Posts From Vincent Fong

Digitisation a Key Agenda in Bank Negara’s Malaysia New Financial Sector Blueprint

Bank Negara Malaysia (BNM) today announced the launch of Malaysia’s five-year financial sector blueprint during the opening of MyFintechWeek 2022. The central bank has identified five strategic thrust that will anchor its efforts in the blueprint which includes; funding Malaysia’s

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Navigating the Evolution of Malaysia’s Financial Services in 2022

As we close the curtains on a turbulent year, it seemed fitting to reconnect with old friends, reflect on learnings for the year, and contemplate how to navigate a hopefully post-pandemic 2022. Which is why it was timely when the

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Insiders Reveal the Key Reasons Behind Razer Pay’s Demise

When there are too many holes on a ship, plugging one does little – water continues flowing in from the rest. Over time, these holes collectively bring down the ship. When Razer announced last week it was suspending its e-wallet

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Binance and CZ Faces Enforcement Action from SC For Illegal Crypto Activities in Malaysia

The Securities Commission Malaysia (SC) today announced enforcement actions against Binance for illegally operating a crypto exchange in Malaysia. The regulator ordered Binance to immediately disable access to its website and app within 14 days from 26th July 2021, immediately

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Here Are All The Digital Banking Contenders in Malaysia (So Far)

Editor’s Note: This article was first written on 29th June 2021, was last updated at 11:00 am 5th August 2021 to include new developments.   With the deadline for Malaysia’s digital banking license application being less than a day away,

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Bank Negara Malaysia Received 29 Applications for Digital Banking License

Bank Negara Malaysia confirmed today in a statement that it has received 29 applications for a digital bank licence under the Financial Services Act 2013 and the Islamic Financial Services Act 2013, following a 6-month application period, which ended on

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Grab Confirms Digital Banking Bid in Malaysia with Singtel and “Malaysian Investors”

Following statements issued by Singtel to Singaporean press, Grab confirms that it has applied for a digital banking license through a joint venture between Grab and Singtel as part of a consortium of other Malaysian investors. The Grab-Singtel consortium had

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BNM Tells Lobby Groups to Respect the Digital Bank Licensing Process

During a Fintech Fireside Asia chat session organised by Fintech News Malaysia today, Suhaimi Ali, Director of Innovation and Development at Bank Negara Malaysia (BNM) tells digital bank applicants to respect the process. He highlighted that they are seeing a

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IOUpay Touts Market Leadership for Months Despite Only Launching BNPL Solution Today

Australia Stock Exchange (ASX) listed IOUpay announced today the official launch of its Buy Now, Pay Later (BNPL) service, myIOU. IOUpay is a subsidiary of Malaysian technology firm iSentric who was best known within the industry for providing mobile banking

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Pertama Digital’s Bizarre Choice for a Digital Banking Consortium

Last week, Bursa-listed Pertama Digital announced alternative financing operator Crowdo as its first consortium partner for its digital banking bid. Pertama Digital, through its subsidiary Dapat Vista, is primarily a digital payment platform focused on consumer-to-government payments with solutions like

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