Author: Fintech News Malaysia

CTOS Digital Berhad has appointed Ming Yew Tan as its new Group Chief Financial Officer, effective 13 October 2025. Ming Yew has more than two decades of experience in financial leadership, spanning banking, payments, and fast-moving consumer goods. Prior to joining CTOS, he served as Managing Director of Finance and Operations at Bank Pembangunan Malaysia Berhad and previously held senior roles at Payments Network Malaysia (PayNet) and AmBank Group. He has led initiatives in transformation, automation, and strengthening financial governance across his previous roles. Ming Yew said, “I am honoured to join CTOS at this exciting juncture. I look forward…

Prime Minister Datuk Seri Anwar Ibrahim has led the launch of the National Strategy for Financial Literacy 2026–2030 (NS2.0), outlining Malaysia’s renewed commitment to improving financial awareness and inclusion nationwide. Themed “Shaping a Resilient Financial Future,” the five-year strategy builds on the first National Strategy for Financial Literacy introduced in 2019 and aims to equip Malaysians with the skills to manage money wisely, safeguard against financial shocks, and prepare for long-term stability. It outlines five strategic priorities to strengthen financial well-being and introduces a new Monitoring and Evaluation Framework with clear KPIs and measurable targets to ensure transparency and accountability.…

Just days before the LexisNexis Risk Solutions Risk Ready 2025 panel discussion took place, Bank Negara hit several banks with RM5 million in fines for AML-related breaches.   It reminded all of us that financial crime is not slowing down, and (luckily) at the same time, regulators are watching. But beyond the numbers and enforcement actions, the bigger question lies in how truly prepared the industry really is to deal with what’s coming next.   During the panel, speakers from LexisNexis Risk Solutions, alrajhi bank, and PayNet shared insights from the front lines of compliance and fraud prevention in Malaysia.   The discussion…

Asia’s financial sector is on track to reach US$415.42 billion by 2033, a growth story no global player can afford to ignore. Yet, for many banks, fintechs, and professional firms, that promise quickly turns into a maze of regulators, unpredictable tax regimes, and mounting compliance costs. The result is delayed launches, higher operational costs, and investors asking why go-live dates keep shifting. This is the jurisdiction conundrum, where every quarter spent navigating is lost to competitors who are already live, while tax outflow chips away at margins. But what if you could launch a regulated digital bank, issue a token,…

Soft Space has been named among 20 Asian startups chosen by the Tokyo Stock Exchange, making it one of only two companies from Malaysia in the annual programme. The Asia Startup Hub supports startups with ties to Japan, providing assistance on partnerships with Japanese corporations, fundraising and long-term expansion. It also offers guidance that may include exit options and IPO readiness, positioning participants for more sustainable growth. Soft Space’s selection reflects its established presence in Japan, where it has introduced a SoftPOS solution that supports stablecoin payments and launched Tap to Pay on iPhone through the stera tap app. The…

MUFG has partnered with AEON Credit on a RM500 million social loan designed to bolster financial inclusion. The deal is Malaysia’s largest social loan to date and marks MUFG’s first of its kind in the country. It also represents the fourth sustainable finance transaction between MUFG and AEON Credit in the Asia Pacific region. The financing will support AEON Credit’s efforts to extend credit to underserved groups, including low-income households and small businesses in new growth areas, in line with Bank Negara Malaysia’s Financial Inclusion Framework 2023–2026. The initiative is guided by AEON Credit’s enhanced three-year sustainability roadmap, which places…

Maybank has reshuffled its top leadership, appointing Mohamad Yasin Abdullah as group CEO of Islamic Banking and CEO of Maybank Islamic, effective 1 October, according to The Star. In his new role, Mohamad Yasin will oversee Maybank’s Islamic finance operations, including business strategy, product development, innovation and Shariah compliance. He will report to Maybank president and group CEO Datuk Seri Khairussaleh Ramli and join the group executive committee. Mohamad Yasin currently serves as group chief audit executive, where he introduced the Maybank Group Audit Strategic Plan 2023–2025 (GRASP25). The initiative has strengthened the bank’s audit framework through global best practices…

Setel will enable Malaysians eligible for the BUDI MADANI RON95 (BUDI95) programme to access the subsidy through its platform from September 30. Users will be able to complete a one-time verification within the app, removing the need for manual MyKad checks at each transaction when refuelling at more than 1,000 PETRONAS stations. Following verification, customers may also use existing features in the Setel ecosystem, such as one-tap fuelling, which allows pump activation from inside the vehicle, and Setel Lite, designed for older mobile devices. Transactions through the app also accrue Mesra Rewards points. Abdullah Ayman Awaluddin, Chief Executive Officer of…

The Asia-Pacific region is approaching a milestone in cross-border payments: though fully achieving instant, efficient international money movement remains a goal. Domestic payment systems have progressed with real-time rails, QR codes and digital wallets. However, cross-border transactions still face high costs, long settlement times, inconsistent experiences and increased fraud risks. Amid sustained trade growth and digital economic expansion, establishing seamless cross-border payment infrastructure is now imperative. To address these challenges, LexisNexis Risk Solutions and the Singapore FinTech Association (SFA) published a white paper, The Journey Towards Frictionless Cross-Border Payments in APAC. The report leverages industry insight to identify persistent barriers…

e-pay by NTT DATA has moved its Sarawak operations to a new office in Kuching, signalling its ongoing focus on retail partners and customers across East Malaysia. The new premises are located at SL3, 1st Floor, Lot 6912, Block 225 KNLD 143 Jalan Tan Sri Datuk Amar Wee Boon Ping, 93250 Kuching. The relocation strengthens the company’s presence in East Malaysia and supports its efforts to serve retail partners and customers in the region. e-pay by NTT DATA provides prepaid reloads, bill payments, e-wallet top-ups, game credits and other electronic payment services through a single device. It serves thousands of…

