CTOS and Maybank Islamic launch Malaysia’s first Banking-as-a-Service initiative, offering SMEs and retail customers Shariah-compliant financial solutions.
CTOS Data Systems Sdn Bhd (CTOS), Malaysia’s leading credit reporting agency, has teamed up with Maybank Islamic Berhad to launch the country’s first-ever Banking-as-a-Service (BaaS) initiative. This groundbreaking collaboration aims to empower Small and Medium Enterprises (SMEs) and retail customers by offering personalised, Shariah-compliant financial solutions designed to meet Malaysians’ unique needs.
The partnership integrates CTOS’ advanced credit scoring and risk management tools with Maybank Islamic’s innovative banking solutions, creating a seamless ecosystem that enhances financial literacy while providing attractive incentives. This strategic move also aligns with Malaysia’s growing focus on digital financial services and Shariah-compliant banking.
Incentivising SMEs with Exclusive Offers
One of the key highlights of this collaboration is the suite of complimentary services and financial incentives aimed at SMEs. From now until 30 April 2025, Maybank Islamic’s SME customers can enjoy:
- A complimentary CTOS company report for the first 10,000 applicants, offering valuable insights into business prospects and partners.
- A two-month complimentary subscription and RM250 cashback for the CTOS Credit Manager, a solution designed to help businesses assess and monitor financial risks, ultimately reducing credit risks and enhancing repayment practices.
- Complimentary Halal facilitation services worth RM5,000 for the first 100 SME First Account-i accountholders who register via the Halal2u page on Maybank2u.
These offerings underscore the commitment of CTOS and Maybank Islamic to empowering SMEs, particularly in navigating business financing and digital transformation while adhering to Shariah principles.
Shariah-Compliant Products and Rewards
Beyond SMEs, retail customers can also take advantage of Maybank Islamic’s suite of Shariah-compliant banking products, complemented by CTOS’ financial literacy tools. Customers who purchase a CTOS Score Report during the campaign period will not only gain valuable credit insights but also stand a chance to win grand prizes, including:
- A travel voucher for two worth RM10,000
- An iPhone 16
- A Dyson Supersonic Hair Dryer
Additionally, participating Maybank Islamic products include:
- Maybank Islamic Savings Account
- Maybank Islamic Ikhwan Mastercard Gold Card-i
- Maybank Islamic Ikhwan Mastercard Platinum Card-i
- Maybank Islamic myimpact Ikhwan Mastercard Platinum Credit Card-i
- Maybank Islamic World Elite Mastercard Ikhwan
Impact of the Collaboration
Commenting on this milestone, Erick Hamburger, Group CEO of CTOS Digital Berhad, emphasised the significance of this partnership, “Beyond setting an industry-first for a credit bureau to partner with Maybank Islamic Berhad, this collaboration marks a crucial first step to incentivising SMEs in their journey of adopting digital financing, business digitisation services, and halal certificate facilitation. What’s more, it provides retail customers with tailored solutions that suit the Malaysian lifestyle. We are pleased that this initiative expands the breadth of CTOS’ financial literacy programs, empowering Malaysians with a deeper understanding of credit and risk management.”
Meanwhile, Dr. Muhd Ramadhan Fitri Bin Ellias, Director, Strategic Programme of Maybank Islamic, highlighted the collaboration’s potential in shaping a more informed and financially empowered community: “This partnership with CTOS is a key milestone in our mission to bring innovative, Shariah-compliant financial solutions to our 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.”
A More Inclusive Financial Future
This collaboration between CTOS and Maybank Islamic represents a significant step toward a more inclusive and financially literate society. By combining banking services with cutting-edge credit management tools, the initiative aims to equip Malaysians with the resources they need to make smarter financial decisions.
SMEs looking to explore these exclusive offers can visit CTOS’ official website for more information and to submit their applications.
Source: Citizens Journal
