Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Digital Transformation Initiatives Financial year 2020 marked Cim Finance’s first steps in what is to be a challenging but highly rewarding journey to embrace digital business for the benefit of our customers, employees and shareholders. Our vision for the digital transformation included embedding new governance structures, people development and securing innovative implementation partners. The pandemic pushed us to re-calibrate our digital strategies and fast track some of our initiatives. Data & Analytics for instant credit decisioning and data-backed decisions This has enabled the majority of our retail clients to receive instant credit decision responses, while also refining the quality of those decisions. Launch of our Consumer App We fast tracked the launch of our Consumer App, Mo Finans, during the lockdown. This enables our customers to have visibility of their installment amounts payable and facilitates payment either by using cards, bank payment apps or online banking channels. Launch of e-contracts In order to provide our customers and partners the ability to sign contracts remotely, we have enabled accepting e-signature in a true digital way using a secure product wherein our customers can sign their contracts without visiting any of our offices. IT Infrastructure modernisation We embarked on a new network optimisation and modernisation programme across branches and in-store retail points of sale which will give us better speed, flexibility and management of network. Business Continuity Plan During the year more than 200 staff were connected remotely to the Data Centre through our Virtual Private Network (VPN) during the lock down period on account of the pandemic. We implemented: • a software to protect against unauthorised access of cloud-based applications (i.e. the Cloud Access Security Broker); • a Security Incident and Event Management (SIEM) tool to monitor and take proactive actions against any incidents, events and threats through our new and Data Leakage Prevention and Mobile Device Management tools. Data Protection and Cybersecurity 25