CTOS Digital has launched a new app that lets consumers check their credit records, monitor their scores and receive alerts about possible identity misuse. Users can view their Central Credit Reference Information System (CCRIS) information, repayment history, active credit facilities and legal records. They can also track monthly changes to their CTOS Score and compare it with others in the same age group or of the same nationality. CTOS SecureID sends alerts about potential dark web exposure, new credit applications, credit limit changes and address changes. Business credit reports are also available through the app. Users can obtain a concise…
Author: Fintech News Malaysia
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The Securities Commission Malaysia (SC) and Bursa Malaysia held their first joint investor education fair on 5 and 6 September 2026. The InvestSmart x Bursa Marketplace Fair 2026 took place at the Pavilion Bukit Jalil Exhibition Centre and was officiated by Treasury Secretary-General Tan Sri Johan Mahmood Merican. Dato’ Mohammad Faiz Azmi, Chairman of SC, said, “For many Malaysians, concerns over fraud and limited access to reliable investment information remain barriers to investing. This first-ever collaboration aims to improve access to trusted financial information and digital investment tools, empowering more Malaysians to invest with confidence and take greater charge of…
Visa has launched a new security roadmap for Malaysia’s payments industry, targeting AI-driven fraud through 2028. Now in its third edition after debuting in 2019 and updating in 2023, the roadmap responds to a shift in how scams work. Malaysians lost RM2.97 billion to scams in 2025, the highest figure recorded in three years. Information and communications technology, together with e-commerce, contributed 23.4 per cent of the national economy in 2024, worth RM451.3 billion. Jason Phua, Head of Clients at Visa Malaysia, said, “With this roadmap, Visa is setting out a common direction for the industry to collectively work towards…
Malaysians lost RM28.67 million to QR code scams in the first six months of 2026. Authorities received 5,134 reports during the period, according to figures provided by Bukit Aman Commercial Crime Investigation Department Director Rusdi Mohd Isa to The Star. The latest figures bring the total since January 2023 to 11,919 cases and RM80.86 million in losses. Cases rose from 223 in 2023 to 655 in 2024 before reaching 5,907 last year. Annual losses increased from RM4.59 million to RM6.76 million and then RM40.85 million over the same period. Police Trace Funds Through Recipient Accounts Police investigations extend beyond those…
Hong Leong Bank (HLB) has formally launched HLB opus, an invite-only card for a select group of clients, built on Visa’s Infinite Privilege tier. HLB first announced Malaysia’s first Visa Infinite Privilege card back in July 2026. This launch marks the card’s official unveiling, adding its ceramic design and full set of travel and lifestyle partnerships. The card is made from Convego® Ceramic, developed with card technology provider Giesecke+Devrient (G+D). HLB describes it as Southeast Asia’s first credit card crafted in ceramic. The bank positions HLB opus as part of a “One Bank” client model which connects its Business &…
CIMB will require SecureTAC approval for online transactions by 19 September 2026. SecureTAC allows customers to authorise transactions through the CIMB OCTO App using Face ID, a fingerprint or their device passcode. The requirement will apply to all transactions made through CIMB Clicks Web and merchant websites. After submitting a transaction, customers will receive a push notification through the app on their primary device. They can then check the details and approve or reject the request. Customers who have not enabled biometric authentication or a device passcode will receive an error message when they attempt to approve a transaction. …
ROOMIE has introduced an integrated payment gateway for hotels serving travellers from China, India, South Korea and Southeast Asia. The Malaysian hospitality tech company’s gateway allows guests to pay for room bookings, room service, laundry and on-demand entertainment without leaving the hotel’s booking or chat channel. Supported payment methods include Alipay, India’s Unified Payments Interface (UPI), Thailand’s TrueMoney and Line Pay, and the Philippines’ GCash. According to ROOMIE, the gateway can improve conversion rates for in-hotel payments by 40%. “ROOMIE’s latest payment gateway allows all travellers to engage in the language they are comfortable in, as well as the payment…
International visitors spent more than RM1 billion through TNG eWallet in the first half of Visit Malaysia 2026. This accounts for close to half of the RM2.58 billion in tourist spending recorded through the app since the service was introduced in April 2025. Travellers from Singapore, Indonesia, Brunei, China, Thailand and Australia were among the largest visitor markets during the period. International visitors can register for TNG eWallet using an overseas mobile number and make payments through Malaysia’s DuitNow QR network. Around 76% of tourist transactions took place at physical merchant locations rather than online. Retail businesses received 43% of…
Ryt Bank has introduced Ryt Credit as an updated version of Ryt PayLater with limits of up to RM100,000. Ryt Credit became available in the Ryt Bank app where customers previously accessed Ryt PayLater from 3 September 2026. Further updates will be introduced over the coming weeks. Ryt PayLater previously gave eligible users access to credit of up to RM1,499 without requiring income documents. Its users could use it for online and in-store purchases with their Ryt Card, as well as DuitNow QR payments. Higher Limits Require Income Documents Eligible customers can apply for a higher Ryt Credit limit by…
Cross-border payments are expected to reach US$290 trillion by 2030, but moving money across markets is still harder than it should be. Banks, wallets, cards, real-time payment systems, stablecoins and digital asset wallets are all growing. The challenge now is not adding more rails. It is making them work together across currencies, regulations and local payment networks. This webinar will bring together thought leaders to explore: How global payments are shifting from traditional rails to connected ecosystems Why more payment choice is creating new challenges around liquidity, compliance and customer access Where stablecoins and digital assets fit into real cross-border…
