Posts From Fintech News Malaysia

Malaysia and Indonesia Pilots Phase 1 of Cross-Border QR Payment Linkage

Bank Negara Malaysia (BNM) and Bank Indonesia (BI) has launched a cross-border QR payment linkage to enable instant, secure, and efficient cross-border payments between the two countries. Through this linkage, consumers in both countries will be able to make retail

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Boost Sets Its Sights On BNPL and Southeast Asian Expansion Plans for 2022

Axiata Digital’s fintech arm Boost has its sights expanding its suite of services and deepening its regional presence following a year of growth in revenues and product innovation. Boost reported that its user base grew to over 9.6 million and

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Why Risk-Averse Southeast Asian Banks Should Embrace a ‘Multicore’ Approach

The banking industry is in the midst of a period of intense transformation in Southeast Asia, and indeed the world, driven in part by the pandemic, but also influenced heavily by changing consumer demand and fast-moving technological innovation. Predicting the

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MDEC to Funnel Deal Flows to ASEAN Fintech Group Through New Partnership

The Malaysia Digital Economy Corporation (MDEC) has partnered with the ASEAN Fintech Group (AFG) with aims to enhance initiatives aimed at scaling up Malaysian fintech companies. Their collaborative efforts will focus on three key areas, namely deal flows, fintech ecosystem

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Al Rajhi Malaysia Picks Thought Machine to Build its Islamic Digital Bank

Al Rajhi Bank Malaysia has selected Thought Machine, a cloud native core banking technology firm, to power their upcoming “next-generation digital bank”. The bank had embarked on a multi-year digital transformation in 2021 and will deploy Thought Machine’s core banking

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Funding Societies Malaysia Surpasses RM1 Billion in Financing Disbursement

SME digital financing platform Funding Societies Malaysia, announced that it has disbursed RM1 billion in financing to micro, small and medium enterprises (MSMEs) across more than 17,000 financing deals. This milestone comes as the platform enters its fifth year of operations

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HSBC Rolls Out Multi-Currency Global Wallet for Malaysian SMEs

HSBC Malaysia has launched a multi-currency digital wallet that enables small-and-medium enterprises (SMEs) to make and receive international payments from one single global account. The HSBC Global Wallet is fully integrated within the bank’s existing business banking platform, HSBCnet, and

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Versa Surpasses Over RM 100 Million in Transactions in Less Than a Year

Versa Asia, a Malaysian digital cash management platform, announced that it has achieved over RM 100 million in transactions. The firm has also witnessed the creation of over 30,000 accounts on its platform in less than a year after the

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Why Malaysia’s New Digital Banking License Matters

As Malaysia prepares to hand out its first digital banking licenses, fintech innovators, incumbent banks and tech providers are sharing their views and predictions on what the industry will look like following this major liberalization push. Speaking with Fintech News

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Earned Wage Access Platform Paywatch Bags US$5.25 Million in Seed Funding

Earned wage access (EWA) service provider Paywatch has raised US$ 5.25 million in a seed funding round led by US venture capital firm Third Prime and prominent family offices in Singapore and Hong Kong. Operating in South Korea, Malaysia and

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