Author: Fintech News Malaysia

Alexander Wong Tuck Meng has been appointed Chief Executive Officer (CEO) of KiplePay. Wong will lead the company as it focuses on strengthening its existing business and developing new payment and financing solutions for Malaysian companies. “My focus is straightforward. Strengthen what we already do well, build the next generation of payment and financing solutions for Malaysian businesses, and do it with discipline and sound governance,” he said in a LinkedIn post. KiplePay is a licensed e-money and payments infrastructure provider regulated by Bank Negara Malaysia. The company operates the Kiple e-wallet and provides payment services to businesses and institutions.…

Banks in Malaysia will no longer charge a RM1 fee for interbank cash withdrawals at ATMs and Smart Recycler Machines from 1 July 2026. The waiver will cover Malaysian debit cardholders using machines operated by any bank in the country, giving them free access to more than 14,000 locations nationwide. The move was announced jointly by the Association of Banks in Malaysia (ABM), the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), and the Association of Development Finance Institutions of Malaysia (ADFIM). The initiative is being implemented with Payments Network Malaysia Sdn Bhd (PayNet). The banking groups said the…

OCBC Malaysia is using Singpass to simplify account applications for business owners from Singapore, extending the option to both citizens and permanent residents, according to The Edge. The move targets companies with links to both sides of the Causeway, as more Singapore-based entrepreneurs look to set up or grow operations in Malaysia. The process allows the bank to verify applicants remotely during account opening, which OCBC said could cut the wait from roughly three weeks to about five working days. The rollout comes as business activity between Singapore and Malaysia is expected to increase with the Johor-Singapore Special Economic Zone.…

A new report sets out how Malaysia’s financial sector can factor nature-related risks and opportunities into risk management, strategy and capital allocation. Bank Negara Malaysia, the World Bank Group and the United Nations Development Programme Biodiversity Finance Initiative released the report, titled A LEAP for Nature: Advancing Nature-related Financial Risk and Opportunity Assessment in Malaysia. The report examines how financial sector activities depend on nature and affect natural ecosystems. It also looks at how financial institutions and companies are assessing nature-related risks and opportunities. It provides recommendations for financial institutions, firms and public sector bodies to improve how they identify…

Generative AI is making fraud more convincing and easier to scale. Reports of Gen AI-enabled scams rose 456% between May 2024 and April 2025, while deepfake activity is also rising sharply in APAC. Banks and fintechs across APAC are under growing pressure to tighten fraud controls and strengthen identity checks. This webinar brings together fraud and risk leaders to discuss how financial institutions are responding, including the use of stronger biometric checks and advanced liveness detection. The growing impact of deepfakes in Singapore and across APAC Exploring advanced technologies as fraud prevention grows more complex Striking the right balance between…

CIMB has signed a Letter of Intent (LOI) with China CITIC Bank to improve financial connectivity between China and the ASEAN region. The agreement focuses heavily on Malaysia and Indonesia, aiming to support bilateral trade, cross-border financing, and regional investment flows. The two banks will provide corporate clients with a suite of banking products covering trade transactions, payments, and expansion financing. The collaboration will draw on China CITIC Bank’s domestic network and CIMB’s operations across Southeast Asia. A core focus of the partnership is foreign currency and Chinese Yuan Renminbi (RMB) payment and clearing. This includes potential access to China’s…

The Securities Commission Malaysia (SC) and Bursa Malaysia are encouraging listed companies to publish clearer value creation plans under the MY Value Up programme. The MY Value Up Programme Guidebook was launched at the Invest Malaysia Kuala Lumpur Conference 2026 by Deputy Prime Minister Dato’ Seri Dr Ahmad Zahid Hamidi. The programme was introduced by SC and Bursa Malaysia in April as part of the Capital Market Masterplan 2026-2030. It encourages public listed companies to set out their growth strategies, targets and capital allocation priorities more clearly, while strengthening board-level focus on value creation and investor engagement. The guidebook gives…

AI is getting better at helping us shop. The next step is much bigger: making payments on our behalf. That sounds convenient, but it also raises some important questions. Who is really in control? What happens when an AI agent makes a mistake? And how can banks, merchants, and regulators trust transactions that are no longer initiated directly by humans? In this episode, Lionel Grosclaude, CEO of Fime, joins Fintech News Network to discuss the rise of agentic commerce and why trust may become the most important layer in AI-driven payments. The conversation explores Fime’s recently launched FACT (Framework for…

NTT DATA has expanded its collaboration with Google Cloud to help enterprises move AI projects from pilots to production. The collaboration will use Gemini Enterprise to develop agentic AI solutions. It will combine Google Cloud’s AI, data and cloud capabilities with NTT DATA’s consulting, implementation and managed services. NTT DATA will establish a dedicated global Gemini Enterprise practice and aims to certify 5,000 experts worldwide. The practice will support clients across strategy, deployment, adoption and managed services as they embed AI into business workflows. The companies also plan to co-develop and deploy up to 500 AI agents for enterprise use…

Alibaba Cloud has opened two new data centres in Johor, marking its largest infrastructure presence in Southeast Asia to date. The new public cloud region brings Alibaba Cloud’s data centre footprint in Malaysia to five facilities. The company first established a twin data centre presence in the country in 2017 and added a third facility last year. The expansion is part of Alibaba’s previously announced US$53 billion investment in AI and cloud infrastructure in 2025. Globally, Alibaba Cloud now operates 104 availability zones across 32 regions. Expanding AI-ready infrastructure in Malaysia The Johor facilities will offer cloud services covering compute,…

Maybank has upgraded Maybank2E with online onboarding and digital account opening features aimed at simplifying business banking for SMEs. The new Maybank2E platform brings cash management, trade finance and foreign exchange services into one regional business banking platform. It is available through the web and the M2E Biz app, and serves SMEs, mid-sized businesses and larger corporates. Businesses can manage transactions, payments and banking services through one login. The platform also includes a single activation dashboard for selecting multiple services, with remote activation through the app. Users can view cash and trade positions across markets, lock in foreign exchange rates…

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…