TNG Digital has expanded access to Amanah Saham Malaysia 3 through GOfinance in TNG eWallet. This allows new Amanah Saham Nasional Berhad (ASNB) investors to subscribe to the fund within the app. The initiative is part of TNG Digital’s exclusive partnership with ASNB, under which it operates as one of ASNB’s digital agents. Investments start from RM10. GOfinance allows users to register for an ASNB account and view existing account information, including ASNB Bijak dependent account details. Users can also subscribe to new funds, invest in existing funds and set up automated weekly or monthly recurring investments through Auto Labur.…
Author: Fintech News Malaysia
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CTOS has appointed Ankur Sehgal as Group Chief Executive Officer (GCEO), effective 3 March 2026. Ankur has 20 years of leadership experience in digital banking, product and strategy, retail credit, risk management, and data and analytics. He has worked across Singapore, Malaysia, the Philippines, Vietnam, Cambodia, and the United States, with a track record in building digital businesses, scaling financial institutions, and developing risk management frameworks and credit ecosystems. He currently serves as Senior Managing Director, Digital Business at CIMB Bank Malaysia and sits on the Board of Directors of CIMB Bank Cambodia, where he oversees the bank’s regional digital…
Capital A and Standard Chartered Malaysia have signed a Letter of Intent (LOI) to explore the development and testing of a Ringgit (MYR)-denominated stablecoin through Bank Negara Malaysia’s (BNM) Digital Asset Innovation Hub (DAIH). The collaboration marks Capital A’s first major move into regulated digital assets. It combines Standard Chartered’s infrastructure and financial capabilities with Capital A’s wider ecosystem. Together, they will examine wholesale digital asset use cases. Under the LOI, Standard Chartered Malaysia would act as the issuer of the potential MYR stablecoin. The bank will oversee its conceptualisation, testing, and delivery. Capital A and its group of companies…
Bank Islam Malaysia has introduced a Payment to Voice feature in its BIMB Biz app to improve digital payments for small and micro businesses. The tool provides real-time voice alerts for every successful DuitNow QR transaction at no cost and without requiring devices such as a soundbox. It aims to reduce missed notifications, lower operating costs and strengthen confidence in digital payments. Group Chief Business Officer for Retail Banking Mizan Masram said it supports the bank’s goal of offering relevant and inclusive solutions for business customers. Payment to Voice allows up to five cashiers to receive transaction alerts on existing…
Payments Network Malaysia (PayNet) has completed the second cohort of Program Akar, preparing 50 AWS-trained graduates for Malaysia’s financial services industry. Program Akar Powered by AWS re/Start, delivered through World Education Placement Services (WEPS), offers no-cost cloud and digital payments training to help close Malaysia’s digital skills gap and support pathways into the financial sector. The initiative aligns with the government’s push for stronger digital capabilities, highlighted by Prime Minister Datuk Seri Anwar Ibrahim, who noted that multinational companies now expect young Malaysians to build skills beyond the traditional academic syllabus. “The future of the industry depends on a strong,…
A Ringgit-backed stablecoin issued on Zetrix is now live in Johor as Malaysia expands trials for regulated digital asset products. Bullish Aim Sdn Bhd, chaired and owned by Tunku Ismail Ibni Sultan Ibrahim, the Regent of Johor, has launched RMJDT on the Layer 1 blockchain that underpins the Malaysia Blockchain Infrastructure. The rollout takes place under the national digital asset sandbox. RMJDT is positioned to support cross-border trade settlement and attract more foreign direct investment by offering a blockchain-based representation of the Ringgit. The initiative supports Malaysia’s Digital Asset National Policy and reflects wider global interest in tokenisation. Bullish Aim…
Not long ago, banking in Asia Pacific meant standing in line at a branch, filling out slips of paper, and waiting patiently for transactions to be processed. Fraud, when it occurred, was relatively visible and often easier to contain, counterfeit notes, forged signatures, or cheque tampering were the risks banks kept a close watch on. Those threats were tangible, localised, and limited in scale. Fast forward to today, and the contrast is striking. Payments move at the speed of a tap, digital wallets are used as readily as cash once was, cross-border transactions settle in seconds, and modern AI agents…
The way we pay has changed more in the past five years than in the previous fifty. But as real-time payments become the global standard, the industry is entering a new phase. In this interview, Fintech News Network’s Vincent Fong sits down with Hasan Khan, Business Head for Cards & Unsecured Lending at Trust Bank, to unpack what The Next Chapter in Payments looks like. They discuss why the industry’s obsession with “speed” is shifting toward “strategic friction” to combat the $4 billion lost to scams in Singapore. Hasan also reveals how Trust Bank utilizes cloud-native infrastructure to achieve the…
A new joint initiative has been announced by Alibaba Cloud and the Malaysia Digital Economy Corporation (MDEC). The project aims to accelerate digital adoption among small and medium enterprises (SMEs) in Malaysia through its specific design Launched on 8 December 2025 in Kuala Lumpur, the SME Digitalisation Program addresses a critical national priority. The programme focuses on enabling businesses to utilise artificial intelligence (AI) and cloud computing technologies. Alibaba Cloud and MDEC developed the programme to support MDEC’s Business Digitalisation Initiative (BDI). It addresses national priorities outlined in the 13th Malaysia Plan (13MP), recognising the central role of MSMEs in…
RHB Banking Group has introduced a new Shariah-compliant financing facility aimed at assisting Malaysian families with the costs of tertiary education. Launched on 8 December, the “RHB Education Financing-i” is structured under the Commodity Murabahah concept. The facility offers financing amounts ranging from RM10,000 to RM500,000, designed to cover tuition fees and related expenses for undergraduate, postgraduate, and professional programmes. The scheme caters to both students and working adults. To facilitate repayment, the financing provides a tenure of up to 20 years or until the applicant reaches the age of 70, whichever comes first. A central feature of the product…
