Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) have launched the Climate Finance Innovation Lab (CFIL) under the Joint Committee on Climate Change (JC3) at the Sasana Symposium 2025. The initiative aims to support the development of innovative climate finance solutions that enhance Malaysia’s resilience to climate change. CFIL brings together cross-sector collaboration involving public, private, and philanthropic partners to co-develop and implement financial tools focused on energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity. Administered by Bank Pembangunan Malaysia Berhad, the lab will adopt a modular approach to…
Author: Fintech News Malaysia
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SME Bank and Bank Simpanan Nasional (BSN) have entered into a strategic partnership to support the development of Malaysian entrepreneurs. The initiative aims to improve entrepreneurs’ access to financing, capacity building, and digital tools, reinforcing the role of Development Financial Institutions in national development. SME Bank’s digital platforms, which include ScoreXcess, ELSA, and ODELA, have supported nearly 5,000 SMEs from 2021 to 2024 across various sectors. Operated by its training and capacity-building arm, the Centre for Entrepreneur Development and Research (CEDAR), the ScoreXcess platform acts as a one-stop portal for small and micro financing. As part of the collaboration, BSN’s…
CIMB Group has announced the appointment of Datuk Syed Zaid Albar as its new Group Chairman, effective 20 July 2025. He will take over from Tan Sri Mohd Nasir Ahmad, who will retire from the board on 19 July. Ahead of the transition, Datuk Syed Zaid will be appointed as an Independent Non-Executive Director starting 18 June. A lawyer with four decades of experience, Datuk Syed Zaid is one of the founding partners of Albar & Partners and is known for his work in financial services and corporate advisory. He previously served as Executive Chairman of the Securities Commission Malaysia…
Bank Negara Malaysia (BNM) has launched a new Digital Asset Innovation Hub as part of the Sasana Symposium 2025. The initiative aims to stimulate financial innovation in a controlled environment where applicants can test new financial solutions and provide input to refine regulatory and security frameworks. The two-day event, held at Sasana Kijang on 17 and 18 June, brings together policymakers, business leaders, academics, and civil society to explore reforms needed to build a more resilient Malaysia. Prime Minister Dato’ Seri Anwar Ibrahim officiated the launch of the hub, which is designed to support the development of digital assets and…
Paydibs, a digital payments company in Malaysia, has entered a new phase with a refreshed fintech identity, updated leadership, and a roadmap geared towards supporting business growth, particularly among SMEs. Tee Kean Kang, Chief Commercial Officer, is part of the renewed leadership team. With his industry experience, he is tasked with shaping the company’s commercial strategy. Following several years of development, Paydibs is re-emerging with a team experienced in payments, stored value, and digital lending. Its current approach aims to support scalability through updated technology, direct integration with national payment infrastructure, and a streamlined user experience. To support this next…
Global analytics software firm FICO has been named a leader in The Forrester Wave: AI Decisioning Platforms, Q2 2025 report. The company’s FICO Platform received the highest score in the Current Offering category and achieved top marks across 13 evaluation criteria. According to Forrester, AI decisioning platforms “transform how organisations operationalise both human intelligence and AI at scale, enabling faster, more accurate decisions across complex business processes.” The report highlights AI decisioning as a critical enabler for Agentic AI, adding that “modular architecture allows organisations to build AI decisioning agents that autonomously adapt to real-time data and maximise decision intelligence…
The Securities Commission Malaysia (SC) has approved the listing of two additional digital assets, HBAR and GRT, following a proposal by digital asset exchange Luno. This brings the total number of SC-approved digital assets on Luno to 22, making it one of the most extensive selections offered by a regulated exchange in Malaysia. The approvals mark the second batch of digital assets cleared by the SC this year. To date, Luno has submitted over 25 proposals, of which 22 have been approved. HBAR is the native token of the Hedera network, offering fast, low-cost transactions via hashgraph consensus. GRT, from…
Bank Negara Malaysia (BNM) will fully implement the Qualified Resident Investor (QRI) Programme starting 1 July 2025. This offers greater foreign exchange flexibility to eligible corporates planning to reinvest abroad. Under the QRI framework, approved corporates may reconvert ringgit into foreign currency for direct investment abroad (DIA) without requiring prior approval from BNM. To qualify, corporates must first register with BNM and convert eligible foreign currency funds such as dividends, interest income, or divestment proceeds into ringgit. Only funds converted after successful onboarding are eligible for reconversion. Existing balances in Investment Foreign Currency Accounts with licensed onshore banks may also…
Hong Leong Bank (HLB) has signed a MoU with DCAP Digital to enhance its SME lending solutions and promote financial inclusion for underbanked communities in Malaysia. Established in 2020, DCAP Digital offers a full-stack Lending-as-a-Service (LaaS) platform that provides transparent and fair credit solutions. The platform supports capital deployment to pre-vetted borrowers and includes digital tools designed to ensure efficiency, transparency, and compliance with regulatory requirements. Through this partnership, HLB intends to utilise DCAP Digital’s expertise in LaaS, particularly its AI-driven credit scoring engine, which aims to deliver more accurate and inclusive credit assessments. The Bank will combine this technology…
It’s been one year since Boost Bank launched in Malaysia — so what have they achieved, and where are they headed next? In this milestone interview, Boost Bank CEO Fozia Amanulla joins Fintech News Network’s Chief Editor Vincent Fong to reflect on their journey so far: from hitting RM700 million in deposits and launching RM160 million in SME loans, to onboarding unbanked Malaysians through embedded banking
