Page 86 - KWAP_AR2022

84 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) FoR BEttER PERFoRMANcE

ENTERPRISE REVIEW
DIGITALISATION

Business System Enhancements
In terms of the business system, KWAP successfully implemented an enhanced Real-Time Electronic
Transfer of Funds and Security system (RENTAS) to support ISO 20022 standard payment messages.
ISO 20022 is a globally recognised standard for electronic data interchange between financial institutions.
In comparison to previous ISO 15022 standard, the new standard improves the data content, provides a
more structured messaging format, and has the ability to accommodate modern technologies easily.
With this implementation, KWAP’s payment messages process is more efficient with high quality data and is
in compliance with with Bank Negara Malaysia’s migration strategy to enhance RENTAS system to the new
standard.

Enterprise Data Solution

Businesses use data to make more efficient and organised decisions where data provides valuable insights.
KWAP completed a comprehensive analysis on its existing data warehouse infrastructure, as to make the
most out of the mountains of data that it produces every day. Based on the findings, improvements will be
made to address the growing enterprise data. Furthermore, the establishment of an Enterprise Data Solution
unit focusing on emerging solutions such as data analytics, advanced reporting and artificial intelligence will
enable access to high-quality data for accurate analysis, enhance customer experience and boost efficiency
through tasks automation.

Digital Division Activation to Drive Digital Excellence
KWAP also activated the formation of Digital Division in the fourth quarter of 2022 to drive and accelerate
digital excellence throughout the organisation. The division comprises Digital Strategy and Services, Digital
Infrastructure, Digital Security, Digital Business Systems and Digital Data Management. This transformation is
intended to allow digital activities to be more focused and aligned with business in executing digital initiatives
while still providing the necessary day-to-day operational support to the stakeholders.