Blog

HSBC Succesfully Pilots Malaysia’s First Letter of Credit Transaction on the Blockchain

HSBC announced that it has successfully executed a live blockchain Letter-of-Credit (LC) transaction in Malaysia. The transaction involved the import of resin by Malaysia’s Simply Packaging Sdn Bhd (Simply Packaging) from a Singaporean company, both active players in the packaging

Digital Transformation

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,

Digital Banking

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

Payments

Touch ‘n Go E-Wallet Powers Cashless Payment Option For MULA’s E-Hailing Services

Touch ‘n Go e-wallet announced today that they have enabled customers of e-hailing app MULA to go cashless through their e-wallet. Ignatius Ong, CEO, TNG Digital Sdn Bhd told Fintech News Malaysia in a media statement that it is vital

Crowdfunding

Ata Plus Sees First Successful Equity Crowdfunding Exit with Skolafund

Skolafund, a crowdfunding platform for students in need announced that it has been completely acquired by one of Asia’s biggest donation crowdfunding platforms. Skolafund successfully fundraised on the Ata Plus Equity Crowdfunding (ECF) platform in February 2017. The deal reportedly

Banking

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

Payments

Stripe Teams up with PayNet and Launches in Malaysia

Today, Stripe, a global technology company that builds economic infrastructure for the internet, announced its official launch in Malaysia. It also announced a partnership with Payments Network Malaysia Sdn Bhd (PayNet) to make FPX available to businesses in the country.