AEON Bank customers can now use Google Pay with the bank’s Visa Debit Card-i. Customers can add the card to Google Wallet on compatible Android devices and use it for contactless payments in stores and online wherever Google Pay is accepted. IDEMIA Secure Transactions supported the Google Pay rollout, marking its first digital card deployment in Malaysia. The bank is also offering 3% cashback on eligible Google Pay purchases from 28 August to 30 September 2026. Cashback is capped at RM30 per customer and will be credited after the transaction is settled. Customers must link their AEON Bank Visa Debit…
Alibaba is providing two artificial intelligence tools through Malaysia’s AI untuk Rakyat programme, which aims to benefit 100,000 youth aged 18 to 30. The initiative is led by the Ministry of Digital and implemented by MyDIGITAL Corporation through the Rakyat Digital platform. Participants who complete and pass the required learning modules can redeem three months of free access to selected AI applications. Alibaba is among the programme’s initial technology providers. Its MuleRun and WonderClip platforms will be included in the first group of tools available to participants. WonderClip supports video production tasks including script analysis, storyboard generation, video synthesis and…
Malaysia has increased the microfinancing available to small businesses by RM1 billion, bringing the total for 2026 to RM6 billion. The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) plans to accelerate access to the additional financing through Bank Rakyat, Amanah Ikhtiar Malaysia and TEKUN Nasional, Bernama reported. Minister Steven Sim described the requirements and application processes offered by microcredit providers as generally better suited to micro and small businesses. Prime Minister and Finance Minister Anwar Ibrahim announced the funding increase on 30 August as part of a wider package aimed at helping businesses manage rising costs. Another measure raised the…
Paydibs has expanded into merchant financing as it looks to serve businesses beyond payment acceptance. The Malaysian fintech has partnered with Anchor Capital to give eligible merchants digital access to working capital. Anchor Capital is licensed by the Ministry of Housing and Local Government (KPKT). Repayments are automatically deducted from weekly payment settlements and adjust according to each merchant’s transaction performance. The arrangement is designed to give businesses more flexibility in managing cash flow. The partnership is Paydibs’ first with a financing provider. “Payments are where our relationship with merchants begins, not where it ends,. Merchant financing is a natural…
Bank Negara Malaysia (BNM) has reappointed Datuk Yogeesvaran Kumaraguru to its Monetary Policy Committee for a three-year term. His new term as an external member takes effect on 1 September 2026. He has served on the committee since 1 September 2024. Yogeesvaran previously spent 27 years at Malaysia’s Economic Planning Unit, where he helped formulate several Malaysia Plans and served on the National Economic Action Council Secretariat. He joined the Ministry of Plantation Industries and Commodities as secretary-general in 2017. He has also advised the World Bank and the United Nations on economic matters. Yogeesvaran is currently a partner at…
Malaysians aged 18 to 30 can unlock three months of ILMUchat Pro by completing the required AI training on Rakyat Digital. The offer is available from 31 August through AI Untuk Rakyat, a national programme led by the Ministry of Digital. An ILMUchat Pro subscription normally costs RM50 a month. Prime Minister Datuk Seri Anwar Ibrahim launched the programme on 28 July alongside AI Malaysia and the National AI Action Plan 2026–2030 in Cyberjaya. AI Untuk Rakyat aims to equip 100,000 young Malaysians with practical AI knowledge and skills. YTL AI Labs and MyDIGITAL Corporation are supporting the programme through…
The International Finance Corporation (IFC) acquired an interest in Boost Holdings through a US$20 million preference-share investment that placed its post-money valuation at US$340 million. Boost confirmed the investment in a 28 September announcement, saying it would help develop and scale its digital financial services. IFC’s project disclosure shows the funds were invested on 17 August. It expects the investment to support SME financing and consumer credit in Malaysia, including digital lending that uses alternative credit scoring to reach underserved borrowers. Boost continues to engage other prospective investors as it seeks additional backing, The Edge reported. Axiata Group CEO and…
CIMB has completed a pilot using tokenised deposits to settle RM1.38 billion in tokenised sukuk. The pilot was linked to a RM1.68 billion issuance under CIMB Islamic Bank’s RM10 billion Senior Sukuk Wakalah Programme, with tenors ranging from five to 15 years. Twelve institutional investors subscribed to the tokenised portion, while the remaining RM300 million was issued as traditional sukuk. Tokenisation uses distributed ledger technology to represent financial assets digitally. CIMB undertook the pilot as part of its participation in Bank Negara Malaysia’s Digital Asset Innovation Hub, which provides a controlled environment for testing digital asset applications. The bank has…
Setel has addressed the regulatory breaches behind its RM637,500 penalty, with Petronas Dagangan reporting that no customer funds or transactions were affected. The response was issued after Bank Negara Malaysia (BNM) penalised Setel for failing to comply with targeted financial sanctions requirements. The regulator found that Setel had not promptly updated its sanctions database following the publication of Malaysia’s Domestic List. It also failed to screen customers against the list and determine whether potential matches were genuine. Petronas Dagangan stated that Setel identified the issues through internal reviews in late 2023 and reported them to BNM. The company continued to…
Bank Islam Malaysia Berhad has appointed Dato’ Wan Mohd Fadzmi Che Wan Othman Fadzilah as its Chairman and Independent Non-Executive Director, effective August 27, 2026, according to Bank Islam’s LinkedIn post. He succeeds Tan Sri Dr Ismail Hj Bakar, who retired from the position on August 22, 2026. Wan Mohd Fadzmi, 60, brings more than 30 years of domestic and international banking experience. He spent 22 years at Maybank, including serving as chief executive and country head for its operations in London, New York and Hong Kong, before joining RHB Bank as Director of Global Financial Banking Strategic Business Group.…