Posts From Vincent Fong

Public Bank Launches New Mobile Banking App With DuitNow’s Universal QR

Public Bank released yesterday its new mobile banking app named PB Engage MY on Google Playstore and Apple App Store. The new app features a refreshed and a slightly more modern aesthetic compared to its previous iteration. New functionality for

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Malaysian Banks Don’t Spend Enough on Tech — At Risk of Disrupted by Virtual Banks

A recent report by S&P Global outlining the future outlook for Malaysia’s financial services sector highlighted that Malaysian banks are underspending in technology. The report contrasted the ratio of tech spending to operating expense of Malaysia banks versus the likes

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Why eKYC is Key To Unlocking Malaysia’s Digital Banking Revolution

  I’ve moderated and sat in a fair number of fintech panel discussions over the years, a question that is brought up 9 out 10 of every panel discussion is “What do you think are the key technology shaping fintech

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Labuan Grants China Construction Bank Approval to Conduct Digital Banking Activities

Labuan Financial Services Authority (Labuan FSA) has granted its approval for China Construction Bank Corporation Labuan Branch (CCBL) to conduct digital banking activities in the Labuan International Business and Financial Centre (Labuan IBFC). CCBL was the first to clinch Labuan

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P2P Financing Platform Fundaztic Launches Capital Protection Scheme

Fundaztic a peer to peer (P2P) financing platform approved by the Securities Commission Malaysia announced today the introduction of Principal Protect. The Principal Protect scheme is offered by Fundaztic in a bid to enhance investor trust and confidence by providing

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Selangor Launches All-in-One Digital Payments Platform CEpat

The Selangor government announced today the launch of a digital payments platform dubbed Citizens Electronic Payments Platform (CEpat). CEpat is intended to be a single platform in which citizens can make payments to all government agencies at various levels of the

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Why Australia is a Great Destination for Malaysian Fintech Startups

When it comes to expansion plans for Malaysian fintech startups, the usual suspects are normally our ASEAN neighbors like Indonesia, Singapore, Philippines and Thailand. One country that is often not considered, but might be worth deeper inspection the next time

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BNM Issues e-KYC Exposure Draft for Money Changers

Following the introduction of e-KYC guidelines for remittance companies in 2017, Bank Negara Malaysia issued an exposure draft which expands similar e-KYC guidelines for money changers in Malaysia. The draft outlines proposed mininum requirements and standards that a licensed money

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BNM: E-Wallets Need to Move Beyond Cashbacks to Be Sustainable

During his keynote speech at the “Malaysian E-Payments Excellence Awards” Assistant Governor Adnan Zaylani Mohamad Zahid outlined the state of e-payments in Malaysia and the key strategic focus for Malaysia’s payments journey. Some key progress that we’ve made that was

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RHB’s New Credit Card Feature 3-Digit Security Codes That Automatically Refreshes

RHB unveiled today at their press conference, its latest fraud prevention technology for their card users. Partnering with Visa and IDEMIA, their credit card generates dynamic card verification value (CVV) security code on an e-paper mini-screen at the back of

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