50 ABOUT THIS REPORT WE ARE KENANGA LEADERSHIP STATEMENTS SUSTAINABILITY AT KENANGA KENANGA INVESTMENT BANK BERHAD SUSTAINABILITY REPORT 2023 At Kenanga, our digitalisation strategy is premised on expanding our digital offerings to create a comprehensive approach to wealth creation. We also aim to streamline workflows through automation to boost efficiency, and continue to enhance our IT governance for effective oversight of digital initiatives. Our objectives include optimising resources, speeding up digital implementation, and refining cost structures. Furthermore, we aim to forge strategic partnerships with technology leaders to drive innovation and deliver value to our customers. These efforts underscore our commitment to leveraging digitalisation to fuel growth and innovation in our business. OUR APPROACH DIGITALISATION WHY IT MATTERS We recognise that strengthening our digital competitiveness is vital to our continued sustainability and growth, especially given the rapidly evolving financial landscape. Our goal is to optimise internal operational efficiency through digitisation, as well as to create an integrated and seamless digital experience that offers a suite of products. GRI 3-3 Information Technology (“IT”) Governance The Group Board Digital Innovation & Technology Committee (“GBDITC”) supports the Board in providing direction and oversight on technology-related matters, including risks, in line with business requirements, and relevant regulatory expectations. The GBDITC reviews, evaluates and recommends technological innovations for the formulation of the Group’s medium and long-term business strategy, and assists the Board in ensuring that the Group’s technology resources and initiatives are aligned with its overall digitisation strategy and objectives. Following the development of the five (5)-year IT strategy in 2022, the strategy remains on track, with a focus on cloud adoption strategy and adoption of AI technology for operations and security. The strategy will continue to be implemented as planned and reviewed annually to ensure it remains relevant and effective. Principles of the IT Strategy 2023-2027 IT Strategy 2023-2027 Ease of Operations Simplify operations model and reduce manual manpower and further repurpose human resources. Improve Business Revenue Create additional workstreams to boost business revenue. Reduce Risks Reduce technology and business risks to ensure business runs as usual. Cost Reduction Reduce and repurpose OPEX to other work initiatives. Time to Market Improve application time to market and gain velocity to support Digital and Digitisation initiatives. SUSTAINABLE ECONOMIC GROWTH
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