Bursa Malaysia completes retail CX analytics PoC with Malacca Securities as one of their collaborators

KUALA LUMPUR: Bursa Malaysia Bhd has completed its Retail Customer Experience (CX) Analytics Proof-of-Concept (PoC), a data-driven analytics project piloted on the exchange’s cloud and artificial intelligence (AI) platform.

In a statement today, Bursa Malaysia said the PoC was undertaken in collaboration with four participating organisations (POs), namely Hong Leong Investment Bank Bhd, CGS-CIMB Securities Sdn Bhd, Malacca Securities Sdn Bhd and RHB Investment Bank Bhd, with the aim of advancing the development of the capital market’s investor base.

It said leveraging its in-depth industry-wide datasets, the exchange developed a machine learning model built on its AI and cloud platform while also tapping into participating POs’ deeper understanding of their retail customer segments and distinct behaviours.

"A hyper-personalisation approach was applied to aid in the design of customised initiatives to cater to distinct retailers’ needs with the aim of bridging information gaps and improving retailers’ financial literacy.

"Additionally, this cloud-enabled model facilitates multi-party collaboration in an efficient and cost effective manner while driving a ‘single-source-of-truth’ perspective in the metrics used to identify trends and insights,” it said.

Chief executive officer Datuk Muhamad Umar Swift said the exchange would invest in accelerating its digital transformation journey in new technology and data analytics for successful customer outcomes in an effort to better understand the increasingly complex and changing investor behaviour.

"This collaboration served as a platform for Bursa Malaysia and participating POs to explore and co-create more solutions on areas that are impactful to the industry, capitalising on data-driven and digital capabilities.

"The exchange is committed to investing in advanced technology that will improve the data solutions and CX experience we provide to our stakeholders,” he said.

Meanwhile, the head of bursa data business Wong Chiun Chiek said in addition to the PoC, Bursa Malaysia has established a Minimum Viable Product (MVP) that included a decision-making framework.

"This is in line with Bursa Malaysia’s strategic intent to offer new and innovative services to the industry using data and digital technologies,” he said.

The exchange added that with the completion of the PoC, it is moving closer to turning the MVP into a market-ready product and Bursa Malaysia would work closely with participating POs in order to continuously improve and refine the solution. - Bernama