference & Exhibition Malaysia this coming 4 & 5 September in KL - be part of the conversation here or drop me a note!
