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CTOS IDGuard Thwarts Credit Fraud to the Tune of RM79 Million in One Year
CTOS IDGuard an application fraud bureau, said that it has prevented confirmed fraudulent credit applications to the tune of RM28 million in the first 12 months of operation. Additionally, CTOS IDGuard had also flagged a further RM51 million in suspicious
Read MoreBerjaya Corp Sells off 30% Stake in Razer Fintech for More Than RM220 Million
Malaysian conglomerate Berjaya Corporation (BCorp) announced that it has sold off 30 percent of its equity interest in Razer Fintech to Razer Midas for US$53.57 million (approximately RM223.89 million). BCorp will be holding on to the remaining 19 percent stake
Read More8 Technology Requirements to Consider When Future-Proofing Your BNPL Offering
As the BNPL space expands rapidly, organisations need to infuse their go-to-market strategies with advanced technology to make these programs sustainable – to manage risk and respond quickly to market needs, and to be agile to shift as needed to
Read MoreMCIS Life Acquires 4.99% Stake in Merchantrade
MCIS Insurance (MCIS Life) has taken up a 4.99% stake in Merchantrade Asia, a Malaysian money services business provider, for an undisclosed sum. The acquisition is set to accelerate MCIS Life’s digital transformation journey and leverage on Merchantrade’s digital capabilities,
Read MoreBoosting Fraud Prevention and AML While Preserving the Customer Journey
As the technologies that power the world of banking and financial services grow more sophisticated, so are the threats vectors affecting them. And although financial service providers are leaning heavily on technology to power next-gen products and services, perhaps the
Read MoreBNM Restores CTOS’ Access to CCRIS After Nearly 2 Months Suspension
CTOS’ access to the Central Credit Reference System (CCRIS) has been restored by Bank Negara Malaysia (BNM) effective Wednesday onwards. On 30 September 2021, BNM issued a temporary suspension of CCRIS’ access to all Credit Reporting Agencies as a precaution
Read MoreMalaysian Insurtech Fatberry Acquires MooMoo to Expand Its Footprint to Thailand
Malaysian insurtech platform Fatberry.com announced that it has expanded its footprint to Thailand through the acquisition of Bangkok based MooMoo Non-Life Insurance Broker (MooMoo) for an undisclosed amount. MooMoo started as a non-life insurance broker in 2014, offering motor insurance
Read MoreFunding Societies Launches Referral Scheme for MUFG Malaysia’s Corporate Clients
Southeast Asian SME digital financing platform Funding Societies has partnered with MUFG Bank Malaysia, a subsidiary of Mitsubishi UFJ Financial Group to launch a Referral Scheme Programme exclusively for the bank’s corporate clients in the country. The collaboration aims to
Read MorePine Labs Partners StanChart to Offer Zero-Interest BNPL Option on Credit Cards
Standard Chartered’s customers in Malaysia now have the option to avail 0% instalment options on credit cards at any offline point-of-sale powered by merchant commerce platform Pine Labs. The over 25,000 merchant outlets in Malaysia that run on Pine Labs
Read MoreBank Negara Malaysia Leading Efforts to Regulate Buy Now Pay Later Schemes in 2022
Bank Negara Malaysia (BNM) announced today that it is driving inter-agency efforts to enact the Consumer Credit Act in 2022. Datuk Nor Shamsiah Mohd Yunus, Governor of BNM said that this will strengthen regulatory arrangements for all consumer credit activities
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