Author: Fintech News Malaysia

TNG eWallet is refreshing its homepage as services beyond payments now contribute more than half of its revenue. The new homepage will roll out from today (4 June) with a search-first layout, allowing users to find services without moving through multiple layers in the app. The update adds four quick access hubs: GOfinance for financial services, Near Me for nearby food and beverage deals, Bills for utilities and recurring payments, and Transport for commuting and travel. The bottom navigation bar has been simplified around frequently used features and designed for one-handed use. TNG eWallet Moves Beyond Payments TNG Digital, the…

The Securities Commission Malaysia (SC) is raising the bar for Main Market listings while giving ACE Market companies a clearer route to scale. The SC has revised itsEquity Guidelines and released its response paper following a market segmentation review and public consultation that ended in December 2025. The changes sharpen the roles of the Main Market and ACE Market under Malaysia’s public listing framework, while taking into account feedback from stakeholders. The Main Market will remain focused on larger and more established companies, while the ACE Market will continue to serve small and mid-sized firms seeking a route to the…

Invest Hong Kong (InvestHK) announced that applications are now open for the ninth edition of the Global Fast Track (GFT) 2026 until September 25. For the first time, the flagship initiative will cover eight major verticals and introduce a new Online Market Readiness Programme, alongside an upgraded pitching competition. These enhancements provide a platform for innovative technology companies to showcase their solutions, while offering more diverse and flexible pathways to leverage Hong Kong as a launchpad for expansion into Asian and international markets. Anchored around Hong Kong Fintech Week x StartmeupHK 2026, the programme offers participating companies tailored business matching,…

CIMB Bank has partnered China Merchants Bank to support trade, payments and financing flows across the China-ASEAN corridor. The Malaysian bank signed a Letter of Intent with China Merchants Bank to develop a framework for cross-border client services. The partnership will give clients of both banks access to banking solutions across trade, payments and financing. CIMB and China Merchants Bank will also explore cash management, trade finance and settlement services, with a focus on cross-border treasury operations. The banks plan to expand mutual client referrals and work together on investment banking and advisory services. This includes support for companies looking…

Ryt Bank users can now invest from RM1 after the digital bank officially launched Ryt Invest. The in-app feature is offered in partnership with Opus Asset Management Sdn Bhd and gives users access to professionally managed funds through the Ryt Bank app. Ryt Invest includes Shariah-compliant investment access through Ryt Invest SavePlus, which comes with 0% sales charge and T+1 settlement across all funds. The funds are managed by OpusAM, which has more than RM10 billion in assets under management and an investment team with an average of over 25 years of industry experience. Wilson Soon, interim CEO of Ryt…

Bank Negara Malaysia (BNM) has imposed a RM17,400 compound on Rashidiya Trading Sdn. Bhd. after the money changer failed to issue receipts for two transactions. The compound was imposed on 13 April 2026 under the Money Services Business Act 2011. Licensed money services businesses are required to provide receipts for money-changing transactions in the form and manner prescribed by BNM. The rule supports proper record-keeping and gives customers documentation in the event of disputes. BNM found the breaches during an on-site supervisory examination and attributed them to inadequate management oversight. Rashidiya Trading has since strengthened its management oversight and introduced…

Aayush Singhania is Chief Product Officer at Tazapay, a Singapore-based cross-border payments platform that onboards customers across 70-plus countries and recently raised $36M to expand its stablecoin and agentic payments infrastructure. He joins Vincent Fong to explain why the SaaS subscription model breaks the moment AI agents become the customers, what replaces it, and how stablecoins connect two of fintech’s biggest open questions: how money moves across borders, and how software gets paid for in a world where AI agents are the buyers. In this episode: Why $30 trillion sits frozen in correspondent banking accounts How stablecoins disappear into the…

Wahed has surpassed US$2 billion in assets under management across its global entities, just over a year after crossing the US$1 billion mark. The Islamic fintech firm attributed the milestone to growing demand for Shariah-compliant digital investing among retail investors seeking products aligned with their faith and values. Wahed began as a digital investment platform focused on halal investing. It now aims to build a broader financial ecosystem that supports saving, investing, spending and long-term financial planning through products based on Islamic finance principles. Access to Shariah-compliant financial products remains uneven across markets. In some countries, options are limited, while…

Bank Islam Malaysia has clarified that its Be U digital banking app is being folded into BIMB Mobile rather than discontinued as a digital initiative. The clarification follows an earlier report that Be U will be retired on 31 July 2026, with customers moved to Bank Islam’s main BIMB Mobile platform. Bank Islam stopped accepting new Be U registrations in April 2026. Bank Islam Group CEO YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz described Be U as a completed digital incubation project for the bank. The app was reportedly built as a cloud-native digital banking platform to test…

AEON Bank has appointed former board member Mohammad Ridzuan Abdul Aziz as CEO, effective 22 May 2026. Ridzuan was previously an Independent Non-Executive Director of AEON Bank from February 2023 to February 2026. He was later appointed Officer-in-Charge on 1 April 2026. The bank noted that he has been involved in its digital banking journey since the pre-Operational Readiness Review and pre-launch phase. Ridzuan has three decades of experience across fintech, digital investment, insurtech, market regulation and compliance governance. He has also co-founded several fintech companies and previously held roles at Bursa Malaysia and the Securities Commission Malaysia. He is…

