Author: Fintech News Malaysia

YTL AI Labs has appointed Grab’s former first engineer and ex Chief Technology Officer of GXBank, Fadrizul Hasani, as its Chief Solutions Officer. His departure from GXBank follows a 14-year tenure within the Grab ecosystem, where he was a foundational member of the technical team that scaled the company into a regional platform. GXBank has since named Nishant Sharma as its new CTO. In his new role at YTL AI Labs, Fadrizul will focus on engineering sovereign AI platforms and production systems specifically designed for the Malaysian market. He will be working alongside a leadership team that includes Chee Mun…

The US$2.5 trillion SME credit gap in the Asia Pacific remains a significant challenge for traditional banks. Joe Udomdejwatana of Axe Finance joins us to discuss how the Axe Credit Portal (ACP) is transforming lending infrastructure. Key Highlights Composable architecture avoids high-risk “rip and replace” projects. Tools like Axe Studio and Axe BPM empower compliance officers to manage regulatory shifts. Predictive scoring with explainability models replaces “black box” AI with a transparent “glass box” approach. Lending 3.0 focuses on “intelligent adaptability” to process data in real time.

The Securities Commission Malaysia (SC) has appointed LC Wakaful Digital (LCWD) as Malaysia’s first Social Exchange Platform operator. The Social Exchange forms part of the Capital Market Masterplan 2026–2030 (CMP). It aims to widen access to social impact financing. The platform will allow non-profit organisations to raise donations for eligible social projects through a structured and transparent system. Donors will gain clearer visibility over fund use and project outcomes. SC Chairman Dato’ Mohammad Faiz Azmi said the appointment marked an important step. He said it would help build a market-based and well-governed framework for social finance. “With the Social Exchange,…

The global rate of identity fraud decreased in 2025 from the previous year’s high, but the threats have become more severe. Fraud isn’t retreating, it’s maturing. The sloppy, low-effort attacks that thrived in 2024’s era of widely available tools are being replaced by fewer but sharper operations: multi-step, coordinated, and built to bypass basic verification. Sumsub, a global verification and fraud prevention firm, have identified this Sophistication Shift, signalling that the next stage of identity fraud won’t be measured by volume alone. Why attackers are leveling up Behind the numbers is a change in criminal behavior. When simple tactics stop…

Cash trust schemes investing in capital market products are set to face clearer licensing requirements under a new Securities Commission Malaysia framework, according to a report by The Edge. The Ministry of Finance said in a written parliamentary reply that the regulator is finalising the framework to clarify when such schemes require a licence. The initial phase will cover capital market-related activities. The move forms part of efforts to strengthen regulatory oversight. Cash trust schemes are managed by trust companies registered with the Companies Commission of Malaysia under the Trust Companies Act 1949 and governed by the Trustee Act 1949.…

CIMB has received approval from Bank Negara Malaysia (BNM) to begin bank-grade tokenisation trials under its Digital Asset Innovation Hub. The programme allows the bank to test regulated digital asset payment and settlement use cases within a supervised framework that sets governance, risk management and compliance safeguards. CIMB will explore tokenising its own sukuk issuances and assess how tokenised deposit representations can support end-to-end issuance, transfer and settlement workflows within approved testing parameters. BNM recently announced parallel initiatives under the hub, including tokenised deposit testing with Maybank, while Standard Chartered and Capital A are exploring ringgit stablecoins for wholesale payment…

Cross-border payments platform XTransfer said it plans to establish a regional compliance centre in Malaysia, outlining the move at Forum Ekonomi Malaysia 2026. Founder and CEO Bill Deng spoke on a panel on accelerating technology applications and innovation under the 13th Malaysia Plan alongside Deputy Finance Minister Liew Chin Tong and SkyeChip Senior Director of Engineering Ooi Ching Liang. The discussion examined ways to strengthen high-growth industries and support MSMEs in global value chains. Deng said many Malaysian SMEs are able to export but struggle to scale due to operational and compliance hurdles. He cited payment delays, repeated documentation checks,…

Hong Leong Bank has revamped its Priority segment to adopt an advisory-led wealth management model for high net-worth clients. The shift moves the unit away from product-based priority banking toward long-term stewardship focused on preservation, income, growth, diversification and legacy. The refreshed HLB Priority combines financial solutions with personalised advisory and lifestyle privileges. The move builds on the bank’s alliance with Lombard Odier and the expansion of its Shariah-compliant wealth offering under Hong Leong Islamic Bank. The bank said the segment forms part of its three to five-year transformation plan, with regional wealth management positioned as a key driver of…

Maybank has begun testing ringgit tokenised deposits for cross-border payments on a blockchain platform under Bank Negara Malaysia’s Digital Asset Innovation Hub. The pilot involves energy infrastructure group Yinson Holdings Berhad. The bank will explore on-chain cross-border transactions using ringgit and other ASEAN deposit tokens on the bank’s permissioned blockchain network. This will assess the technical feasibility and operational readiness of executing secure near real-time transactions. It will also contribute to the development of next-generation payment infrastructure. BNM just announced that it is also testing tokenised deposits with CIMB, while Standard Chartered and Capital A are exploring ringgit stablecoins for…

Bank Negara Malaysia (BNM) will test ringgit stablecoins and tokenised deposits for wholesale payment use cases this year after onboarding three initiatives under its Digital Asset Innovation Hub (DAIH). The projects will examine domestic and cross-border payment scenarios, including the settlement of tokenised assets. Standard Chartered and Capital A will explore ringgit stablecoins for business-to-business settlement, while Maybank and CIMB will test tokenised deposits for payments. The trials will be conducted in a controlled environment and involve collaboration with ecosystem partners, including corporate clients of financial institutions, the Securities Commission Malaysia and Khazanah Nasional. Certain use cases will also assess…

