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Client
AEON Bank
Firm
PwC South East Asia Consulting
Industry
Financial Services
Powered by
Salesforce CRM
A subsidiary of Japan-based AEON Financial Service Co., Ltd. and AEON Credit Service (M) Berhad, AEON Bank (M) Berhad (formerly known as ACS Digital Berhad) successfully established an Islamic Digital Bank on 8 January 2024 to deliver innovative and inclusive financial services to retail customers in Malaysia.
Situation Bringing value to client servicing
The collaboration between PwC and AEON Bank started at a strategic level. The Customer Relationship Management (CRM) implementation exercise was one key aspect of a holistic business strategy. The primary goal for AEON Bank was to introduce a landmark initiative to further innovate and expand the Malaysian banking landscape. From an execution perspective, while the customer service and CRM platform were one of the levers, an entire tech architecture was conceived; of which different streams of work were carved out – one of which included the CRM implementation on Salesforce.
Before entering the market, the bank knew a comprehensive solution would allow them to comply with central bank guidelines for successful operational readiness while simultaneously driving financial inclusivity. Led by this vision, AEON Bank worked with PwC to design the digital bank’s systems to serve customers.
“We needed support to implement our Customer Relationship Management (CRM) platform, as this was an initiative from the ground up,” said Ajith Jayaram, the Chief Strategy Officer of AEON Bank. “Given that this was a totally new area for us, we leveraged on PwC’s experience and technical know-how in the tech stack landscape.”
Furthermore, as AEON Bank did not have existing infrastructure and processes related to customer service and support, PwC had the benefit of starting with a clean state.
AEON Bank chose to work with PwC to envision the customer journey from the ground up and build the business and technological framework for enabling it, keeping in mind the various priorities of different customer segments. The goal was to design a CRM system that would empower the bank to cater to the unique needs of its clients, helping earn their trust and loyalty in the long term by providing them with the best possible experience.
Solution Building a wealth of solutions from the ground up
With client care at front and centre of its service ethos, AEON Bank needed a comprehensive solution to make the customer journey more engaging and fulfilling. Moreover, with AEON Bank’s desire to engage in leading solutions, CRM in Salesforce was adopted.
With its trademark BXT method, PwC deployed the bank’s client-centric vision on three critical fronts: business, experience and technology. Marrying PwC’s deep capabilities in digital banking and cloud technologies with the bank’s innovative thrust, the team mapped the client experience to make it fast, responsive and personalised.
Business Investing in a solid foundation
Launching an Islamic digital bank in Malaysia is no simple feat. AEON Bank understood that it had to deftly navigate the Malaysian banking landscape and its regulations to succeed in its market entry and earn the trust of underserved and unserved customers not reached by traditional banks. This section of the population needed access to financial services without having to enter a physical bank as well as progressive retail banking solutions beyond conventional channels.
With its extensive track record in the Malaysian banking space, PwC helped AEON Bank vault over regulatory hurdles and comply fully with the regulatory requirement. This allowed the bank to focus on preparing to deliver its services, including an emphasis on top-quality tech stack and enhanced operational efficiency in handling customer interactions from the outset – characteristics that set the bank apart in a crowded market.
Experience Banking on the right approach to transformation
Providing progressive and client-attuned financial services is one thing. Creating the business environment that enables both is another. Recognising this, PwC and AEON Bank worked to embed a culture of exceptional service across the organisation, from tech teams working the backend to front-facing customer support specialists. To do this, PwC paid close attention to different customer needs to map out the service experience journey.
At the same time, PwC and AEON Bank’s adoption of a world-class platform such as Salesforce clearly depicted AEON Bank’s strategic vision, with an eye for tailored and responsive customer needs management that transcended the limits of traditional banking. By having a firm grasp of the bank’s business needs, PwC found the change management approach that helped the bank put customers first and bring finance closer to all.
Technology Delivering where it matters
Backed by technical acumen, PwC specialists joined forces with AEON Bank’s specialist teams to weave Salesforce Service Cloud into the bank’s operations, positioning it as the core system for running customer support activities. Working together, PwC and AEON Bank conceptualised and implemented the solution in a record four to five months, significantly quicker than the industry average for rolling out a customer service management system.
“PwC played a pivotal role in introducing us to interested partners and various technology partners with world-class solutions to design and build the products and services we envisioned for the bank together with the Financial Projections to ensure the bank would be successful.”
Ajith Jayaram,Chief Strategy Officer of AEON BankThis allowed the digital bank to fulfil its customer-oriented mission through greater operational efficiency and lightning-quick, tailored service, allowing it to create exceptional value for their customers and cement sound relationships with them.
Results Deep collaboration towards rewarding outcomes
Together with AEON Bank, PwC orchestrated and completed a highly complex project that demanded creativity, collaboration and agility from both sides. Although this was just one part of a broader business transformation strategy, it was critical that it was done well – to set the tone for other activities that are a part of the holistic strategy.
“There is a plethora of moving parts in the setting up of a digital bank, so it’s critical to ensure all key pieces of the jigsaw fit together,” said Jayaram. “This demanded significant agility and adaptability to collaborate with different stakeholders, and PwC did a great job in facilitating this mammoth effort.”
The result has been rich in positive outcomes: by partnering with PwC, AEON Bank gained a solid foundation to operate a new bank in Malaysia — within timelines, within budget and in full compliance with local regulations. Customer service performance and productivity is expected to receive a decisive boost, in line with AEON Bank’s larger goal of client prioritisation.
To ensure financial inclusion, AEON Bank decided to give users a seamless user experience and drive accessibility to banking wherever they are. Moreover, AEON Bank is Malaysia’s first Islamic Digital Bank – with all its products and services being Shariah-compliant. Nonetheless, its services are available to all Malaysians, which will undoubtedly bring holistic value to all users. As a new player, AEON Bank wants to be known as a tech enabler to enrich the banking landscape and contribute to the existing ecosystem.
Users will benefit tangibly too, as reporting and analytical tools will give AEON Bank’s customers the means to make pivotal financial and business decisions. With a robust customer management system in place, the Bank is hoping to make banking simpler for its clients and playing a strong role in extending financial services to the underserved in Malaysia.
As a digital bank without physical branches, it is imperative that AEON Bank instils a strong people-first culture that can diligently serve the diverse needs of its clients. Digitalisation and technology must be complemented with human capital, especially as the Bank aims to reach banking to everyday Malaysians. This was a mandate carried out by AEON Bank together with PwC.
“PwC is thrilled to have collaborated with AEON Bank to help realise its digital-banking vision. The relentless focus on an enhanced customer experience set the tone of the engagement right from the get go, and we are confident that AEON Bank will add tremendous value for an ever-growing customer base and enrich the Malaysian digital-banking landscape.”
Tristan Hockley,Salesforce Practice Leader, South East Asia Consulting, PwC SingaporeLet us be part of your success story: Reach out to start a conversation
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