Moomoo Securities Malaysia has launched Moomoo AI, which it says is the country’s first AI-powered investment platform for retail investors. The company said it is also the only broker in Malaysia currently offering institutional-style analytics, an AI assistant, and algorithmic trading tools within a single platform. Moomoo AI combines real-time data analysis, an AI-driven investment assistant, and a no-code strategy builder. According to the company, the tools are designed to support retail investors by providing access to structured insights and automation typically used in institutional settings. The platform’s stock analytics engine brings together technical indicators, fundamental data, sentiment analysis, and…
AEON Bank, Malaysia’s first Islamic digital bank, has updated its mobile banking app to include Bahasa Melayu, the national language of Malaysia. The new language option is part of the bank’s effort to improve accessibility and inclusivity for its customers across the country. The update provides users with the choice to navigate the app’s features and services in Bahasa Melayu, offering a more familiar user experience. According to the bank, the translation for the app’s interface was developed internally by a dedicated team to ensure the language used is clear and appropriate for its users. The introduction of the Bahasa…
Merchantrade Asia reported it has processed more than RM3.6 billion in digital wage disbursements to foreign worker e-wallet accounts in 2024. The company has set a new target to reach RM5 billion in payroll volume by the end of 2025. Merchantrade, which provides digital wage solutions for Malaysian businesses across sectors such as plantation, manufacturing, construction, and services, currently supports over 40 public listed companies. Its payroll offering allows employers to transfer salaries directly to migrant workers via the Merchantrade Money e-wallet. Merchantrade said the payroll system is designed for ease of use and scalability. It supports features such as…
alrajhi bank Malaysia has consolidated its two existing mobile banking apps, alrajhi@24seven and Rize, into a single platform called MY alrajhi. The unified app brings together all current features and will serve as the bank’s only digital channel for retail customers. Rize users can log in with their existing credentials, while alrajhi@24seven users are required to download MY alrajhi and complete a quick sign-up to access their accounts. The Rize Savings Account-i has been rebranded as the DuitPlus Savings Account-i, retaining its 3.3 percent per annum profit rate until further notice. New customers can open and activate a DuitPlus Savings…
Soft Space has announced that Serene Teh Wan Lee will be temporarily stepping aside from her role as Chief Financial Officer. According to a press release, the decision was reached through mutual agreement between Serene and the company’s leadership team, in light of long-standing personal matters. Serene has been navigating a prolonged and challenging marital situation, which has affected her personal well-being and focus. Her decision to step aside was made in consultation with the leadership team and board of directors, in order to prioritise her well-being and ensure sustained leadership focus and stability within the company. “Serene has our…
In today’s rapidly evolving financial ecosystem, the future of deposits is undergoing a dramatic transformation. The latest report from cloud banking platform Mambu and Findexable, The Future of Deposits 2025: Reshaping for Change, offers valuable insights into how the forces of economic change, technological innovation, and shifting consumer expectations are reshaping the deposit landscape. How Digital Forces Are Reshaping Bank Deposits As banks face the pressures of competition from fintechs, global neobanks, and digital-first platforms, it’s clear that traditional deposit models are no longer sufficient. Here’s a brief look at the pivotal themes from the report: Rising Competition from Digital-first…
Kenanga Investors has launched the Kenanga Alternative Series: Global Real Assets Fund, the latest addition to its alternative investment lineup. The open-ended retail fund offers exposure to global real estate, precious metals, and commodities through exchange-traded funds and aims to deliver steady asset growth and stable income. Managed by GAX MD, the fund uses proprietary algorithms and quantitative models to guide its investment approach. GAX MD, known for launching the MYTHEO digital investment platform in Malaysia, applies a data-driven screening process to select ETFs based on factors such as liquidity, expense ratios, and tracking efficiency. The fund is available in…
Banking institutions across Asia Pacific are under increasing pressure to modernise. Whether in current or emerging markets, banks are riding the tide of a rapidly shifting landscape defined by digital technologies, adapting to regulatory requirements, rising customer expectations, and stiff competition from nimble fintech startups. Yet, legacy systems remain a primary reason why banks cannot keep up with the market and innovate fast enough. Despite the advances in digital transformation, according to a news report by The Asian Banker, approximately 95% of banks in Asia are still using second and third generation banking technology. These old-school platforms were never designed…
Bank Muamalat has launched ATLAS, an Islamic digital bank developed in collaboration with global banking technology provider Backbase. The platform is designed to deliver a seamless digital experience that aligns with customers’ faith and modern lifestyles. ATLAS offers digital onboarding, DuitNow integration, and Shariah-compliant financing, and has shown promising results since its pilot phase, including faster rollout of new products and more efficient customer onboarding. In the coming months, Bank Muamalat plans to introduce digital debit and credit cards, flexible personal financing, and a Shariah-compliant gold investment account. A rewards program tied to lifestyle offers through selected brand partners will…
The Alibaba Cloud Global AI Hackathon held its first Malaysian edition in 2025, following the series’ kickoff in Singapore. Co-hosted with local technology firm AGMO, the event brought together 250 developers, university students, and entrepreneurs to build AI-driven solutions for real-world challenges sourced directly from Malaysian industries. Over an intense 48-hour sprint, 75 teams tackled issues including insurance claim inefficiencies, SME financing gaps, and tax compliance. Participants used Alibaba Cloud’s AI platforms, such as Model Studio, Quick BI, Lingma, and PAI, to develop solutions tailored to local needs. Teams from the University of Malaya claimed the top three awards with…