Maybank inks RM1bn deal with Microsoft

Maybank has inked a five-year deal with Microsoft, valued at approximately RM1bn (US$236.4m), in a bid to drive digital and artificial intelligence (AI) innovation across its operations.

The landmark deal will see Malaysia’s leading financial group adopt Microsoft Azure as one of its main cloud platforms for some of its most strategic systems, functions and data workloads, paving the way for enhanced real-time data analytics and faster deployment of new services.

In a major push to boost productivity and innovation, Maybank will also roll out Microsoft 365 Copilot to its 44,000 employees, embedding an intelligent assistant into their daily workflows to streamline complex tasks.

In addition, it will use Microsoft’s advanced security tools to bolster its cyber defences and explore the establishment of a joint centre of excellence to co-develop cloud and AI-powered innovations and nurture in-house digital expertise.

Khairussaleh Ramli, president and group CEO of Maybank, said the partnership with Microsoft is a leap forward in the bank’s digital transformation journey, going beyond its M25+ initiative.

“It’s not just about technology; it’s about thinking ahead on how we can better serve our customers, improve our ways of working, and accelerate innovation,” he said. “With the right technology strengthening the core parts of our business, we are building a truly agile, faster and more competitive environment for sustainable growth and long-term value creation for all our stakeholders and customers.”

Maybank’s M25+ initiative was introduced in 2022 to drive the bank’s growth by focusing on five key pillars: customer centricity, digitisation, strengthening its presence beyond Malaysia, sustainability, and global leadership in Islamic banking.

Under the initiative, Maybank had already committed between RM3.5bn and RM4.5bn for technological enhancement and other strategic areas. For example, it has been leveraging technology to enhance customer experience and operational efficiency, having launched a fully digital know your customer (KYC) process and the popular MAE (Maybank Anytime, Everyone) e-wallet and mobile banking application.

More recent developments include a money lock feature to combat fraud and expanded cross-border quick response (QR) payment integrations. It has also been using AI and machine learning to detect fraud and automate processes such as credit applications.

“Malaysia stands at a pivotal moment in its digital journey, and Maybank is leading by example,” said Mayank Wadhwa, president of Microsoft ASEAN. “By embedding intelligence into the core of financial services, Maybank is transforming how it serves its customers while setting a powerful example for the industry across ASEAN.”

In May 2024, Microsoft announced its single largest investment in its 32-year history in Malaysia: a $2.2bn commitment over the next four years to bolster the country’s cloud and AI infrastructure. This builds on earlier plans for Microsoft’s first Azure cloud region in Malaysia, which went live in May 2025, enhancing data residency and reducing latency for local businesses.

Through its AI for Malaysia’s Future initiative, Microsoft also hopes to provide AI skills to 800,000 Malaysians by the end of 2025. This programme, along with the establishment of a National AI Centre of Excellence in partnership with the government, is designed to cultivate an AI-ready workforce and empower the nation’s developer community.