CapBay has surpassed RM6 billion in cumulative financing over its first decade, issuing 45,000 financing notes to more than 2,700 Malaysian SMEs across 20 industries. The company provides working capital through supply chain finance and P2P financing platforms. It assesses live trading data, invoice validity and buyer payment records rather than relying on property as collateral. According to CapBay, this approach reduces financing approval times from months to days. Workforce management firm Manforce Group Berhad is among its clients. Finance Director Andrew Chin said faster access to financing helped the company manage liquidity gaps during the COVID-19 pandemic and improve…
Author: Fintech News Malaysia
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Cashku has partnered with Muamalat Invest to offer Shariah-compliant funds on its digital wealth platform. The deal, reported by Startup Rise, gives eligible users access to money market, sukuk, Malaysian and global equity, gold and Shariah-compliant private credit funds through a single app, with no sales charges. Muamalat Invest is the Islamic fund management arm of Bank Muamalat Malaysia Berhad. The partnership widens digital distribution for its Shariah-compliant products beyond the bank’s own channels. How Cashku splits retail and wholesale access Retail funds will be open to eligible Cashku users. Wholesale funds, including the private credit products, are restricted to…
AEON Bank has resolved a technical issue linked to a promotional campaign after a customer reported seeing more than RM1 billion in his account on 14 October. In a Threads post, the customer shared a screenshot showing RM1,000,315,879 in a transaction recorded at approximately 10.36am. Listed under “Bank adjustment”, the transaction carried the description “Cash Reward – Merdeka / Malaysia Day 2026 Campaign (Cycle 6)”. The entry appeared to relate to AEON Bank’s Merdeka and Malaysia Day promotional campaign, which ran from 17 August to 27 September 2026. Customers who spent at least RM15 through DuitNow QR stood a chance…
Ledger has called on retailers across Southeast Asia and Hong Kong to halt sales of its crypto wallets amid an ongoing tampering investigation. The company identified Malaysia, Singapore, Indonesia, Thailand, the Philippines and Vietnam as the affected Southeast Asian markets and instructed resellers to remove the devices from shelves. The move follows reports of cryptocurrency thefts linked to tampered Ledger devices purchased through Malaysian reseller CryptoBilis. Ledger previously confirmed finding an unauthorised hardware implant in one affected device. Incident Update – Oct 13th, 2026 Ledger is asking resellers and distributors in Southeast Asia and Hong Kong to suspend sales of…
Finexus aims to help Malaysian banks prepare for more granular regulatory data submissions under Bank Negara Malaysia’s (BNM) Project STREAM. Its AIRStream platform is designed to process information from different banking systems and convert it into the required reporting formats, reducing the need for major changes to existing core banking infrastructure. Project STREAM aims to reduce repetitive submissions by allowing BNM to collect data once for multiple reporting purposes where practicable. The initiative will shift regulatory reporting away from manual templates towards standardised, automated data submissions. BNM expects the first phase, covering deposits, payments and derivatives, to begin data collection…
UOB Malaysia and Invest Selangor Berhad have facilitated investments exceeding RM3 billion into Selangor. Four companies presented letters of intent (LOIs) for proposed investments in digital infrastructure, life sciences, advanced manufacturing and new energy during the opening ceremony of the Selangor International Business Summit (SIBS) 2026. The LOIs are a direct outcome of a public-private collaboration that UOB Malaysia and Invest Selangor signed in November 2025. The partnership aims to attract global investment into Selangor and help multinational companies enter the market. It also seeks to support the development of future-ready industries. Galaxy DC Pte Ltd is an AI-focused hyperscale…
Tourism Malaysia has partnered with Alipay+ to encourage tourists to spend beyond Malaysia’s major travel destinations. The two parties signed a MoU to expand cross-border payments and AI-powered travel services under the Visit Malaysia 2026–2027 campaign. The partnership aims to connect international visitors with local businesses through Alipay+’s network of digital wallets and banking apps. Its AI travel agent, Alipay+ Voyager, will recommend Tourism Malaysia-verified cultural, culinary and other tourism experiences based on travellers’ interests. Tourism Malaysia also plans to introduce an AI-powered travel subsidy programme that allows visitors to access accommodation, transport and attraction benefits through the digital agent.…
Malaysians aged 30 and below made RM5.4 billion in BNPL purchases across 65.9 million transactions, the Finance Ministry told Parliament, as reported by The Star. Young consumers accounted for 37.9% of Malaysia’s 173.9 million BNPL transactions and 36.7% of the RM14.7 billion total value. This is broadly consistent with earlier figures showing that young users made up about 40% of BNPL transactions in 2025. Young consumers hold RM2.4 billion in outstanding BNPL debt As of 30 June, consumers aged 30 and below had RM2.4 billion in outstanding BNPL financing, of which RM96.8 million, or 4%, was unpaid. The ministry disclosed…
CTOS Digital expects a RM16 million revenue hit in 2026 as a cybersecurity incident continues to disrupt some of its credit reporting services. In a Bursa Malaysia filing, the company said its CTOS Score and reports related to the Central Credit Reference Information System (CCRIS) remain temporarily unavailable. Other services continue to operate. CTOS first disclosed the incident on 23 September, reporting unauthorised access to certain files containing a limited subset of consumer information. The company estimates a RM3 million revenue impact in the third quarter and RM13 million in the fourth quarter. It also expects a RM12 million impact…
Bank Negara Malaysia (BNM) is preparing to overhaul how financial institutions report data, with automated submissions expected to begin in late 2028. The multi-year initiative, known as Project STREAM (Statistical Reporting Modernisation), will shift reporting away from manual templates towards an API-enabled system. BNM recently brought together 60 representatives from financial institutions for its fourth Industry Working Group meeting to discuss implementation priorities, timelines and industry readiness. The first phase will focus on deposits, payments and derivatives, with entity profiles also identified as a priority during the meeting. BNM Wants to Cut Down on Repetitive Data Submissions According to BNM’s…
