Author: Fintech News Malaysia

TNG Digital and ShopBack have announced a partnership to launch a new cashback feature called “Shop & Earn” within the TNG eWallet. This collaboration allows TNG eWallet users in Malaysia to earn cashback on online purchases. The “Shop & Earn” mini programme enables users to access over 150 online brands directly through the TNG eWallet. Cashback earned through this feature is in addition to the existing GOrewards points. Users can find the new programme by selecting “More” on the eWallet’s home screen and then choosing the “Shopping” section. Cashback earned will be visible within the mini programme and can be…

What started as a RM6,000 loan funded out of their own pockets has grown into over RM4 billion disbursed to more than 2,000 SMEs. Xing Xian shares the raw, behind-the-scenes story. From an impromptu pitch that caught Bank Negara Malaysia’s attention, to the early struggles, hard lessons, and the real mission behind CapBay. The accidental pitch that led to CapBay being founded How the founders used their own savings to fund their first borrower Why leaving their destiny at the hands of the banks nearly killed their momentum CapBay’s role in funding digital-first businesses across Southeast Asia

Limited access to formal credit has driven many Malaysians to rely on informal lending methods to meet essential needs, a recent survey by SPayLater has revealed. SPayLater is a Buy Now, Pay Later payment option available on the Shopee e-commerce platform. The “Fikir Sekarang, Bayar Kemudian” survey, which gathered responses from over 40,000 users across the country, found that 63% of respondents who previously turned to sources like pawn shops, unlicensed lenders, or borrowing from family and friends no longer rely on such avenues after using SPayLater’s BNPL service. The findings highlight the ongoing gap in credit access, with 55%…

Alibaba Cloud has partnered with Payments Network Malaysia (PayNet) as a cloud partner for the newly launched PayNet Fintech Hub. The hub is described as Malaysia’s first fintech-focused community and accelerator. It aims to drive the growth of local fintech startups by providing access to funding, industry connections, and technical resources. Alibaba Cloud will contribute through its Startup Catalyst Program, offering up to US$120,000 in cloud credits, discounted technical support, a 12-month Cloud Academy membership, and access to the AI Alliance Community. “Malaysia’s fintech ecosystem is expanding rapidly, and we are excited to support this growth by equipping startups with…

RHB Bank is deepening its focus on customer experience through its ongoing partnership with Qualtrics, a provider of experience management solutions. Over the past two years, the bank has expanded its customer feedback program into a full-fledged Voice of Customer (VoC) ecosystem, measuring experience across 17 customer journeys. The collaboration has allowed RHB to conduct digital listening across all channels, gaining real-time feedback and applying data-led improvements. This includes implementing dashboards tailored to different business functions and using text analytics to better understand customer comments. Since adopting the VoC approach, RHB has resolved thousands of customer issues, introduced several process…

Rosidah Baharom has stepped down as Chief Financial Officer (CFO) of Bursa Malaysia, effective 17 May 2025. She leaves the position to pursue personal interests after more than 11 years in the role. Rosidah has over three decades of experience in the financial sector and was appointed CFO of the exchange on 12 February 2014. She holds professional qualifications from the Association of Chartered Certified Accountants (UK) and the Malaysian Institute of Accountants, as well as a degree in Accountancy from the University of East Anglia. There were no disagreements with the Board of Directors and no matters requiring shareholder…

Luno has added Cosmos (ATOM) to its list of supported staking assets, offering customers the opportunity to earn up to 18% per annum on their holdings if they begin staking before 16 June 2025. After that, the reward rate will adjust to 11% p.a., the highest among all six stakeable cryptocurrencies on the platform. ATOM joins Ethereum (ETH), Solana (SOL), Cardano (ADA), Polkadot (DOT), and NEAR Protocol (NEAR) in Luno’s staking portfolio. The platform launched staking for DOT and NEAR in April. Staking allows users to lock up their crypto to support transaction validation on blockchain networks such as Cosmos,…

Bank Pembangunan Malaysia Berhad (BPMB) has appointed Dato’ Muzaffar Hisham as its Group Chief Executive Officer, effective 18 May 2025. Dato’ Muzaffar has over 20 years of experience in the banking sector, covering areas such as retail and wholesale banking, investment banking, treasury, asset management, and client coverage. Prior to this, he served as the Group CEO of Maybank Islamic Banking, where he led initiatives to expand Islamic banking, grow its global wealth management presence, and implement digital solutions. Dato’ Sulaiman Mohd Tahir, Chairman of BPMB, said, “We are pleased to welcome Dato’ Muzaffar Hisham to BPMB. His proven leadership…

The Securities Commission Malaysia (SC) has signed the Enhanced Multilateral Memorandum of Understanding (EMMoU) by the International Organization of Securities Commissions (IOSCO), marking a step forward in cross-border cooperation on enforcement matters. The signing took place during IOSCO’s Annual Meeting held from 12–14 May 2025 in Doha. Malaysia joins 27 other IOSCO members that have adopted the enhanced agreement, alongside Kenya’s Capital Markets Authority and Spain’s Comisión Nacional del Mercado de Valores. The EMMoU builds on IOSCO’s original Multilateral MOU, which the SC joined in May 2007. The new framework offers broader enforcement tools, including powers to access audit papers,…

Global Fast Track 2025 (GFT 2025) is now open for applications until 21 September 2025. This year, the programme will include other verticals besides fintech, providing business opportunities for more technology companies in Hong Kong and worldwide. The year-long hybrid program offers participants one-on-one meetings, live pitching opportunities, mentorship, and customised business matching with corporate clients, investors, and service providers. A separate competition track will choose semi-finalists from each vertical to pitch in person at the Hong Kong FinTech Week x StartmeupHK Festival 2025 in November. The grand finale will be held during the main conference. Shortlisted companies will also…

