Posts From Fintech News Malaysia

Malaysia’s First JCB Payment Gateway Launched via Soft Space Partnership

Malaysian fintech Soft Space and Japanese payments firm JCB International have launched the nation’s first JCB payment gateway. This development is part of an ongoing strategic alliance between the two companies, initiated in January 2022. The collaboration has previously seen

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Ant International to Create Over 500 Jobs with New Malaysian Center

Ant International, a digital payment and financial technology provider, announced plans to open a new Digital Business Centre in Malaysia by 2025. The facility, which will be located in The Exchange 106 at the Tun Razak Exchange financial and business

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AEON Bank Gears Up for Q2 Launch of Malaysia’s First Islamic Digibank

AEON Bank is poised to launch its Islamic digital banking operations by the end of the second quarter, targeting tech-savvy Generation Z consumers and underserved micro, small, and medium enterprises (MSMEs), according to CEO Raja Teh Maimunah. As one of

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Seedflex Expands Footprint to Malaysia With Seed Funding From 500 Global

Singapore-based fintech Seedflex Technologies has launched a new digital financing solution, “Pay-As-You-Sell Advance” (PAYS Advance), in Malaysia, with plans to expand across Southeast Asia. The initiative, supported by seed funding from venture capital firm 500 Global, targets micro, small, and

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EPF Divests Shares in Affin Bank, No Longer a Major Shareholder

The Employees Provident Fund (EPF) has divested three million shares in Affin Bank, relinquishing its status as a substantial shareholder, according to The Edge Malaysia.¬†Financial details concerning the transaction’s value remain undisclosed. Prior to this sale, EPF held 121.91 million

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CIMB Group CEO Dato’ Abdul Rahman Resigns, Poised to Take Helm at PNB

CIMB Group announced that Dato’ Abdul Rahman Ahmad will resign as Group CEO effective 30 June 2024, concluding a four-year tenure. The group said that it had a robust succession plan is in place and will announce Dato’ Abdul Rahman’s

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RHB and Boost Holdings Collectively Invest RM9.5 Million in Digital Bank

RHB Bank has announced an investment of RM3.8 million to purchase 3.8 million new shares in Boost Bank, in order to maintain its 40% stake in the digital bank. This transaction was funded by the incumbent bank’s internally generated funds.

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Travel Insurance Starting at RM3/Day Now Available on Shopee

SeaMoney, the financial arm of Sea Limited, has expanded its insurance offerings in Malaysia by launching a new travel insurance product available through the Shopee platform, in partnership with Allianz General Insurance Malaysia. This new offering, accessible via Shopee, starts

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BNM Orders CIMB and Maybank to Explain Recent Service Disruptions

Bank Negara Malaysia (BNM) has ordered CIMB and Maybank to deliver a comprehensive account of the root causes behind the recent service outages, which disrupted banking operations and inconvenienced customers. The regulatory body is taking a strict stance on ensuring

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Unmasking the Deepfake Scam Threat in the Financial Sector of Asia

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. This burgeoning technology, characterised by its ability to create indistinguishably fraudulent audio

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