Codebase Technologies has partnered with Ovanti to support the launch of an Agentic Digital Asset Bank aimed at enabling AI-driven orchestration of digital asset portfolios for both retail and institutional customers. The collaboration will see Ovanti’s technology arm, Datamorph, integrate its proprietary Web3 infrastructure and autonomous AI capabilities into Codebase Technologies’ Digibanc platform. This integration reduces the need for complex core infrastructure development and allows Ovanti to deploy the solution within its broader digital ecosystem. The partnership aligns with rising industry demand for AI adoption, with Accenture noting that nine out of ten organisations plan to increase AI spending in…

RHB has partnered with Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) to facilitate up to RM1 billion in financing for SMEs and mid-tier companies in Malaysia. SJPP, a wholly owned company of the Ministry of Finance, will provide government-backed guarantees under its existing schemes, helping eligible businesses access financing with reduced collateral requirements. The arrangement is designed to improve funding accessibility for SMEs that may otherwise face financing constraints. Beyond new financing, eligible companies will also have access to restructuring, rescheduling, and repayment assistance options, aimed at easing cash flow pressures amid a challenging operating environment. The initiative aligns with Bank…

Bank Negara Malaysia (BNM) and Bank Indonesia (BI) have signed a MoU to deepen their bilateral relationship, with a focus on payment systems and digitalisation. The agreement provides a comprehensive framework for the two central banks to collaborate on a range of established areas, including monetary policy, financial stability, and financial sector development. While the MoU covers broad macroeconomic stability, it specifically highlights payment systems and digitalisation as emerging areas for the partnership. “This MoU reaffirms the longstanding partnership between BNM and BI,” said Dato’ Sri Abdul Rasheed Ghaffour, Governor, Bank Negara Malaysia. “It also underscores our shared commitment to…

KWAP has appointed Dato’ Jay Khairil Jeremy Abdullah as its CEO effective May 20 2026. He brings extensive financial sector experience to the role, having most recently driven digital banking and operational transformations as the chief executive of Bank Simpanan Nasional. The arrival of Dato Jay Khairil at KWAP follows the departure of Datuk Hajah Nik Amlizan Mohamed. She had led the organisation as CEO since 2020. Dato’ Jay Khairil has spent nearly 30 years in the banking and financial services sector. His expertise spans financial management, internal audit, risk management and corporate governance. During his time leading Bank Simpanan…

Ryt Bank is leveraging infrastructure from Tencent Cloud to power its conversational banking experience in Malaysia, enabling customers to complete financial transactions using natural language commands. The partnership provides the real-time communication backbone for Ryt Bank’s AI-driven digital banking platform, built around a “Zero-UI” model where users can bypass traditional app navigation and simply issue instructions such as sending money to a contact, with the system executing the transaction seamlessly. At the core of this capability is Tencent Cloud Chat (IM), which transmits AI commands and transaction data while supporting end-to-end encryption and full message auditing to meet stringent banking…

CIMB Bank and CIMB Islamic Bank have launched a financing programme to help MSMEs manage rising operating costs and supply chain disruptions linked to the West Asia conflict. The initiative is part of Bank Negara Malaysia’s RM5 billion SME Stabilisation Relief Facility. Eligible businesses can access additional working capital financing of up to RM750,000 with a tenure of up to five years. The financing rate is capped at a maximum of 3.75% per annum, which includes the guarantee fee. Funds under the facility support MSMEs’ short-term liquidity needs, including inventory purchases, operating expenses, and business continuity requirements. Priority goes to…

Vietnamese merchant management platform SoBanHang has raised at least US$3.8 million in a pre-Series A round to expand its digital services for micro-enterprises across the region, according to regulatory filings and a report by DealStreetAsia. The round was anchored by Malaysia’s Hong Leong Bank, which invested US$2 million, while OSK-SBI Venture Partners contributed US$1.5 million. Existing backers FEBE Ventures and Antler also participated, filings with Singapore’s Accounting and Corporate Regulatory Authority showed. Sources told DealStreetAsia that the fundraising is still ongoing. The latest financing comes three years after SoBanHang raised US$4 million in seed funding in 2021 across two tranches.…

As the government intensifies efforts to combat online scams in Malaysia, Meta faces potential legal action over its alleged failure to curb fraudulent content on its platforms. According to a report by Bernama, the Malaysian Communications and Multimedia Commission (MCMC) is reviewing measures to penalise the social media giant over the proliferation of fake accounts and scam-related content. Communications Minister Datuk Seri Fahmi Fadzil said the government had summoned Meta representatives after identifying large volumes of illicit content on social media platforms. More than 90% of the 230,000 content takedown requests issued by authorities involved online gambling and scam-related material.…

Malaysian businesses can now access the new RHB SME relief facility, which provides working capital financing of up to RM750,000 under a Bank Negara Malaysia (BNM) initiative. Eligible companies can secure the funding at a 3.75% annual rate, inclusive of guarantee fees. The loans are backed by up to 80% guarantees from Credit Guarantee Corporation Malaysia (CGC) or Syarikat Jaminan Pembiayaan Perniagaan (SJPP), which lowers the collateral requirements for applicants. RHB has created a fast-track application process for pre-selected customers to accelerate approvals. Standard applications for the wider SME market will open on 15 May 2026. The bank is also…

Wong Wai Ken has stepped down as StashAway Malaysia’s Country Manager after nearly eight years with the digital wealth platform. He reflected on his time at the company, where he joined in 2018 with a mandate to build StashAway’s Malaysia business. Wong was StashAway Malaysia’s first employee and led the company from its initial licensing stage to becoming one of the country’s largest digital investment managers. StashAway is currently the largest robo-advisor in Malaysia. He shared that StashAway Malaysia grew to RM1.3 billion in assets under management and served more than 60,000 clients during his tenure. The platform reported RM130…

