Takaful Malaysia Am partners with Handshakes to strengthen risk and compliance tools
Takaful Malaysia Am has partnered Handshakes to strengthen data-driven compliance and risk monitoring in Malaysia's takaful sector.
The companies signed a memorandum of understanding to integrate corporate intelligence, Ultimate Beneficial Ownership (UBO) governance and risk insights into Takaful Malaysia Am's onboarding, due diligence and ongoing monitoring processes.
The partnership comes as Bank Negara Malaysia tightens scrutiny of AML compliance across Malaysia's takaful and financial sector, covering anti-money laundering, counter-terrorism financing, counter-proliferation financing and targeted financial sanctions requirements.
The integration is expected to provide clearer visibility into ownership structures and help identify risk exposure earlier across the customer lifecycle.
Handshakes will also provide selected stakeholders in Takaful Malaysia Am's network with access to its corporate intelligence platform, the Handshakes APP, including bancatakaful partners, takaful intermediaries, loss adjusters and claims solicitors.
Daryl Neo, CEO and Co-Founder of Handshakes Technology Malaysia, said,
"This partnership reflects a shared commitment to enhancing compliance capabilities through data and technology.
By embedding real-time intelligence directly into day-to-day decision-making, we are enabling financial institutions to better identify risk - addressing it as it emerges, not after the fact. Our collaboration with Takaful Malaysia Am marks a strong step forward in that direction."
Mohamed Sabri Ramli, CEO of Takaful Malaysia Am, said,
"This partnership is about strengthening how risk is understood, assessed and managed across the business. As expectations on governance continue to evolve, takaful operators require greater clarity, consistency and speed in decision-making and execution.
This collaboration enables us to move forward with greater confidence and agility, while contributing to higher standards and reinforcing trust across the industry."
Featured image: (From left) Nur Amin Haji Nurazmi, Head of General Operations, Syarikat Takaful Malaysia Am Berhad; Mohamed Sabri Bin Ramli, Chief Executive Officer, Syarikat Takaful Malaysia Am Berhad; Joleen Yoong, Global Head, New Business Sales, Handshakes; Norhafiza Abdul Kadir, Assistant Director, New Business Sales, Handshakes.