Axiata has announced the appointment of Nik Rizal Kamil Nik Ibrahim Kamil as Group Chief Executive Officer (GCEO) and Managing Director, effective 1 June 2026. He will succeed Vivek Sood, who has led the Group since 2023. Nik Rizal joined Axiata in January 2024 as Group Chief Financial Officer. He has experience in business finance, investments, and accounting, and currently sits on the boards of several Axiata companies, including CelcomDigi, PT XLSMART Telecom Sejahtera, Robi Axiata, EDOTCO Group, and Link Net. Before joining Axiata, Nik Rizal was Group CFO at RHB Bank from 2021, and previously served as Executive Director,…

Asia-Pacific’s fintech market is the most dynamic and fragmented in the world. While legacy banks struggle to keep up with shifting regulations and local payment rails, one European powerhouse is making a massive bet on the region. Gabriel, Stefanak, Business Development Head, Decta, breaks down why the current “fragmented” vendor stack is a ticking time bomb for financial institutions and how DECTA’s “Full-Stack” model, owning everything from issuing to acquiring, is their ultimate moat for entering APAC.

Embedded credit startup Seedflex is preparing to raise a Series A round of US$6 to US$8 million later this year, as its Malaysia operations turn profitable and the company looks to scale beyond its core market. Founder and CEO Ritwik Ghosh told DealStreetAsia that Seedflex became profitable in Malaysia in the third quarter of 2025, roughly 18 months after launch, and has remained so since. The company provides cashflow-based credit to MSMEs through payment and commerce partners. Ghosh said the upcoming Series A is driven by growth opportunities rather than financial pressure. “This is not about the runway or survival.…

ShopeePay has announced the launch of Zurich Wallet Protection, provided by Zurich General Insurance, on the ShopeePay and Shopee apps. Starting from RM1.40 per month, the plans offer coverage for ShopeePay and other bank accounts, e-wallets, and card payments against risks such as fraudulent transfers, unauthorised transactions, phishing, impersonation, card misuse, and online shopping fraud. The launch comes amid rising fraud-related crimes in Malaysia. Alain Yee, Chief Executive Officer of ShopeePay Malaysia, said: “While we actively educate our users on how to stay safe online, it’s equally important to offer a last layer of protection that is both affordable and…

India’s Unified Payments Interface (UPI) system is set to enter the Malaysian market, as the two countries continue to strengthen their longstanding economic ties, said Indian Prime Minister Narendra Modi. “The Malaysia-India Digital Council is paving new pathways for our digital collaboration. I am happy to share with you that India’s UPI will come to Malaysia soon,” The intention for UPI to enter Malaysia was first expressed in August 2024. Modi said while addressing the Indian diaspora at a reception in Kuala Lumpur on February 7, according to The Star. He noted that nearly half of the world’s real-time digital…

Malaysian entrepreneur Arsyan Ismail has sold the domain AI.com for US$70 million, approximately RM276 million, in a transaction paid entirely in cryptocurrency. The sale represents the highest disclosed price for a domain name to date, surpassing the US$49.7 million paid for CarInsurance.com in 2010. Kris Marszalek, the CEO of Crypto.com, acquired the domain in April 2025 through broker Larry Fischer. Marszalek plans to launch a consumer artificial intelligence platform under the AI.com brand, which is expected to debut during a Super Bowl LX commercial this weekend. The new site will feature personal AI agents designed to help users perform tasks…

Bank Negara Malaysia (BNM) has received approximately 30 to 35 applications regarding stablecoin and digital asset innovations. BNM Governor Datuk Seri Abdul Rasheed Ghaffour stated that several projects, including ringgit-based stablecoin initiatives, are currently undergoing testing within regulatory sandbox arrangements. These tests occur under BNM’s Digital Asset Innovation Hub, a platform providing industry players with the regulatory flexibility needed to trial financial solutions. Speaking at the Forum Ekonomi Malaysia 2026, Abdul Rasheed emphasised that stablecoins and digital assets will likely remain permanent fixtures of the financial ecosystem. “In terms of stablecoins, of course, this is something that we see movements…

Bank Islam Malaysia Berhad has announced the appointment of YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz as its new Group Chief Executive Officer, effective 1 April 2026. She replaces Dato’ Mohd Muazzam Mohamed, who retired in December 2025 after a decade with the Group. Raja Teh Maimunah brings 30 years of experience in the financial sector to the role. She previously left her role as the founding CEO of AEON Bank (M) Bhd, where she oversaw the launch of the first Islamic digital bank in Malaysia. Raja Teh Maimunah previously held high-level positions at several major financial institutions,…

Malaysia is developing a new insurance scheme to provide social security protection for citizens working in Singapore. Human Resources Minister Datuk Seri R. Ramanan stated that the initiative aims to cover approximately 400,000 Malaysians who commute daily from Johor. The scheme specifically addresses the lack of coverage during the period when workers travel between their workplace and home. “Workers should not be victimised simply because they are working in Singapore,” Ramanan noted. He emphasised that Malaysian citizens deserve consistent standards of safety and care, regardless of where they work. This project has been a primary focus for the minister since…

microLEAP is increasing awareness of SARANA, a scheme designed to support local contractors and SMEs. SARANA assists businesses executing Federal Government projects awarded through the e-Perolehan system by providing essential working capital. In 2025, microLEAP disbursed RM295 million across 341 Investment Notes, representing a year-on-year growth of over 135%. The platform has now financed a total of RM545 million since its inception while maintaining a default rate of 0.30%. These figures suggest a maturing reception for P2P financing within the Malaysian market. SARANA addresses structural gaps where contractors often face cash flow challenges during mobilisation and procurement. Unlike traditional banking…