Posts From Vincent Fong

How Are Malaysia’s 5 Largest Banks Responding to Fintech in 2019

Banks are often punching bags when one thinks of industries that are not innovating quick enough. When the term fintech entered our public consciousness many would often say that fintechs will eat the bank’s lunch and some even bold enough

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GrabPay Becomes First E-Wallet in Malaysia to Adopt DuitNow QR

PayNet and Grab jointly announced today that GrabPay has adopted Malaysia’s national QR payments standard, DuitNow QR; making GrabPay the first e-wallet in Malaysia to do so. This news follows Public Bank’s adoption of DuitNow QR earlier this June. DuitNow

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RAMCI is The Latest in Experian’s Investment Spree into Data Companies

Experian, the global information services company announced this week that they have acquired a controlling stake in local credit bureau RAM Credit Information Sdn. Bhd (RAMCI). This acquisition is the latest in Experian’s spree of investing in companies specifically with

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Luno Is The First Cryptocurrency Exchange to Receive Full Approval in Malaysia

The Securities Commission of Malaysia has given full approval to Luno’s application to operate as a Recognized Market Operator (Digital Asset Exchange). Luno is the first cryptocurrency exchange in Malaysia to receive this approval. The regulator has confirmed that Luno

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New York Based Wahed Invest Approved to Operate Malaysia’s First Islamic Robo-Advisor

American-based Wahed Invest halal robo-advisory platform announced today that they have successfully obtained regulatory approval from the Securities Commission Malaysia to offer digital investment management services in Malaysia. Wahed Invest is the 3rd to officially enter the Malaysian market after

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Tranglo’s Minority Shareholders Sues Hong Kong Based “Unicorn” TNG Fintech Group

Minority shareholders of Malaysian based payments company Tranglo has filed an oppression suit against TNG Fintech Group which acquired 60% of equity in Tranglo from Ekuinas in October 2018. In a media statement to Fintech News Malaysia, they claimed that

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A Glance at Malaysia’s Fintech Friendly Budget 2020

Malaysia’s Budget 2020 was tabled last Friday, charting the economic direction of the nation. Broadly speaking, there were some hits and misses but many agree that there was there is a bigger focus of building a digital economy. Surina Shukri,

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Budget 2020: Malaysia to Accept Virtual Banking License Application by 2020

During the tabling of Malaysia’s 2020 Budget, Finance Minister Lim Guan Eng announced that Malaysia’s much anticipated virtual banking framework will be ready for public consultation by end of this year and the final framework along with applications will be

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What is The Role of Fintech in Asia’s Growing Remittance Market?

In 2018, a record high of US$ 689 billion worth of remittance was made and US$ 529 billion of which were sent to low and middle-income countries. ASEAN, in particular, is a burgeoning region that is capturing the interest of

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EdgeProp First Property Crowdfunding to Receive Approval in Principle from SC

The Securities Commission Malaysia (SC) today announced that it has registered EdgeProp Sdn Bhd (EdgeProp) as the first Recognised Market Operator to establish and operate a property crowdfunding platform in Malaysia, following the revision of the SC’s Guidelines on Recognised

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