Author: Izzat Najmi Abdullah

“The future is already here, it’s just not evenly distributed.” The line from one of my favourite authors, William Gibson, has often been used to describe technology. And as of today, I feel like it is an apt description of Malaysia’s latest and freshest newcomer in the digital banking scene, who, finally, is preparing to go live next month. It has been a long road to get here. Once known as YTL-SEA Digital Bank, the project faced repeated delays, trailing behind GXBank, Boost Bank, AEON Bank and KAF Digital Bank in rolling out to the public. Earlier this year, it…

Kids these days are not like when we were little. At least for those of us who remember when a flip phone was a luxury. They are already tapping the screens of their phones, levelling up their money skills and securing the bag before they even master shoelaces. It is a glow-up in financial know-how that might leave older generations feeling a bit FOMO. For Malaysia’s youngest generation, piggy banks are becoming a relic of the past. Their wallets live on screens, payments happen in seconds, and some are exploring investments before they even finish school. These are the children…

For those who follow Malaysia’s economic trajectory, the ritual is a familiar one. Every five years, the government unveils a new national development plan, a sprawling document outlining the country’s ambitions for the half-decade to come. The Thirteenth Malaysia Plan (RMK13), setting the course for 2026-2030, is the latest chapter in this tradition. It’s a comprehensive blueprint covering everything from infrastructure to agriculture. But while the plan isn’t overtly framed as a fintech manifesto, its most critical, high-stakes components are the digital and financial reforms embedded deep within its pages. For the savvy observer, these elements are the real story.…

Every industry has its share of award shows, and fintech is no different. But every so often, one comes along that manages to feel grounded and relevant. It doesn’t chase headlines or reward the loudest voice in the room. Instead, it puts the spotlight on the people building quietly, often without the attention they deserve. That was the premise behind the Fintech Frontiers 50 Awards, held on 5 August 2025 at The Estate on Federal Hill in Kuala Lumpur. Timed to coincide with Malaysia’s MyFintech Week, the event drew founders, regulators, investors, and ecosystem builders from across the region. This…

Southeast Asia’s fintech sector has reached a crucial stage of maturity, and this year, it’s time to honour the people leading that progress. On 5 August 2025, many of the region’s most impactful fintech founders will gather at the Estate on Federal Hill, Kuala Lumpur, for the Fintech Frontiers 50 Awards. What is that, you ask? Well, it is going to be a night dedicated to celebrating the builders shaping the future of finance across ASEAN. More than just a ceremony to celebrate those helping to shape the future of fintech in this region, the event also sends a clear…

As of 1 July 2025, Malaysia’s broadened Service Tax (SST) framework has officially come into force, placing financial services under closer regulatory scrutiny. The policy shift, first introduced in Budget 2025, represents a fundamental recalibration in the way financial services are taxed. While the primary objective is to strengthen fiscal sustainability by expanding the tax base, policymakers have opted for a deliberate, layered approach to avoid disrupting essential banking services relied upon by the public. Do note that not every service is impacted, but those that are, could necessitate rethinking internal processes, pricing models, and customer-facing disclosures. What Falls Within…

Have you ever had a minor nuisance before? Like forgetting an umbrella. Something you hardly even noticed? That’s exactly how I’d like to feel about my next hospital bill. Just a small, manageable part of life. But the reality in Malaysia is different. Right now, medical inflation here in Malaysia is moving faster than most people can comfortably pay. Latest estimates put the rate at 15% this year, one of the steepest in the region. That means consultations, scans, and hospital stays all cost noticeably more every year. Medical and health insurance premiums follow suit. It’s easy to see why…

“I’m not a criminal. I didn’t lie, and I’m not involved in money laundering.” Those were the opening words of Michelle Law’s viral TikTok post regarding a money mule accusation linked to BigPay’s systems, which quickly sparked a nationwide conversation about the hidden costs of fintech automation, gaps in oversight, and the very real impact of system failures. At the heart of it is a seemingly trivial RM10.44 refund error by BigPay, which she says triggered a cascade of consequences. Michelle shared a screenshot of what she says is an email from BigPay, stating that her account had been flagged…

“If they become bankrupt by age 40, they’re going to end up on the social welfare beneficiary list for the rest of their lives.” You know a topic’s serious when a minister starts sounding the alarm in a room full of central bankers. At the recent Sasana Kijang Symposium 2025 hosted by Bank Negara Malaysia, Youth and Sports Minister Hannah Yeoh called out a growing crisis. According to her, 877 Malaysians aged 18 to 40 faced bankruptcy in 2024, an increase from 727 the previous year. On its own, that might not seem like a national emergency, but Hannah wasn’t…

Kaushik Chowdhury assumed the CEO role at GXBank just a few days ago, on 1st June 2025, but for him, this isn’t a fresh start.  To him, it’s a continuation of something he’s been helping build from the inside. From shaping its earliest strategies to embedding the culture that drives the bank today, Kaushik has been part of GXBank’s DNA long before the title became official.  “I’ve already had a prolonged dry run,” Kaushik admitted with a smile when asked about the transition.  “Everyone says, ‘big shoes to fill’, but honestly, Pei-Si manages with such artistry, it’s intimidating. So what…