OneKey has dropped CryptoBilis as an authorised reseller and offered free wallet replacements. The move follows reports of cryptocurrency theft involving Ledger hardware wallets sold by the Malaysian retailer. In a statement, OneKey said it had received no reports of its users losing assets in connection with the incident but was taking precautionary measures. The company has stopped onboarding new resellers and is reviewing its existing distribution network. Resellers whose business entities cannot be verified or whose ultimate beneficial ownership is unclear will lose their authorisation. OneKey expects its reseller network to shrink and will publish a complete list of…
Bank Negara Malaysia (BNM) has warned of deepfake videos impersonating its senior officials to promote investment schemes. The central bank stressed that neither BNM nor the Securities Commission Malaysia (SC) promotes or recommends private investment schemes. It urged the public to verify suspicious content before acting on or sharing it. BNM’s verification page provides examples of deepfakes and impersonation scams involving the central bank. Consumers can also check BNM’s Financial Consumer Alert List and the SC’s Investor Alert List for entities or schemes flagged by the authorities. To check whether an entity is authorised to offer financial or investment products,…
RHB Bank has gone live with a new enterprise customer relationship management (CRM) platform powered by BUSINESSNEXT. The system supports more than 2,800 users across the Malaysian lender’s branch network and contact centres, making it one of RHB’s largest customer-focused technology initiatives to date. With more than 75 integration points spanning web, mobile banking, internet banking and email, the platform streamlines how RHB manages customer interactions, service requests and business opportunities. It also gives employees a more integrated view of customer engagement. RHB expects the system to help identify opportunities earlier, improve service recovery and coordinate relationship management across the…
Thailand-based Salary Hero has raised US$7.6 million in Series A funding as the earned wage access (EWA) provider expands into Malaysia. Cento Ventures led the round, with participation from Malaysia-based Kairous Capital and M Venture Partners. The company has also expanded its credit facility with regional lenders to US$10 million to support its on-demand pay services. Salary Hero began operations in Malaysia in the second quarter of 2026 and has established a local team to develop corporate and distribution partnerships. It aims to work with 50 corporate partners by the end of 2027. “We started Salary Hero because the financial…
Police have questioned six witnesses in an investigation into MyEG and Zetrix AI over their alleged failure to remit RM230.9 million in government revenue collected for the Road Transport Department (JPJ), Free Malaysia Today reported. Datuk Rusdi Mohd Isa, director of the Bukit Aman Commercial Crime Investigation Department (CCID), said police opened the investigation under Section 409 of the Penal Code for criminal breach of trust following a report received on 7 October. Police have obtained relevant documents for examination and plan to question more individuals as the investigation continues. Rusdi also urged the public to avoid speculation and sharing…
Genting Malaysia Berhad (GENM) has signed a MoU with Alibaba Cloud to explore AI and cloud applications across its operations. The agreement builds on an earlier collaboration at Genting SkyWorlds Theme Park, where the two companies used AI and cloud technology to support the guest experience. Under the agreement, the two companies will explore how Alibaba Cloud’s AI and cloud technologies could support employee productivity, operational efficiency and guest experiences across GENM’s businesses. Building on the Genting SkyWorlds project At Genting SkyWorlds, Alibaba Cloud deployed an AI-powered virtual queue system in 2022 that allows visitors to reserve rides through the…
The Securities Commission Malaysia (SC) has put Binance back on its Investor Alert List. In an update dated 8 October 2026, the regulator flagged the cryptocurrency exchange for operating a digital asset exchange (DAX) without registration. Binance was the only entity added in the 8 October update. The entry identifies binance.com as the website concerned and provides no local address. Binance first appeared on the list in July 2020, when the SC flagged the exchange for operating a recognised market without authorisation. In July 2021, the SC publicly reprimanded Binance for continuing to operate illegally in Malaysia. The regulator ordered…
Blockchain analytics firm Bitquery estimates that US$102 million was stolen from 324 cryptocurrency wallets in an incident linked to Ledger devices sold through Malaysian reseller CryptoBilis. The findings, updated on 12 October, increase the estimated losses from the previously reported US$86 million after researchers identified additional transactions. According to the report, approximately US$79.3 million was taken from wallets on Tron and US$16.8 million from Bitcoin, with the remaining losses spread across Ethereum, BNB Chain, Polygon and Solana. Signs of Coordinated Activity Across Hundreds of Wallets Bitquery’s analysis suggests that a single actor may have had access to the keys needed…
Revenue from Malaysia’s H-series vehicle registration number auction will help fund RM1,000 in one-off financial aid for taxi and rental car drivers. According to Bernama, Transport Minister Anthony Loke confirmed that the aid will be distributed to 38,000 drivers in stages starting 14 October. The assistance was announced by Prime Minister Anwar Ibrahim during the tabling of Budget 2027. Although the budget has yet to receive parliamentary approval, Loke explained that the government can proceed with the payments because revenue from the special registration number sales has already been collected. The H-series registration number auction generated RM91.2 million in September,…
Malaysia could introduce the RM50 monthly MyKomuter50 pass for unlimited KTM Komuter rides as early as 1 December, with 1 January 2027 as the fallback date if technical preparations are not completed in time, Malay Mail reported. “We are targeting a launch as early as 1 December or, at the latest, January 1 next year. If it is not ready by 1 December, we will launch it on 1 January,” said Anthony Loke, Transport Minister, at a press conference in Putrajaya on Monday (12 October). The MyKomuter50 pass will allow Malaysian citizens to take unlimited KTM Komuter journeys for 30…