Malaysia’s five digital banks had reached 2.4 million customers and RM4.2 billion in deposits by end-2025, as Bank Negara Malaysia (BNM) rolled out a new framework to track their inclusion impact.
According to BNM’s Annual Report 2025, all five digital banks were operational by the end of last year, with about 65% of customers coming from unserved and underserved groups such as low-income households, gig workers and youth.
The banks had also approved RM1 billion in financing, with 34% going to those same segments.
Malaysia’s five digital banks are GX Bank, AEON Bank, Boost Bank, KAF Digital Bank and Ryt Bank.
Digital Banks Move Into Focus
The new Digital Bank Inclusion Monitoring and Evaluation, or DIME, Framework is meant to keep financial inclusion at the centre of the sector’s growth.
It looks at whether digital banks are building the right capabilities internally and whether they are delivering meaningful outcomes for consumers.
That includes governance, strategy, access to suitable products, responsible use and stronger financial health.
Pilot assessments in 2025 found broad alignment so far, with banks using tailored products, alternative data, flexible repayment features and near-instant approvals to serve individuals and SMEs more effectively.
This update comes as BNM takes stock of progress under the Financial Sector Blueprint 2022 to 2026.
The report shows the sector moving past launch and into execution, with more attention now going to whether digital finance is actually widening access and improving outcomes.
Digital Assets, Islamic Finance and Payments Stay on the Agenda
The report also shows BNM widening its focus beyond digital banking.
It highlights the Digital Asset Innovation Hub, Climate Finance Innovation Lab and i-CITA programme as part of a broader push to support financial solutions that are more closely tied to the economy’s needs.
BNM also noted that more financial service providers are using AI for customer analytics, operational efficiency and risk management, and pointed to a discussion paper outlining its regulatory and development approach.
Open finance is also moving ahead. In November 2025, BNM issued an exposure draft setting out proposed rules for safer and more consistent data-sharing between financial institutions and third-party providers, with consumer consent and data protection built into the framework.
Islamic finance remained another key part of the picture. The report notes that value-based finance gained further ground in 2025, while the phased adoption of MYOR-i marked a step forward for Islamic financial markets.
It also frames Islamic finance as an area with wider ASEAN potential, supported by efforts to expand social finance, strengthen the halal ecosystem and improve regional integration.
Its digital asset work remains measured. The report describes the Digital Asset Innovation Hub as a platform for industry collaboration and tokenisation testing.
It adds that Project Mata Wang Ringgit, or Project Mawar, is exploring how wholesale CBDC and distributed ledger technology could improve interbank settlement and support future 24/7 RENTAS operations.
Payments rounded out the update. Malaysia’s payment and settlement systems remained reliable and secure in 2025, while 29 payment linkages are now live across ASEAN.
Work on RENTAS+ will also continue alongside BNM’s broader tokenisation and CBDC efforts.
The report shows BNM widening its fintech agenda, from digital bank inclusion and open finance to Islamic finance, digital assets and payments infrastructure.
Featured image: Edited by Fintech News Malaysia, based on image by Freepik