MBSB Bhd has announced a partnership with Santander Group’s Navigator Global to provide its small and medium enterprise (SME) customers with free access to an international trade platform. The initiative, valued at RM1,800 per customer, aims to assist Malaysian SMEs in expanding into global markets. Launched on Wednesday, the collaboration offers SMEs access to Navigator Global’s digital suite of trade tools. These include customised market-entry action plans, real-time market intelligence, and a network of verified international partners. The platform helps businesses navigate the regulatory and informational barriers associated with international trade. Tengku Datuk Seri Zafrul Abdul Aziz, the outgoing Minister…
The Construction Industry Development Board (CIDB) has introduced a new multi-functional digital green card for construction workers in Malaysia. This innovative solution integrates identity verification, site attendance, and wage management into a single platform. Works Minister Datuk Seri Alexander Nanta Linggi officiated the initiative, which aims to modernise workforce oversight and reduce the sector’s reliance on cash and physical documentation. “Workers no longer need to rely solely on cash or physical documents,” Nanta Linggi stated during the launch. “Their identity, attendance, and wages can now be managed digitally.” A central feature of the new card is the ‘e-Wages’ system, which…
Merchantrade Asia Sdn. Bhd. has been officially recognised as an Approved Issuer of a Designated Payment Instrument (DPI) for the state of Sabah. Effective 1 December 2025, the mandate allows employers in the state to utilise Merchantrade’s digital platforms to manage wage payments for foreign employees in compliance with the Labour Ordinance of Sabah. Merchantrade received approval for Peninsular Malaysia back in August 2024, and this latest update complements that earlier milestone. Employers can now credit salaries directly into workers’ “Merchantrade Money” e-wallets through a dedicated payroll portal. This system provides a modern alternative to the traditional reliance on cash…
RHB Banking Group will extend operating hours across its branches and premier locations in Malaysia starting 1 January 2026. From next year, branches in all states except Kelantan and Terengganu will operate from 9.15 a.m. to 5.00 p.m. from Monday to Thursday, compared with the current closing time of 4.15 p.m. Friday hours remain unchanged at 9.15 a.m. to 4.15 p.m. In Kelantan and Terengganu, branches will open from 9.15 a.m. to 5.00 p.m. between Sunday and Wednesday. Thursday hours remain at 9.15 a.m. to 4.15 p.m. Branches located in shopping malls will continue operating based on mall requirements. “This…
Bank Negara Malaysia (BNM) has begun planning a gradual reduction of its shares in PayNet, the Ministry of Finance (MOF) said in a parliamentary response. The central bank currently holds 35.5 percent of PayNet, making it the largest shareholder. As part of its oversight responsibilities, BNM sets the company’s mandate to deliver accessible and efficient digital payment services while ensuring strong operational resilience across the industry. According to a Bernama report, the intention behind the planned adjustment to BNM’s ownership is to open the door for broader industry participation in the national payments operator. MOF said this approach supports efforts…
GXBank said its Malaysian operations are not affected by the layoffs announced by its parent group. The clarification follows news that GXS is laying off 82 employees, or about 10 percent of its total workforce, with the cuts taking place in Singapore and India after a group-wide review. The bank said it is adequately staffed and has evolved organically into the structure needed for its current stage of growth. GXBank said in a statement, “The management takes a long term prudent view to ensure we have the right talent in place for the sustainable growth in Malaysia.” The broader review…
Ryt Bank’s AI-driven digital banking platform runs on Alibaba Cloud, a setup that supported the bank’s launch and infrastructure build-out in Malaysia. The collaboration, announced at Alibaba Cloud AI Day in Kuala Lumpur, supported the bank’s rapid deployment of its core systems within six months and underpins its digital onboarding process, which allows customers to open an account in two minutes. The platform is built on Alibaba Cloud’s local infrastructure and secure architecture, which helps the bank operate in line with regulatory requirements. Alibaba Cloud provides Ryt Bank with data resiliency, operational continuity and robust cyber protections. The cloud setup…
MDEC and Ant International are expanding their partnership to speed up digital adoption among Malaysian MSMEs. The new MoU will see Ant International roll out EPOS, the all-in-one SME platform under its Antom unit. EPOS brings together payments, multi-channel online store deployment, operations management, digital banking features, growth tools and AI-driven capabilities in a single system designed to give small businesses faster access to digital solutions and data insights. MDEC will back the rollout by engaging MSMEs, industry bodies and ecosystem partners, and by leading outreach, training and co-developed programmes under its national digitalisation agenda. The collaboration builds on earlier…
Malaysia’s five operational digital banks now serve 1.97 million customers and together hold RM3.1 billion in deposits as at September 2025, according to data released in a parliamentary reply and reported by Bernama. The figures reflect the first detailed update on the performance of the new entrants since the rollout of the digital banking framework. The institutions contributing to these numbers are GXBank, AEON Bank, Boost Bank, KAF Digital Bank and Ryt Bank. The Ministry of Finance (MOF) noted that a substantial share of their user base comes from communities that often face hurdles accessing traditional banking services, indicating that…
From navigating ‘irrational’ market incentives to achieving operational profitability, DANA CEO Vince Iswara breaks down the contrarian strategies behind scaling Indonesia’s leading digital wallet to 200 million users. He reveals the critical pivot from high-burn growth to sustainable unit economics and why maintaining an ‘underdog’ mindset was essential for survival.