Banking

APAC Banks Are Backing Open Banking, but What Does ‘Open’ Really Mean?

A survey launched this week by Finastra revealed that close to 100% of financial institutions in Singapore and Hong Kong think Open Banking is important, with two thirds in Singapore calling it a “must have”. Open Banking has not only

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Maybank Expects eDuit Raya Transactions to Grow 30% for Hari Raya in the New Normal

Maybank is foreseeing a spike in festive giving via its online platform this year as Malaysians celebrate Hari Raya under a “new normal”. Datuk Hamirullah Boorhan, Maybank’s Head of Community Financial Services Malaysia says that the Bank is expecting a

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Unlocking the Value in Payments Data With Technology and Partnerships

Over the years, banks have been creating exponentially growing mountains of data – much of it with huge potential value. However, despite their ability to create it, banks have not always been good at making the best use of it.

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UOB Finlab’s Jom Transform Programme Sees 30% Increase in Productivity for its SME Cohort

UOB Malaysia and Finlab announced Wednesday that the SMEs that have completed their Jom Transform Programme are expected to see productivity rise up to 30% through digitalisation Launched in June 2019, The Jom Transform Programme is a business transformation programme

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Hong Leong Bets on a Digital Bank for its Expansion into Vietnam

In a bid to capture foreign markets, Malaysian banks are increasingly turning to launching a digital bank as a strategy. Hong Leong Bank announced recently that they have a launch a digital bank that they described as a next-generation, customer-centric

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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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Hong Leong Bank Launches eToken with Biometric Recognition for Businesses

Hong Leong Bank unveiled a new, secure and seamless eToken for their Corporate and Small-to-Medium Enterprises (SME) customers. The eToken has authentication technology built-in, with additional biometric facial recoginition technology for mobile devices which meets strict regulatory security requirements. This

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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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Bank Islam Announces Two Fintech Partnerships

Bank Islam announced partnership with two fintechs as part of its drive for digital transformation. The partnerships are namely with BerryPay and KiplePay, the e-wallet focused subsidiary of Green Packet Berhad. In said partnership BerryPay will help Bank Islam tap

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More Than Half of Hong Leong’s Customers are Now Digital

Hong Leong revealed today at their media briefing, a growing customer adoption of its digital platforms. They shared that over 64.4% of its customers are now utilising digital and mobile platforms for banking transactions as at the end of 2018,

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