Posts From Fintech News Malaysia
Boost Bank Receives Nod from BNM to Launch its Digital Bank
Boost and its consortium partner, RHB Banking Group (RHB), received official approval from Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF) to commence operations as a digital bank, with effect from 15th of January 2024. The consortium will
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PolicyStreet Gets Approval From Labuan Regulator for Takaful Operations
Malaysian insurtech company PolicyStreet has received the regulatory nod from the Labuan Financial Services Authority (LFSA) to begin its Takaful and Retakaful operations in the region. By securing the necessary approvals, PolicyStreet is now equipped to reinsure and underwrite Takaful
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Finology Taps IFCA Software to Streamline Property Sales Process
Finology Group, a Malaysian fintech that enables embedded finance, has joined forces with IFCA Software in a bid to improve the property sales experience for both developers and home buyers. The collaboration introduces the integration of Finology‘s digital lending solution, Loanplus
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Touch ‘n Go eWallet Adds Over 40 Countries to Its Remittance Network
TNG Digital has expanded the capabilities of its Touch ‘n Go eWallet to include cross-border remittances to over 50 countries via its GOremit offering. This marks a major step up from its initial offering, which allowed transfers to 10 countries
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Khazanah, CGC Digital Invests in Funding Societies to Bridge RM 90B Funding Gap
Malaysia’s sovereign wealth fund Khazanah Nasional and CGC Digital have made a strategic investment in SME digital financing platform Funding Societies. The sum was not disclosed. The investment is expected to enable Funding Societies to expand its reach beyond beyond
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RHB-PayNet’s Sound Box Delivers Instant Audio and Display Alerts for QR Payments
RHB Bank, in partnership with Payments Network Malaysia (PayNet), has launched the DuitNow QR Plug & Play sound box in a bid to step up payment security. According to RHB, it is the first bank to introduce the device. This
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BNM’s New Personal Financing Policy Defines FIs’ Approach to BNPL Offerings
The Bank Negara Malaysia (BNM) has released a new policy document on personal financing which took effect on 15 December 2023, with the goal of promoting responsible financing practices while discouraging unaffordable borrowing. This policy encompasses Buy Now Pay Later
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Petronas FutureTech Spearheads Startup Advancement in Energy and Beyond
The accelerated energy transition amidst pressing climate concerns has compelled industry players to contribute actionable solutions in driving positive change and sustainable development. Rising up to the challenge, Petronas, a global energy corporation, has significantly expanded its scope beyond traditional
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SC Accelerates ACE Market PLCs’ Entry Into Bursa Malaysia’s Main Market
The Securities Commission Malaysia (SC) has introduced an accelerated transfer process to facilitate the promotion of eligible ACE Market public listed companies (PLCs) to the Main Market of Bursa Malaysia. The framework will take effect on 1 January 2024 through
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Evolving Mobile Threats Brings Rise to New Multi-Layered Applications’ Security Measures
In today’s mobile-centric world, the convergence of mobile devices, applications, and the Bring Your Own Device (BYOD) culture has enabled users, businesses, and organisations to achieve enhanced productivity, flexibility, and convenience. However, this transformation has also exposed individuals and organisations
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