CTOS IDGuard has screened more than 18 million credit applications and flagged RM1.08 billion in potential fraud as digital lending grows in Malaysia. The fraud prevention system, which CTOS says is used by most Malaysian banks, has identified suspected and confirmed application fraud cases since its launch in September 2020. The flagged amounts were detected before disbursement, helping member banks reduce potential credit losses as more applications move through digital channels. In the 12 months to 30 April 2026, IDGuard screened more than 4.3 million applications and flagged an estimated RM276 million in potential application credit fraud. The figures reflect…

HSBC Malaysia has opened a new Premier Centre at its Subang Jaya branch in Taipan Business Centre, its third new Premier Centre in the country this year. The opening follows the launch of HSBC Premier Centres in Petaling Jaya and Puchong earlier in 2026. The centre will serve Premier customers seeking wealth, investment, protection, legacy planning and international banking support. HSBC Malaysia CEO Dato’ Omar Siddiq said, “Our continued investment in the Subang Jaya branch reflects our confidence in this evolution, our belief in Malaysia’s growth story, and our commitment to supporting both existing and new customers as their needs…

The Securities Commission Malaysia (SC) has introduced the country’s first Social Exchange as part of efforts to widen access to social impact financing. The platform, called Impakrintas, has been operational since 19 February 2026. It allows non-profit organisations to raise donations for eligible social impact projects through a regulated channel while giving donors more visibility over funding opportunities. Eight non-profit organisations have joined the platform so far. Their projects cover healthcare access, early intervention and health education for youth, food security, inclusive livelihoods and environmental sustainability, with a focus on underserved and vulnerable communities. The government has allocated a RM2…

AirAsia MOVE is exploring stablecoin payments in Kazakhstan through a proposed collaboration with Intebix and the Solana Foundation. The companies will assess the integration of Evo, a tenge-denominated stablecoin on Solana, into the AirAsia MOVE platform in Kazakhstan. The project will examine the technical architecture, settlement mechanics and regulatory alignment needed for a potential pilot within the National Bank of the Republic of Kazakhstan’s regulatory sandbox. The parties will also review the legal and commercial feasibility of the project before moving towards signing definitive agreements for the pilot phase. AirAsia MOVE, part of Capital A, serves more than 17 million…

KWAP now holds a combined 5.07 percent stake in AEON Co. (M) Bhd after its fund manager bought 1.57 million shares in the open market. The shares were acquired on 20 May 2026, according to a Bursa Malaysia filing dated 22 May 2026. The purchase brings KWAP’s total interest in the Malaysian retailer and mall operator to 71.11 million ordinary shares. Of this, KWAP holds 43.24 million shares directly, equivalent to 3.08 percent, while another 27.87 million shares are held indirectly through its fund managers, representing 1.99 percent. The filing was made under Section 137 of the Companies Act 2016,…

GXBank’s MSME financing push could receive a boost from a proposed risk-sharing facility from the International Finance Corporation (IFC), according to a DealStreetAsia report. The facility could support up to about US$110 million in loans to MSMEs, based on an IFC project disclosure cited by the report. The proposed unfunded guarantee would apply to the first-loss portion of the loan portfolio. IFC and GXBank would share the risk on a 90:10 basis, while IFC’s exposure would be capped at up to US$4.95 million in Malaysian ringgit equivalent. The arrangement is intended to help GXBank lend to MSME borrowers who may…

Bank Rakyat is launching the Bank Rakyat Fintech Community Hub in collaboration with the Fintech Association of Malaysia (FAOM), Plug and Play, and PayNet to standardise engagement with digital startups and accelerate the rollout of new products. The Fintech Community Hub initiative aims to provide continuous access to evaluated digital financial solutions, supporting the Islamic bank’s broader digital transformation agenda. An early result of this collaborative approach is the integration of Bank Rakyat’s Shariah-compliant Personal Financing-i applications into the BigPay digital wallet. The integration allows BigPay users to apply for credit directly through the app. The hub forms part of…

Bank Islam will fully discontinue its Be U digital banking app on 31 July 2026, according to Amanz, as the bank moves users towards its main BIMB Mobile platform. The bank had stopped new registrations for Be U in May and previously indicated that users would be shifted to Bank Islam accounts. On its website, Be U noted that the app will remain available until 31 July 2026 to give customers time to prepare for the transition. From 1 August 2026, users will be able to continue their banking activities through BIMB Mobile, which Bank Islam describes as offering more…

Bank Negara Malaysia (BNM) sees scope for MyDigital ID and other data-sharing schemes to support Malaysia’s Open Finance rollout, according to recent media reports, citing a spokesperson for the central bank. The key requirement will be customer consent. According to the spokesperson, personal financial information cannot be shared, accessed or used unless the customer has first given permission. She was responding to a question on whether MyDigital ID data could be connected to Open Finance. While such a link may be possible, the central bank stressed that consent would remain central to any data-sharing arrangement. BNM plans to introduce Open…

The Ant International Sustainability Report 2025 sets out the company’s sustainability agenda across payment access, SME digitalisation, AI, embedded finance and digital trust. Rather than treating sustainability as a separate corporate track, the report places it closer to the way digital financial services operate. Merchant access, credit availability, risk controls and online trust all sit within the wider discussion. Published as Ant International’s second sustainability report since independent operations began, the 2025 edition marks the first year sustainability metrics were added to management performance evaluation. Ant International’s Chairman, Eric Jing, described the approach as making accountability “structural, not aspirational.” The…