KUALA LUMPUR, July 8 — Malaysian banks must change how they use technology. They need to move from basic software adoption to trusted AI implements. The Asian Institute of Chartered Bankers (AICB) shared this today at a major finance meeting.
The local banking sector is growing fast. Many firms use automation to handle daily work. However, banks still face cyber risks and tough global rules. Industry experts say success depends on building public trust. Simply buying new software is no longer enough.
A new industry report shows a large gap in executive confidence. Local firms use AI for fraud checks and basic tasks. Yet, top bosses remain highly cautious. Only 25 percent of banking leaders trust AI data enough to make big business choices.
To fix this issue, the sector created a new AI Governance Framework. This plan did not come from a government order. Instead, local banks chose to set their own high standards. This strategy helps build consumer trust from within the financial system.
Top officials say that software alone cannot keep money safe. True innovation requires excellent human leadership. Banks must protect society while using new tech tools. Moving forward, local groups will train workers to manage these advanced systems safely.