Crypto exchange Luno convened over 300 regulators, institutional fund managers, financial advisors and Web3 innovators for Malaysia’s first flagship institutional digital asset conference. The Luno Institutional Digital Asset Conference (LIDAC) examined the role of digital assets in institutional portfolios, including their impact on diversification, compliance and risk management within Malaysia’s regulated market. Speakers mapped the global momentum of institutional adoption and underscored Malaysia’s local advantages, including its progress in Islamic fintech. Luno CEO James Lanigan described digital assets as a versatile, institutional-grade asset class and pointed to Luno’s collaborations across Malaysia’s financial ecosystem. Securities Commission Malaysia’s Dr Wong Huei Ching…

Bank Negara Malaysia (BNM) has taken enforcement action against two financial services companies for violations of anti-money laundering and counter-terrorism financing (AML/CTF) regulations. The central bank fined Alipay Malaysia, now known as AIMY Merchant Services, RM340,000 for failing to update its sanctions database as required under the Financial Services Act 2013 and the AML/CTF and Targeted Financial Sanctions policy. This lapse disrupted the screening of customer accounts and delayed the freezing of funds linked to a listed entity. BNM said the penalty reflected the seriousness of the breach and Alipay’s lack of reasonable care in complying with sanctions screening rules.…

In APAC, online payments are dominated by digital cashless payments. 87% of payments on Southeast Asia’s e-commerce platforms are done using digital payments, as of 2024. When it comes to digital payments, banks and financial institutions face growing pressure to deliver both frictionless user experiences and robust security. Technologies like Click to Pay, Passkeys, and tokenized transactions are emerging as key enablers of trust, convenience, and compliance. In this webinar, we’ll explore: Regional trends in Asia shaping the future of digital payments and E-commerce How Click to Pay is transforming the online checkout experience across digital channels The role of…

M+Global, part of Malacca Securities, has launched Malaysia’s first stockbroking concept store at KL Eco City. The new outlet is designed to give the public access to financial education and face-to-face guidance from licensed investment professionals. It aims to tackle gaps in financial literacy by providing a physical space where people can learn about investing and financial planning. Visitors can explore an experience zone, an investment learning hub, a merchandise section, private consultation areas and interactive displays. The store also plans educational workshops and events featuring financial educators and industry professionals. The first series of talks will begin in October…

TNG Digital, the operator of TNG eWallet, has been tasked with building and operating the infrastructure behind Malaysia’s new Budi95 petrol subsidy, which links fuel retailer apps to government quotas. Treasury Secretary-General Datuk Johan Mahmood Merican confirmed this at a press conference reported by The Edge. Through its wholly owned unit Nadi Tech Sdn Bhd, TNG Digital is developing the central system that underpins the Budi95 scheme. Nadi Tech and TNG Digital are separate entities, and the data are managed separately. This backend platform manages identity verification and quota tracking for millions of Malaysians eligible for the subsidy. Apps such…

CIMB has teamed up with PingPong to enable faster, cheaper and simpler cross-border payments for businesses in the region. The collaboration begins in Malaysia and will gradually expand to Indonesia, Singapore, Thailand and Cambodia, giving companies access to streamlined international transactions and financing options within CIMB’s platforms. Under the agreement, CIMB will use PingPong’s platform to receive payments in more than 20 local currencies through virtual accounts, helping businesses cut cross-border fees and improve cash flow. Companies will be able to hold funds in CIMB’s multi-currency accounts, convert currencies and make or receive payments to and from partners around the…

The Securities Commission Malaysia (SC) has issued the Guidelines on Social Exchange Platforms to pave the way for the country’s first social exchange, which will help non-profit organisations (NPOs) raise funds for eligible social impact projects. The guidelines set out requirements for platform operators and NPOs, including eligibility, disclosure and mandatory reporting to assure donors on how funds are used and the outcomes achieved. According to the SC, the initiative expands the role of Malaysia’s capital market in supporting the country’s third sector and its broader sustainability and inclusion agenda, while instilling greater trust in fundraising by NPOs. The exchange…

Ask anyone who’s gone through the process and they’ll tell you the same story. You find the car, get excited, maybe even imagine the first road trip, then the paperwork hits you like a roadblock. Loan applications mean hopping from bank to bank, filling out the same forms, waiting endlessly for approvals that may or may not come through, all while salespeople keep calling for updates. Car ownership in Malaysia for its citizens has always come with this ritual of stress. What if Buying a Car Didn’t Need Any Paperwork? That’s the question a new platform called Tras is trying…

GXBank is giving Malaysia’s smallest businesses a digital boost with a new business banking platform and lending options. The bank has launched GX Business Banking alongside its flagship Jaguh Niaga Programme to support micro, small and medium enterprises (MSMEs). Initially rolled out for sole proprietors, the platform offers a fully digital way to open and manage business accounts and access financing. GX Business Banking provides two main products. The first is the GX Biz Account, which can be opened online in under eight minutes without physical documents. It has no monthly fees or minimum balance. Account holders earn daily interest…

Stablecoins are quickly evolving from crypto-native assets to credible instruments for mainstream finance. In 2024 alone, stablecoin transaction volumes hit 27.6 trillion, surpassing the combined volume of Visa and Mastercard, according to the World Economic Forum. Signaling significant real-world interest from major players. But are stablecoins here to change finance forever? Join us to find out first-hand this and more at our webinar: What’s behind the rise of stablecoins? What are the potential success factors leading towards its adoption? How stablecoins are being used to make payment rails faster, cheaper, and programmable What banks and fintechs need to consider before…