Alliance Bank Malaysia has gone live with an AI-powered Retail Loan Origination System developed by CTOS Data Systems and JurisTech as part of its push to modernise retail lending.
The project, initiated in May 2023, focuses on automation, improved decisioning accuracy and faster turnaround times.
The platform manages the full loan lifecycle from lead management and digital onboarding to decisioning, disbursement and credit administration.
It is built for straight-through processing and multi-product origination, with the first production release completed within a year.
Since implementation, the bank has recorded more than a 30 percent improvement in application turnaround time and staff efficiency.
Personal financing applications can now be processed through straight-through decisioning and disbursed on the same day.
Mortgages, personal loans and credit cards are already live on the system.
Alliance Bank plans to extend the platform to share margin financing and will test generative AI features through JurisAI.
These include automated document processing, AI-assisted credit paper preparation, adaptive assessments, virtualised decisioning and personalised customer journeys.
JurisTech said the collaboration is helping banks streamline credit operations and scale more efficiently.
Loh Kok Leong, Group Chief Executive Officer of CTOS, said,
“The initiative demonstrates how data intelligence can redefine lending.
By combining insights with innovation, we are helping banks open new doors of opportunity for every Malaysian.”
Gan Pai Li, the Group Chief Consumer Banking Officer of Alliance Bank, said,
“The successful implementation of the Retail Loan Origination System marks a significant milestone in our digital transformation journey. As The Bank For Life, we understand that customers today are looking for a more convenient and personalised banking experience.
By adopting advanced technologies and data-driven decision-making into our products and services, we are confident that this is the right step forward to continuously enhance customer experience in every step of their journey with us.”
The bank said the upgraded system’s enhanced analytics and adaptive scoring models may allow it to incorporate alternative data in future to support more dynamic eligibility assessments and expand access to credit.
