Malaysian financial services group Maybank has partnered with Microsoft to upgrade its cloud and AI capabilities, signing a partnership agreement with the US tech giant valued at approximately RM 1 billion (around $236.6 million) over five years.
The bank says it will implement Microsoft Azure as one of its main cloud platforms for “some of its most strategic systems, functions, and data workloads”.
The addition of Microsoft Azure is expected to provide “real-time data analytics, faster deployment of new services, and significant operational efficiencies”, according to Maybank.
Also included in the partnership deal is Microsoft 365 Copilot, which Maybank says will be rolled out to all 44,000 employees to provide them with “expansive AI-powered capabilities”. The bank adds that it will also utilise Microsoft’s security tools to “enhance its existing cybersecurity posture” with an emphasis on data protection.
Maybank says the pair will also work to establish a Centre of Excellence for both companies to collaborate on developing new cloud and AI-powered services and to nurture “in-house talents in these areas”.
Maybank Islamic Bhd, the Islamic banking arm of the Maybank Group to deliver a suite of new sharia-compliant digital products hosted on Amazon Web Services‘ (AWS) cloud infrastructure.