The Securities Commission Malaysia’s investED programme has helped grow Malaysia’s capital market talent pool, with 65% of its Leadership trainees securing roles in the sector since its launch in 2023. Out of 581 trainees, 65% have secured jobs in the capital market, while the remaining graduates have found roles in sectors such as banking, fintech, consulting and accounting. Launched by Prime Minister Dato’ Seri Anwar Ibrahim in June 2023, investED is a collaboration between the SC, the Ministry of Finance, the Ministry of Higher Education, industry players and Malaysian universities. The programme has reached more than 190,000 university students and…

CIMB has launched a salary account that gives eligible salaried customers complimentary Takaful protection of up to RM200,000. The CIMB Salary Account is offered under the bank’s CIMB@Work programme, with coverage underwritten by Sun Life Malaysia Takaful Berhad. It covers 36 critical illnesses, including cancer, heart attack, stroke, Alzheimer’s disease and kidney failure, as well as death and total and permanent disability. Customers do not need health screening or a health declaration, although exclusions for pre-existing conditions apply. To qualify, account holders must be between 18 and 69 years old, have their salary credited into the account and maintain a…

Maybank Indonesia and Islamic lifestyle application Muslim Pro have launched Amanah Pro. The Islamic Banking-as-a-Service (iBaaS) platform helps users prepare financially for Hajj and Umrah pilgrimages. The integration allows Muslim Pro users in Indonesia to access banking services without visiting a physical branch. The feature is the first of its kind introduced within the Muslim Pro platform and is supported by Maybank Indonesia’s Shariah Business Unit. Amanah Pro uses Banking-as-a-Service technology developed by Audax, enabling non-bank partners to offer banking services within their existing digital platforms. This model allows the public to access Shariah-compliant financial services directly from community apps…

CIMB Group is selling its Thai unit’s auto financing portfolio to Krungsri as it shifts capital towards higher-return banking segments. The portfolio will be sold to Bank of Ayudhya Public Company Limited and its subsidiary, collectively known as Krungsri, at a modest premium to adjusted net book value. The sale is part of CIMB’s Forward30 strategy to exit non-core businesses and reallocate capital across its ASEAN franchise. It also forms part of CIMB Thai’s wider transformation programme, which includes operating model changes, branch and cost base optimisation, portfolio rebalancing, and a shift towards wealth management and regional wholesale banking. The…

Aleta Planet has secured two new Bank Negara Malaysia licences, allowing it to expand beyond card acquiring into remittance and e-money services. The Money Services Business Class B and E-Money Issuer licences add to its existing merchant acquirer licence in Malaysia, which allows the company to process credit and debit card payments. The Singapore fintech noted that the approvals will support its Malaysia expansion, where it plans to establish its second ASEAN hub after Singapore. Ryan Gwee, Founder and Group Chairman of Aleta Planet, said, “Securing this approval from Bank Negara Malaysia is a key milestone for Aleta Planet as…

TNG Digital will stop supporting debit card-linked Quick Payment and Auto Reload on TNG eWallet from 13 May 2026. The change, reported by SoyaCincau, affects users who rely on debit cards for automatic top-ups. Credit card users are not affected. Debit card users can still reload manually through the app. Other reload methods include DuitNow Transfer, credit cards and reload PINs. TNG Digital had paused the debit card features while reviewing transaction performance before deciding to remove support for them, citing reliability concerns. Users switching to credit cards should note that TNG eWallet charges a 1% convenience fee for reloads…

A company secretary has been fined RM50,000 after Bank Negara Malaysia (BNM) and the Companies Commission of Malaysia (CCM) found AMLA breaches tied to suspicious transaction reporting and company filings. BNM and CCM conducted a joint investigation into the suspected involvement of several company secretaries in an international scam syndicate. BNM found that Ardzlyn Hawatul Yuhanis Uyob@Ayob, a company secretary through Continuum Corporate House Sdn. Bhd., had failed to submit two Suspicious Transaction Reports to the central bank. The transactions involved foreign nationals associated with MB International Sdn. Bhd. and Ascent GT Sdn. Bhd. As a reporting institution under the…

Hata Digital has obtained Shariah certification for its digital asset platform, making it the first digital asset exchange in Malaysia to obtain the certification. The company is licensed and regulated by the Securities Commission Malaysia as a digital asset exchange. The certification follows a year-long review by independent Shariah adviser Amanie Advisors, which assessed Hata’s platform structure, operations and services against Shariah principles. The review covered Hata’s Digital Broker and Exchange services, as well as the screening of digital assets offered on the platform. It also assessed wallet services, trustee account arrangements, the treatment of unallocated deposits, staking services, fees…

Standard Chartered Malaysia has turned to CFO Mushahid Syed to steer the bank on an interim basis as CEO Mak Joon Nien prepares to exit. Mak will step down on 8 May after nearly four years as CEO, according to a report by The Edge. The bank attributed his departure to an external opportunity. His exit also covers board roles at Standard Chartered Malaysia Bhd, Standard Chartered Saadiq Bhd and other related entities. Mushahid will keep his CFO role while taking on interim leadership of the Malaysia franchise as Interim CEO and Head of Coverage. He will oversee the business…

Less than 1% of transactions are agentic today. Trulioo’s CPO believes that could reach 75% within a year, and most of the industry has no trust framework in place. Zach Cohen is the Chief Product Officer at Trulioo, a global identity verification platform that helps financial services companies verify identities and govern transactions across international markets. He leads product strategy at the intersection of AI governance, fraud prevention, and digital identity, and joins FNN to explain what the financial industry is missing as agentic commerce moves from theory to live deployment. In this episode: Why agentic commerce could jump from…