Ryt Bank has added a Chinese-language option to its app, widening its reach as Malaysia celebrates its national day. The new feature complements the app’s existing Bahasa Malaysia and English versions, aiming to make digital banking more accessible to a broader base of Malaysians. These include a smarter AI system capable of natural language interaction and handling QR payments alongside transfers and bill payments. A new toggle feature will also be introduced to speed up transactions. The app will add a fully integrated JomPAY flow, allowing customers to manage bills and payments in one place. Ryt Bank offers daily interest…
Author: Fintech News Malaysia
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OCBC Malaysia is investing than RM10 million a year into preparing its 5,000-strong workforce for an AI-driven future, rolling out hundreds of courses and new scholarships to sharpen skills. At the launch of its “Grow Your Way with MOBI” flagship event in Kuala Lumpur, CEO Tan Chor Sen said the investment aims to “equip our workforce of more than 5,000 employees with the skills needed to navigate the challenges and seize the opportunities presented by rapid global changes.” He added, “AI is rapidly transforming the world, and OCBC Malaysia is committed to ensuring our people are well-equipped to harness this…
Bank Islam Mastercard Debit and Credit Card-i holders can now add their cards to Google Pay and Samsung Wallet, enabling seamless contactless payments with their Android devices. The new support allows Bank Islam customers to pay in stores or online using their smartphones without carrying a physical card. In conjunction with the rollout, Bank Islam is running a limited-time campaign for Mastercard Credit Card-i users. From 9 September to 31 December 2025, cardmembers who make five transactions using Google Pay or Samsung Pay will receive 2,500 TruPoints, limited to the first 200 participants. Those who reach a cumulative spend of…
From Binance’s first CFO to buying over Coins.PH for double the price from Gojek, this episode’s guest is nothing short of interesting. After building one of the leading licensed crypto exchanges in the Philippines, he’s now got his eyes set on global ambitions but does the Philippines and by extension Southeast Asia have what it takes to build the next crypto powerhouse?
Payments Network Malaysia (PayNet) has announced a leadership transition, confirming that Group CEO Farhan Ahmad will step down from his role on 31 January 2026. Praveen Rajan, currently Chief Consumer Business Officer at CelcomDigi Berhad, has been appointed CEO-Designate effective 1 December 2025. According to PayNet, Farhan has led the organisation since early 2022 through a period of significant growth and transformation. During his tenure, transaction volumes rose 275% from three billion to over eight billion a year, while the DuitNow real-time payments infrastructure was positioned among the most advanced globally. He also oversaw flagship initiatives such as PayNet Cambah,…
Maybank has added a Bangsar South branch to its 473-strong network, introducing a redesigned branch format. The new outlet reflects the bank’s effort to modernise its physical network while maintaining in-person services alongside its growing digital offerings. The Bangsar South branch features open-service areas where staff can assist customers throughout the space, a community area open to the public for events, workshops and collaborations, a Digital Xperience Zone equipped with iPads and Smart Recycling Machines, and a Virtual Room for secure video consultations with Maybank Group Customer Care or product specialists. The bank’s physical network spans conventional and Islamic branches,…
Malaysia is laying the groundwork for a major shift in finance as Bank Negara Malaysia rolls out Open Finance to give consumers greater control over how their data moves between banks and third parties. The initiative is advancing as a strategic enabler for secure, inclusive, and innovation-driven financial services under the country’s broader digitalisation agenda. Open Finance allows consumers to decide what financial information they share, for what purpose, with whom and for how long. The platform being developed by Payments Network Malaysia (PayNet) will enable encrypted, consent-based data flows between financial institutions and third-party providers without storing or viewing…
Fintech is scaling at a pace once unimaginable, bringing millions into the digital economy and redefining how financial services operate. But every leap forward is shadowed by an equally fast-moving wave of fraud. Bad actors are evolving in real time, probing onboarding and transaction flows for exploitable gaps. The rise of GenAI has accelerated this arms race. Fraudsters now wield AI to supercharge attack vectors, from synthetic identity fraud and deepfakes to fabricated receipts and hyper-realistic documents, making scams more convincing, scalable and more challenging to detect than ever before. The Ongoing Dilemma of Synthetic Identity Fraud Synthetic identity fraud…
GXBank has entered into a partnership with the Credit Counselling and Debt Management Agency (AKPK) to promote financial literacy and improve debt management support for Malaysians. The collaboration will provide targeted financial education and expand access to debt management solutions, particularly for gig workers, retail customers and micro, small and medium enterprises (MSMEs). It also includes managing loan repayments for GXBank customers who are enrolled in AKPK’s debt management programme. The initiative comes as many households remain financially vulnerable. According to the RMFLS 2024, six out of ten Malaysians have an emergency fund lasting up to four months, leaving them…
AmanahRaya Trustees Berhad has signed a pact with CoKeeps to pilot digital asset custodian services, a move aimed at preparing Malaysia’s financial system for tokenisation. The partnership brings together ART’s fiduciary and trusteeship expertise with CoKeeps’ role as Malaysia’s first Securities Commission-registered digital asset custodian. It will serve as an experimental platform for tokenisation, focusing on frameworks that are thoroughly tested, secure and scalable. According to both companies, the collaboration will expand ART’s service offerings by integrating certified digital asset infrastructure into corporate and individual solutions. This includes compliant access to local and global verified digital asset products for institutions…