CoKeeps and Maybank Trustees Berhad have signed a MoU to explore and implement blockchain-based custodial and asset management solutions. This partnership is in line with Malaysia’s national digital transformation agenda. It supports the government’s Digital Economy Blueprint, which identifies blockchain as a critical enabler to enhance economic competitiveness, increase financial inclusion, improve transparency in public services, and drive innovation across key sectors. Through the collaboration, both parties aim to develop blockchain-driven applications tailored to asset management, with a shared goal of strengthening governance practices and creating new forms of value in both financial and non-financial sectors. CoKeeps will contribute its…

Malaysia’s first digital bank, GXBank, has announced changes in its senior leadership, with current CEO Pei-Si Lai set to become Group CEO of GXS Bank effective 1 June 2025. The transition follows the planned retirement of outgoing Group CEO Muthukrishnan Ramaswami. The group operates as GXS Bank in Singapore and GXBank in Malaysia and works closely with Indonesia’s Superbank, which shares the same parent companies, Grab and Singtel. Kaushik Chowdhury, who currently serves as GXBank’s Deputy CEO and Chief Commercial Officer (Retail), will succeed Pei-Si as CEO of the Malaysian digital bank. He will be supported by Hildah Hamzah, who…

RHB Banking Group has pledged close to RM1 million over three years to support initiatives under the Government of Malaysia’s Santuni MADANI programme. The commitment begins with the adoption of Kampung Gudang Garam in Segamat, Johor, as its pilot community. The initiative falls under the “Satu Pemimpin Satu Kampung” framework and is part of efforts to foster greater public-private sector collaboration in uplifting underserved communities. Santuni MADANI, introduced under Prime Minister Datuk Seri Anwar Ibrahim’s administration, reflects the national push toward inclusive growth and social equity. RHB’s contribution will support two focus areas: the development or improvement of essential infrastructure…

PayNet’s Fintech Hub is more than just an accelerator, it’s a platform built to help Malaysia’s fintech startups scale without giving up equity. In this video, we sit down with PayNet’s CMO, Gary Yeoh, to talk about why this initiative could be a game-changer for founders looking to build the next fintech giant in Malaysia. From mentorship and funding credits to exclusive global networks and many more benefits. Watch till the end to learn how you can join the movement.

Islamic finance has long been one of Malaysia’s crown jewels, a strategic asset nurtured over decades through progressive regulation, institutional strength, and global ambition. As of 2025, the Islamic banking assets in Malaysia are worth roughly USD $260 billion, and ranked as the top jurisdiction in the Islamic Finance Development Indicator. RAM Ratings also projects the industry to grow by 8% this year, reflecting a robust outlook despite global uncertainties. Malaysia’s ‘Islamic First’ policy, coupled with supportive regulations and a rising appetite for Shariah-compliant financial solutions, has positioned the country as both a benchmark and a testbed for the next…

ShopeePay and Zurich General Takaful Malaysia have collaborated to introduce Zurich Travel Takaful, a Shariah-compliant travel protection plan offered digitally. This partnership makes Zurich Travel Takaful accessible through the ShopeePay platform. The plan caters to the demand for Shariah-compliant protection options for travellers. It is available for both domestic travel, starting from RM3 per day, and international travel, from RM15.99 per day. This marks ShopeePay’s first travel protection offering, providing choices for single-trip or annual coverage to suit both occasional and frequent travellers. Zurich Travel Takaful provides coverage up to RM300,000 for medical expenses and personal accidents during travel. Additional…

TNG Digital has introduced a feature that lets international tourists register for the TNG eWallet, allowing them to make cashless payments at over 2 million merchants across Malaysia. The move simplifies payments for visitors, especially at local businesses like hawker stalls and small vendors that typically do not accept card payments. Tourists from ASEAN countries can sign up using their existing mobile numbers and top up their e-wallets with credit or debit cards issued in their home countries, or via supported remittance services. The e-wallet is compatible with DuitNow QR, which is part of PayNet’s interoperable network of more than…

Equinix has completed the second phase of its KL1 data centre in Kuala Lumpur, adding 450 cabinets to meet growing demand for digital infrastructure in Malaysia. This latest development was completed within the first year of the company’s operations in the country. It follows Equinix’s entry into the Malaysian market in 2024 and supports its broader strategy to enhance regional connectivity across ASEAN. The KL1 facility is now part of a broader network that includes Equinix’s operations in Singapore and Johor, with planned expansion into Indonesia, the Philippines, and Thailand. The company said the interconnected network is aimed at enabling…

Bank Rakyat has partnered with Mastercard to introduce the Touch Card, a payment card designed to help visually impaired users differentiate between debit, credit, and prepaid cards. The move makes Bank Rakyat the first Islamic bank in Malaysia to adopt this design. The Touch Card features notches cut into the short edge—rounded for debit, squared for credit, and triangular for prepaid—allowing users to distinguish and correctly position their cards by touch. This tactile system addresses the growing challenge of flat card designs without embossed details, which can make it harder for visually impaired users to tell cards apart. Since April…

Boost Bank, Malaysia’s first homegrown digital bank, has disbursed close to RM150 million in financing to hundreds of SMEs in Malaysia. The average loan size of around RM300,000 reflects growing demand for accessible business funding. The financing has been extended through the bank’s Term Loan and Revolving Credit facilities, which are designed to offer simplified application processes, quicker approvals, and flexible repayment terms. The financing has helped SMEs meet operational needs, manage cash flow, and scale their businesses with greater ease. SMEs across various industries—including wholesale, manufacturing, retail, construction, and food and beverage—have benefited from the bank’s support, particularly those…