Maybank Islamic taps Audax and AWS to power digital transformation of its banking services
Malaysia’s Maybank Islamic Bhd, the Islamic banking arm of the Maybank Group, has selected Audax Financial Technology, a Banking-as-a-Service (BaaS) fintech launched by Standard Chartered Ventures in 2023, to power the digital transformation of its banking services.

Maybank Islamic partners Audax
The bank will use Audax’s BaaS platform to deliver a suite of new sharia-compliant digital products hosted on Amazon Web Services‘ (AWS) cloud infrastructure.
These products will provide customers with “paperless, real-time onboarding, efficient account management, and instant access to digital banking services”, Audax says.
As well as onboarding and account management, Audax’s offering also supports solutions for card issuance, payments, lending, servicing, and rewards and pricing.
Maybank Group outlined its M25+ strategy in 2022, which prioritises “intensifying customer centricity, accelerating digitalisation and technological modernisation”.
As the group’s Islamic banking subsidiary, Maybank Islamic currently offers retail, business and corporate banking and wealth management services across the Asia Pacific region, and is one of the largest Islamic banks in the world in terms of assets.
The subsidiary notably partnered with Telekom Malaysia Bhd (TM) in February last year to deliver Malaysia’s first Islamic BaaS solution powered by 5G.