KUCHING: CTOS Data Systems Sdn Bhd (CTOS), Malaysia’s leading credit reporting agency, has partnered with Maybank Islamic Berhad to launch the first-of-its-kind Banking-as-a-Service (BaaS) initiative.
According to a statement by CTOS, the collaboration aims to support Small and Medium-sized Enterprises (SMEs) and retail customers by providing personalised, Shariah-compliant financial solutions tailored to Malaysians’ unique needs, paired with exciting incentives.
It explained that the strategic partnership leverages the combined strengths of both organisations by integrating CTOS’ cutting-edge credit scoring and risk management tools with Maybank Islamic’s Shariah-compliant banking services.
“Together, we create a seamless, customer-centric ecosystem that empowers SMEs and retail customers to make more informed financial decisions while adhering to Shariah principles,” it said.
Furthermore, it added that through this collaboration, CTOS and Maybank Islamic have introduced complimentary offerings and exclusive benefits for SMEs.
“Additionally, retail customers can enjoy personalised Maybank Islamic products with attractive incentives, including an exciting opportunity to win a trip to Korea,” it said.
Commenting on the partnership, CTOS Digital Berhad Group Chief Executive Officer Erick Hamburger said that beyond setting an industry-first with a credit bureau partnering with Maybank Islamic, this collaboration marks a crucial step in incentivising SMEs to adopt digital financing, business digitisation services, and halal certification facilitation.
“What’s more, it provides retail customers with tailored solutions that align with the Malaysian lifestyle.
“We are pleased that this initiative expands the reach of CTOS’ financial literacy programmes, empowering Malaysians with a deeper understanding of credit and risk management,” he said.
Meanwhile, Maybank Islamic Strategic Programme Director Muhd Ramadhan Fitri Ellias said that this partnership is a key milestone in Maybank Islamic’s mission to bring innovative, Shariah-compliant financial solutions to its customers.
“By integrating CTOS’ credit risk management tools with our Islamic banking solutions, we are empowering both individual customers and SMEs to make informed financial decisions, ultimately helping them grow their businesses sustainably,” he said.
