Posted by Mumbai-Kuala Lumpur: Clover Infotech and KISL, a seasoned IT firm have signed a Memorandum of Understanding (MoU) to transform the Malaysian banking sector.
This strategic partnership will focus on delivering best-in-class digital transformation and managed services across the Oracle stack to leading banks and financial services institutions (FSIs) in Malaysia.
Clover Infotech brings deep expertise in Oracle technologies and its proven track record in managed services for banks through its “run the bank, change the bank, and transform the bank” initiatives. KISL comes with extensive experience in over 100 successful digital transformation projects across the Oracle stack.
The MoU between Clover Infotech and KISL will empower Malaysian banks to reimagine their technology landscapes and leverage new-age technologies to enhance growth and efficiency.
The key objectives of this MoU are to drive innovation, modernise banking technology, deliver service excellence, enable future-ready banking, and ensure regulatory compliance and adherence across Malaysia’s banking and financial organisations.
Interestingly, Oracle has announced its plan to invest more than US$6.5 billion to open a public cloud region in Malaysia. By leveraging Oracle’s cutting-edge technologies—such as the AI-powered Oracle Fusion suite and Oracle Cloud Infrastructure (OCI)—the partnership will enable Malaysian banks to modernise their applications, seamlessly scale their operations, and deliver exceptional customer experiences.
The partnership will focus on enabling banks to not only meet but exceed customer expectations by introducing advanced technologies that enhance efficiency, agility, and innovation. Malaysian banks will gain access to a robust managed services model and state-of-the-art Oracle solutions to address the evolving demands of customers and regulatory requirements.
“This partnership reflects our shared vision of empowering banks and financial institutions in Malaysia with best-in-class digital and technology services and transformative Oracle solutions,” said Kunal Nagarkatti, CEO of Clover Infotech.
“KISL’s proven track record in delivering over 100 successful projects, combined with Clover Infotech’s strong capabilities in Oracle technologies and digital transformation services for banks, will redefine how banks operate and engage with customers. This MoU is a testament to our commitment to helping Malaysian banks unlock their full potential by leveraging Oracle’s AI-powered solutions and cloud infrastructure,” said Shanmuga Ganesh, President of KISL.