Once a niche concept reserved for tech-forward investors, robo-advisor (or officially known in Malaysia as Digital Investment Manager (DIM), through its platforms) has rapidly emerged as a mainstream force reshaping how Malaysians invest. Blending algorithm-driven intelligence with human-designed strategy, these platforms promise what traditional wealth management often could not (simplicity, accessibility, and affordability), all at the tap of a screen. Behind this transformation is the Securities Commission Malaysia (SC), which established a dedicated Digital Investment Management framework to regulate and license these platforms as Licensed Fintech Intermediaries. By doing so, the SC has not only fostered innovation but also safeguarded…

The CIMB Gen AI Hackathon, held on April 19, 2025, at AWS Malaysia’s 35th-floor headquarters in Kuala Lumpur, offered a fresh take on how banks can discover and engage with emerging AI talent. Rather than a marathon of coding for its own sake, this initiative was a thoughtful step in CIMB’s broader Forward30 transformation strategy, designed to support its ambitions of becoming an AI-first bank. The theme, “Hack-to-Hire,” reflected CIMB’s interest in using real-time challenges to better understand potential candidates’ capabilities. It also provided a valuable environment where participants and CIMB teams could interact meaningfully and explore mutual fit. This…

Since the Securities Commission Malaysia (SC) introduced the regulatory framework for Peer-to-Peer (P2P) financing in 2016, the industry has grown rapidly, becoming a multi-billion Ringgit market that plays a vital role in supporting micro, small, and medium-sized enterprises (MSMEs). Malaysia was also the first ASEAN country to formally regulate P2P financing, introducing a comprehensive framework through the Securities Commission in 2016. This regulatory clarity has been critical in building investor trust and platform accountability. The Recognised Market Operators (RMO) framework requires P2P platforms in Malaysia to maintain RM 5 million in paid-up capital, operate segregated trust accounts, and adopt transparent…

The capital market in Malaysia has surged past the RM4.2 trillion mark, and while IPOs hit a record high in 2024 with 55 new listings, it’s another, quieter revolution that’s helping startups and small businesses take off through Equity Crowdfunding (ECF). Since its inception in 2015, ECF has raised over RM 776 million for 400 companies through more than 400 successful campaigns, proving itself a powerful funding engine for micro, small, and medium-sized enterprises (MSMEs). ECF is now seen as a lifeline for many entrepreneurs who once found traditional financing inaccessible or too restrictive. The ECF platforms in Malaysia now…

The financial landscape in Malaysia has seen a wave of innovation through digital platforms designed to democratise investment and fundraising. From Digital Asset Exchanges (DAX) to Equity Crowdfunding (ECF) and Digital Investment Management (DIM), these tools were heralded as disruptors that would reshape how people access and participate in the capital market.  But after years in operation, are they really delivering on their promise?  According to the Securities Commission (SC) Malaysia’s Annual Report 2024, these digital verticals have shown progress, but that progress is a little bit patchy. ECF is facing a slump, DAX remains overshadowed by traditional markets, and…

A few years ago, I heard from a podcast that the best type of tech is the one that disappears into the background. At first, it sounded like a throwaway line. But the more you think about it, the more it rings true. People don’t obsess over the tech itself anymore, they care about what it does, how seamlessly it works, and whether it makes life just a bit easier. And nowhere is that more evident than in the way we pay. Cash is no longer king. Convenience is. These days, many of us leave our homes with just a…

If you’ve ever wished your banking app could think, not just display your balance or process a payment, but actually understand your needs and act on them, then you might like what we have in store for you. While Malaysia’s digital banking scene heats up with new players like GXBank, Boost Bank, and AEON Bank entering the fray, one challenger is veering off the well-worn path. Ryt Bank, led by CEO Melvin Ooi, isn’t just adding a digital layer to traditional banking. It’s building a whole new kind of financial experience with artificial intelligence at the heart. “Think of Ryt…

Malaysia’s fintech sector is not the largest in ASEAN, but it is increasingly one of the most strategically important. With over 300 fintech companies (according to our Malaysia Fintech Report 2024) spread across verticals, the country’s digital finance ecosystem is thriving. It is all thanks to strong government support, high mobile and internet penetration, and fundamentally, a group of digitally literate population. Unlike some regional peers that have chased blitz-scaling and unicorn valuations, fintechs in Malaysia have taken a more integrated and institutionally anchored approach. Many of the most successful players are closely tied to incumbent banks, sovereign wealth funds,…

I just woke up (like, literally) at this time of writing and the first thing I saw was KFC Malaysia offering Buy Now Pay Later (BNPL) to buy their lists of tender fried chickens. Yup, you read that right. You can now spread your payments over three months (instalment-free) just to get your fix of crispy, deep-fried goodness. If that sounds absurd to you, you’re not alone.  KFC Malaysia has partnered with Boost Credit’s QSR PayFlex to introduce BNPL for their meals. This means that if you’re craving a Snack Plate but don’t have enough cash today, you can still…

Everything is cashless now, and honestly, it’s never been easier. In Malaysia, where digital payments have taken off in a big way, you can pay for almost anything with the one thing you never seem to leave behind—your phone.  And it’s not just a passing cloud. Malaysia has been climbing the global ranks in QR code adoption, and the numbers prove it.  Malaysia now sits among the top countries in QR code payment adoption, ranking second globally at 61.5%. That’s right, just behind global giant, China, the leader who sits first at 67.4%.  In fact, Malaysia has even outpaced digital…