Bank Muamalat taps Backbase for AI-driven Islamic banking

By Puja Sharma

Sharia-compliant faith-aligned digital banking transformation in Malaysia is enabled by Backbase’s AI-powered Banking platform

Backbase, an AI-powered banking technology firm, has announced that Bank Muamalat has launched ATLAS by Bank Muamalat (ATLAS), a Malaysia-based Islamic digital-only bank centred on faith and lifestyle alignment.

This milestone represents a transformative leap in Bank Muamalat’s journey to redefine Islamic banking, positioning it as a pioneer in Malaysia’s rapidly expanding digital banking landscape. By harnessing Backbase’s AI-powered Banking Platform, ATLAS delivers a faith-aligned digital experience with seamless onboarding, DuitNow integration, Shariah-compliant financing, and personalised servicing — setting a new benchmark for Islamic financial services in the region.

Khairul Kamarudin, President & CEO of Bank Muamalat, said, “It is a bold reimagination of Islamic finance for the modern era, built around the values, lifestyles, and aspirations of our customers.” It reflects our commitment to leading the next era of Islamic banking that is digital, inclusive, and purpose-driven. Our collaboration with Backbase has played a key role in enabling us to deliver an experience that is seamless, secure, and rooted in faith — one that redefines how banking is lived in today’s digital world.

In the coming months, ATLAS will expand its product offerings to include digital debit and credit cards, flexible personal financing, and a Shariah-compliant gold investment account. These new products will be seamlessly integrated into the existing platform, further strengthening ATLAS’s position in the Islamic digital banking landscape.

To enhance customer loyalty, ATLAS introduces a unique rewards program that connects users to exclusive lifestyle offers through curated partners, including well-known brands and services across diverse industries.

Prior to launching ATLAS, Bank Muamalat faced the common industry challenge of fragmented legacy infrastructure. The Backbase AI-powered Banking Platform provided a unified and modular foundation, enabling Bank Muamalat to accelerate its digital roadmap with agility and control.

Riddhi Dutta, Regional Vice President for Asia at Backbase, said, “We’re proud to support Bank Muamalat’s bold vision with our AI-powered Banking Platform. ATLAS is a shining example of how composable banking architecture can deliver tailored, lifestyle-aligned experiences while scaling innovation rapidly across markets. It also reinforces our growing presence in the Islamic banking sector and exemplifies how Backbase serves as a strategic growth platform for banks seeking to modernise and expand their digital footprint.”