From deepfakes and synthetic identities to real-time manipulation of biometric data, fraudsters are now using AI with a level of speed and precision not seen before. With generative AI projected to drive US$40 billion in fraud losses by 2027, based on estimates for the United States alone, financial institutions must act quickly to strengthen their defences. Fintechs, banks and regulators are under mounting pressure to respond to increasingly sophisticated fraud tactics that continue to evolve. This webinar will bring together fraud and risk leaders to explore: The new face of financial crime with deepfakes, voice cloning, and fraud-as-a-service accelerating across…
Affin Group has appointed Hanif Ghulam Mohammed as CEO of Affin Hwang Investment Bank Berhad, effective 9 September 2025. Hanif has more than 20 years of experience in the banking sector with a focus on treasury. He has served as Executive Director of Group Treasury at Affin Bank since December 2021 and previously held senior roles including Regional Head of Islamic Treasury and Director of Fixed Income, building expertise in debt capital markets and Islamic finance. He is a member of Bank Negara Malaysia’s Financial Markets Committee and chairs the Islamic Financial Markets Subcommittee. Hanif holds a Professional Certificate in…
Malaysian SMEs can now link their RHB Bank accounts directly to Xero through a new API-enabled feed that securely imports daily banking data into the platform. The integration removes the need for manual uploads, reduces errors, and saves time on reconciliations. Business owners will also gain a more accurate daily view of their cash flow and business performance, helping them make better-informed decisions. The feed is currently in beta testing and will be available to all Malaysian Xero users with an RHB bank account from August 2025. It will be offered at no additional cost and can be set up…
Maybank users have been experiencing problems with the MAE app since 8 September 2025, and the disruptions are still ongoing today. According to Lowyat.NET, customers said that transfers, bill payments and Scan & Pay were unavailable despite the app indicating that these services should be accessible. Social media posts show that the issues extend to Secure2U, QR Payments and other transfer functions. In responses to user complaints online, Maybank confirmed that self-transfers to credit cards and loans could not be processed and that temporary limits had been imposed on certain features. With Secure2U offline, customers were redirected to authorise transactions…
Investment scams and phone calls drove losses as scammers outsmarted three in four Malaysians in 2024. A new survey shows that despite strong confidence in spotting scams, many still fell victim, losing an average of RM4,844.70 each. The 2025 State of Scams in Malaysia report, published by Gogolook and the Global Anti-Scam Alliance (GASA), found that 85% of adults had encountered a scam, with 73% falling victim. Three-quarters of Malaysian adults said they were confident in spotting scams, and 14% even claimed they could “always” identify one, yet the results highlight a clear gap between awareness and actual protection. Scams…
The Rahmah Basic Contribution (SARA) programme recorded RM102.5 million in sales on its eighth day, involving 1.7 million recipients as of 9.30 pm on Saturday. The Ministry of Finance (MOF) said the system maintained a 99.9 percent success rate for two consecutive days following upgrades to its processing capacity. Prime Minister Anwar Ibrahim, speaking at the Madani Rakyat 2025 programme in Baling, said the initiative must be seen as part of a wider effort to reduce hardship. “Some may say RM100 is too little, but this comes on top of other programmes. In total we are providing RM15 billion to…
SME Corp. Malaysia and peer-to-peer platform microLEAP have launched a RM35 million financing programme that allows eligible SMEs to convert part of their financing into grants. The Business Accelerator Programme (BAP) Alternative Financing Programme 2025 (Program Pembiayaan Alternatif BAP 2025) offers Shariah-compliant financing of up to RM400,000 at a profit rate of 3.5 percent per annum. Up to 40 percent of the financing may be converted into a grant for SMEs with a timely repayment track record, subject to approval from SME Corp. Malaysia. microLEAP has been appointed as the financing intermediary. With this latest allocation, total funds channelled under…
Tune Protect Group has launched CyberSafe, a digital protection service developed with BOXX Insurance, a global cyber risk specialist. The product is aimed at connected travellers and is now available across the EMEIA and Asia Pacific regions. CyberSafe is designed to address risks such as phishing, identity theft and data breaches, which have become more common when people are on the move. It provides users with real-time alerts, incident response support, identity monitoring, threat intelligence and educational content. The service is accessible through Tune Protect’s B2B portal and API for travel agents and online travel agencies, with prices starting at…
Mydin is stretching its shopping hours this weekend, keeping 50 outlets open until 1am to cope with the rush of Malaysians redeeming their Sumbangan Asas Rahmah (SARA) aid. Free Malaysia Today reported that from 5 to 7 September the branches will open from 7am to 1am, giving shoppers 18 hours each day. The move comes as demand spikes from the one-off RM100 SARA credit, which has been credited into the MyKad of over 22 million Malaysians aged 18 and above. The credit, announced by Prime Minister Anwar Ibrahim in July, can be used at more than 7,300 retail outlets until…
More than 400 students from 21 universities joined PayHack 2025, Malaysia’s largest intervarsity hackathon by Payments Network Malaysia (PayNet). Organised through the PayNet Akar initiative with Ant International and supported by Asia Pacific University of Technology and Innovation (APU), the hackathon began in June with over 90 team submissions. After preliminary and semifinal rounds, 17 finalists gathered at Xsolla Curine Academy in KL Eco City on 2 and 3 August for a 48-hour sprint to build working prototypes. The winning team, RoadTo20K from Universiti Malaya, took the top prize with BizKuKu, a digital platform designed to help small businesses with…