IBPO Group Berhad (“IBPO”), a leading fusion financial company, and TIME dotCom Berhad (“Time”), one of Malaysia’s leading telecommunications providers, have partnered to bolster the fusion financial landscape with robust data security measures through the signing of a Memorandum of Understanding (“MoU”).

The collaboration, with a focus on strengthening and future-proofing data security for Fusion Finance, signifies a strategic integration of hosting IBPO’s innovative Fusion Financial System and ANIKA, the first AI-powered virtual financial consultant chatbot in Malaysia, on Time’s secured network environment. The ANIKA chatbot enables customers to easily check their bank loan eligibility, potential monthly savings, and financial health scores, as well as receive personalised financial solutions based on their individual needs.

The MoU signing ceremony held last week was officiated by Feruz Satar, Head of Contact Centre at IBPO, and Tan Hooi Siang, Head of Enterprise Sector at Time. This momentous event was witnessed by Samuel Quek, Advisor at IBPO, and Lester Pang, Head of Retail & Media at Time. 

Among the initiatives and collaborations that will be covered are:- 

Established Security Compliance: 

This collaboration allows IBPO’s services to be facilitated in a secured environment with Time’s network that is triple MEF-certified and has passed a Network Resilience and Risk Assessment Audit for the Malaysian banking and financial sector based on Bank Negara Malaysia’s Risk Management in Technology (“RMiT”) policy. 

Secure and Scalable Cloud Hosting 

To ensure a stable and scalable hosting environment specifically for IBPO’s AI-powered technology system and tools with Time’s digital expertise in cloud hosting and cybersecurity services.

Broadband Service Excellence 

Delivering top-tier internet connectivity services for seamless operations for IBPO.

Robust Data Security Measures

Both IBPO and Time are committed to upholding the highest standards of data security, along with implementing strict protocols to safeguard customers’ information, privacy and financial data.

“Now, with TIME dotCom as our partner, we can implement stricter and more stringent data security measures within our fusion finance business. This includes adding an extra layer of protection to our Fusion Financial System and our recent development of ANIKA, the first AI-powered virtual financial consultant chatbot in Malaysia,” said Feruz Satar, Head of Contact Centre of IBPO. 

Meanwhile, Andy Lim, the Founder and Group Managing Director of IBPO emphasised, “Enhancing security measures is always our top priority, especially since we are in the financial-technology sector where we deal with highly sensitive information, including personal and financial data. At IBPO, we strive to do everything we can to ensure this data is protected from identity theft, fraud, and other financial risks.”

"Joining forces with IBPO marks a significant stride towards fortifying the fusion finance landscape. At Time, our focus is on building a secure foundation for innovation, leveraging our expertise in cloud hosting and cybersecurity. This partnership underscores our dedication to delivering robust and secure solutions tailored to IBPO's pioneering technologies," said Tan Hooi Siang, Head of Enterprise Sector at Time.

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