Enabling Malaysian Banks DIGITAL BANKING Towards Open Banking

Open Banking - A Better Experience for Customers

Open Banking is the new wave of digital innovation for the financial services industry. This innovation enables meaningful collaboration between banks and businesses to deliver better financial products and experience to customers. It combines the strength of the banking infrastructure and the reach of various consumer channels.

Mesiniaga's Digital Banking approach is to integrate and upgrade the online financial services sector. We help banks keep-up with dynamic customer demands and consumption patterns.

Features

The banking model today is primarily based on channels that are within a bank's environment. Our Open Banking solution creates unlimited channels for banks to extend their services with third party applications, without compromising on security.

Quickly develop or tweak financial products to meet changing market needs.
Coordinate seamlessly with the public sector to execute government initiatives such as disbursing financial aids and other benefits.
Expedite digital capabilities to collaborate with fintechs instead of competing with them.
Collaborate easier with acquired fintechs, to produce effective products and go-to-market faster.
Recognise and act upon changing customer behaviours to offer services within affiliated apps.
Engage customers with better experience when they can access your products and services seamlessly on their favourite apps.
Get access to data from 3rd party collaboration apps and provide personalised products and services to customers.

Our Digital Banking Solutions

Open Platform

Digital Financial Services Platform

P2P Loan System

Automated Approval System

Internet Unit Trust Sales Platform

Unit Trust Management System

Integrated Payment System

Digital Banking Platform

Consumer Financial Accounting System

Unified Credit Information Platform

Consumer Financial Accounting System

Supply Chain Financial Accounting System

Challenges faced with Open Banking

Customers today are more informed, demanding and dynamic in the way they use financial products. These are some of the challenges:

  1. Unable to create financial products quickly to address customer needs.
  2. Have difficulty integrating with legacy core banking systems.
  3. Concerned with competing with the agility and robustness of fintechs.
  4. Not able to support innovative solutions to provide convenience and new services.
  5. Have problems appealing to the HENRYs (High Earning, Not Rich Yet).
  6. Threatened by the rise of e-wallets.

Our Digital Banking Approach

Fast and Flexible Go-to-market

Easily design, package and market the right product to the right audience at the right time.

Agile Development

Self sufficient software development with Integrated Development Environment (IDE) platform.

Open & Increased Collaboration

Enable innovative collaboration with third parties using open API.

Low Total Cost of Ownership

Cost efficient in the long run with the x86 based processing systems, open source applications and agnostic database .

High System Performance and Scalability

Scale up services based on requirements with cloud native support, microservice architecture, and distributed database design.

Expand market reach

Enable banking services to be present in the apps prominent to the growing market segments.

Flexible and Accommodating Infrastructure

With and open technology environment, make it easy to collaborate instead of competing with fintechs.

Our Competitive Advantages

1.

Able to adopt digital banking without affecting existing core banking system.

3.

A robust built-in product factory that will enable banks to quickly roll-out new products and services according to the latest trends.

2.

Revolutionise core banking without disrupting banking service.

4.

Integration into external platforms for a wider range of marketing collaborations with merchants through open API.

5.

Access to talents and a full fledge talent development program that ensures your digital banking initiative is well supported.

Find out more on Mesiniaga's Digital Banking