Business Daily Media

Men's Weekly

.

CIMB Bank recognised for Best Financial Artificial Intelligence Project at The Asset Triple A Digital Awards 2022

KUALA LUMPUR, MALAYSIA - Media OutReach - 9 June 2022 - CIMB Bank Berhad ("CIMB Bank" or "CIMB" ) has been awarded the Best Financial Artificial Intelligence Project in Malaysia at The Asset Triple A Digital Awards 2022 for its successful implementation of an automated artificial intelligence ("AI") platform developed by DataRobot, a leader in AI Cloud solutions.



The AI platform enabled CIMB to develop machine learning credit models for its retail portfolio, which strengthened the Bank's credit risk modelling and retail underwriting capabilities across unsecured loan products. This led to improved quality of loan screening, resulting in reduction of credit loss.

The fully automated AI platform leveraged CIMB's wealth of traditional and alternative data to develop machine learning credit models for the bank's retail portfolio. With the sharper models, the bank is able to reduce credit loss by improving the default probability estimation for retail loan applications.

The collaboration commenced work in mid-2020 to structure the use case and connect historical and real-time data. AI models were subsequently built based on these use cases and data, with the solution deployed into production by end-2020. Within six months of the AI platform going live, CIMB observed multiple benefits, including lower expected losses and higher returns against capital in its retail loans segment.

The newly developed AI models were rigorously tested and validated before being utilised in production for decision-making. These models were also compared to traditional models across a set of three loan products, where the new AI models demonstrated significantly improved accuracy.

Vera Handajani, Group Chief Risk Officer, CIMB Group said, "Our new credit risk platform, driven by innovative use of AI, has reduced the cost of processing loan applications and is expected to reduce our credit loss by improved default probability estimation for retail loans. Within six months, we were already able to see tangible results and savings from this AI-driven approach, building on our momentum as we scale digital transformation across the organisation. This is in line with our focus on digitising for value under our Forward23+ strategic plan.

Simon Brender, Regional Vice President Asia, DataRobot said, "As competition between regional, global financial institutions and fintech intensifies across the region, AI is becoming critical for financial services institutions operating in the region to stay ahead of the competition. CIMB is leading the way in harnessing the power of AI to reduce risk, and we are proud the noteworthy results of our collaboration have been recognised by this prestigious award from The Asset."

The Asset Triple A Digital Awards recognise financial institutions and technology firms that have excelled in innovation and have developed a unique digital experience for customers across the Asia-Pacific and the Middle East. The Asset Triple A Awards have been built upon a stringent methodology and a rigorous approach to selecting the winners. The awards are adjudicated by The Asset's board of editors, who collectively have several decades' worth of experience evaluating industry awards in the Asia-Pacific and the Middle East.


About DataRobot

DataRobot AI Cloud is the next generation of AI. DataRobot's AI Cloud vision is to bring together all data types, all users, and all environments to deliver critical business insights for every organization. DataRobot is trusted by global customers across industries and verticals, including a third of the Fortune 50. For more information, visit .

About CIMB

CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM55.3 billion as at 31 December 2021. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, South Korea, the US and UK.

CIMB has one of the most extensive retail branch networks in ASEAN with 630 branches and around 33,000 employees as at 31 December 2021. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

#CIMB

The issuer is solely responsible for the content of this announcement.

News from Asia

Project for Love Expands Compassion-Based Education Across Africa

JOHANNESBURG, SOUTH AFRICA - African Media Agency (AMA) - 15 October 2025 - Project for Love, a global educational movement rooted in loving-kindness and compassion, is deepening its impact in Afri...

World Vision marks its 75th anniversary with World Vision Day , sharing the achievements of its global poverty alleviation efforts and expressing gratitude to its partners for walking alongside

HONG KONG SAR - Media OutReach Newswire - 16 October 2025 - Embarking the 75th anniversary of World Vision International, World Vision Hong Kong hosted World Vision Day on 11 October, 2025 (Saturd...

The National University Hospital and Ruijin Hospital, Shanghai Jiao Tong University School of Medicine establish key partnership for collaborative healthcare innovations

Through the newly-formed Singapore-Shanghai Medical Innovation Centre, clinicians from both hospitals partner to advance breakthroughs in cell and gene therapy and orthopaedics for a start SING...

Aryaka Launches New Channel Program, Bringing Simplicity and Scalability to Partner Ecosystem

Aryaka Partner Program strengthens partner engagement, improves ease of onboarding, and positions company for accelerated channel-led growth SINGAPORE - Media OutReach Newswire - 16 October 2025 –...

"Veterinary Orthopedic Guardian": European Veterinary Surgeon Dr. Hannah Partners With VEC Hong Kong

Bringing Extensive European Experience to Lead Advanced Orthopaedic Surgeries and Elevate Pet Surgical Care HONG KONG SAR - Media OutReach Newswire - 16 October 2025 - Veterinary Emergency Centr...

Tourism and Commerce Surged During F1™[1] Singapore Night Race – Visa

The increase in spend is driven by affluent travellers and nighttime economy SINGAPORE - Media OutReach Newswire - 16 October 2025 - Visa, a global leader in digital payments, today released new i...

Kuala Lumpur Sustainability Summit 2025 Champions Regional Leadership in Climate Action and Green Growth

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 16 October 2025 - The Kuala Lumpur Sustainability Summit (KLSS) 2025 continued its momentum on the second day, following the launch on Tuesday by...

Jollibee Named Best in Customer Service Among Fast Food Chains in Singapore

SINGAPORE - Media OutReach Newswire - 16 October 2025 - The Jollibee Group celebrates another major milestone and international win as Jollibee Singapore has been hailed by the Straits Times as th...

Sentorise Launches the 12.8V 100AH Group31: Reliable, Sustainable Power for Europe

BERLIN, GERMANY - Media OutReach Newswire - 16 October 2025 - Sentorise has launched its 12.8V 100Ah Group 31 LiFePO₄ battery in Europe, providing a reliable power solution for RV travelers, off-g...

Super Property Pro (SPP) Officially Launches Cloud-Based Real Estate System

Streamlined Property Listing Management to Help Agents Close Deals Faster HONG KONG SAR - Media OutReach Newswire - 16 October 2025 - Super Property Pro (SPP), a PropTech company dedicated to empo...

How to Be Investable: Insights from Richelle Nicols, CEO of Pollinatr

Richelle Nicols is the CEO of Pollinatr, a pioneering investment and business development program designed to support and accelerate the growth of s...

What Can Australian SMEs Hope For in a Meeting Between Albanese and Trump?

For small and medium-sized enterprises (SMEs) in Australia, international politics might seem distant—but when leaders like Prime Minister Anthony...

Qantas to Serve Nan’s Davidson Plum Cookie

Lake Macquarie, NSW (Awabakal Country): From a single mother’s kitchen bench to supermarket shelves, Wiradjuri entrepreneur Terri-Ann “Tezzi” Dani...

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...

From the first bounce to the final siren - small business lessons from the AFL Grand Final

The AFL Grand Final is one of the most anticipated days on the sporting calendar. This Saturday, the Geelong Cats and Brisbane Lions will battle i...