Picture of man holding phone. Tagline: On the Mobility Fast Track, Bank Islam Brunei Darussalam's Digital Transformation Picture of man holding phone. Tagline: On the Mobility Fast Track, Bank Islam Brunei Darussalam's Digital Transformation

Banking

On the Mobility Fast Track: Bank Islam Brunei Darussalam's Digital Transformation

Business Challenges

While mobile banking has become a standard for most banks in the region, many still struggle to move beyond plain vanilla transactional services and, more importantly, face problems in monetization. Today, there is a clear shift towards adding new forms of mobile payments and a mobile commerce capability to embed loyalty and rewards management.

In 2011, Bank Islam Brunei Darussalam (BIBD) embarked on a transformation journey towards customer centricity and operational excellence. A core section of BIBD's Transformation Program lies in its Mobility and Digital Economy Engagement Program with the main objective to bring digital services to its customers.

Solution from Silverlake Axis

Silverlake's Digital Economy Model Suite (SDEMS) is a customer platform that allows BIBD to deliver all business services to its customers across all channels in a consistent manner. It also delivers sales and service support capabilities to customer-facing staff and delivers a consistent channel experience across both self-service and manned channels. The mobile apps were delivered through Silverlake’s Mobility Lifestyle Ecosystem Backbone (MLEB).

Benefits to the Business

BIBD's mobile application made it the first bank in the country to provide comprehensive banking services on mobile devices (smartphones and tablets) and took the small Brunei market by storm. With a target market for digital banking services estimated at 45,000 payroll customers, the app was downloaded more than 36,000 times in 2013. Its new customer-centric strategy has set BIBD apart from its Islamic competitors and puts it into an excellent position to further expand its market dominance. The mobile application has unlocked new revenue sources for the bank, adding mobile top-ups and merchant discount fees as well as increasing utilization of credit and debit cards through a better positioning of its reward and loyalty program.