Digital Banking

RHB Invests RM8.6 Million in Boost Bank, Maintains 40% Stake in Digibank

RHB Bank has further invested RM8.6 million in Boost Bank, subscribing for an additional 8.6 million shares to maintain its 40% stake in the digital banking venture. According to The Star, this follows Boost Holdings Sdn Bhd’s (BHSB) similar injection

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Bank Islam to Offer Digital Takaful Solutions on Be U App with Zurich and Senang

Zurich Malaysia, local insurtech firm Senang.io, and Bank Islam have joined forces to introduce digital takaful solutions via the Be U by Bank Islam app. Be U by Bank Islam is a fully cloud-native digital banking proposition and the app

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Malaysia’s First Islamic Digital Bank, AEON Bank Receives BNM Nod to Launch

AEON Credit Service (M) Berhad today announced AEON Bank (M) Berhad has obtained approval from the Bank Negara Malaysia (“BNM”) and the Minister of Finance to commence its digital banking operations in Malaysia. The digital bank was formerly known as

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Boost Bank Receives Nod from BNM to Launch its Digital Bank

Boost and its consortium partner, RHB Banking Group (RHB), received official approval from Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF) to commence operations as a digital bank, with effect from 15th of January 2024. The consortium will

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GXBank Racks Up 100,000 Users in Less Than Two Weeks Since Launch

GXBank, Malaysia’s first digital bank and a subsidiary of Singapore’s GXS Bank, announced that it has already signed up over 100,000 customers since its launch less than 2 weeks ago on 30 November 2023. The newly-minted digital bank, spearheaded by

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Malaysians Can Now Download the GXBank for Their First Digibank Experience

GX Bank Berhad (GXBank) has officially launched its digital bank app for the Malaysian public, one of the first Bank Negara Malaysia’s (BNM) licensees to do so. The digital bank had previously undergone a beta testing phase with 20,000 local

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iFAST Invests RM150 Million in New Malaysian AI Hub Over Next 5 Years

iFAST Corporation, a digital banking and wealth management platform headquartered in Singapore, has launched its iFAST Global Hub.ai in Malaysia as part of its three-year growth plan to establish its global presence. The newly transformed hub, previously known as iFAST

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Kid-Focused Neobank Vircle Nets Seed Funding From Gobi, KMP

Vircle, a Malaysian neobanking service provider for kids, has secured seed funding from co-lead investors Kumpulan Modal Perdana (KMP) and Gobi Partners. Details of the funding was not disclosed. Gobi made the investment through the Gobi Dana Impak Ventures (GDIV)

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Backbase’s ENGAGE Asia 2023 to Kick off in Bangkok This November

Banking leaders find themselves at that pivotal time of the year when they must strategise their transformation goals for the upcoming year. In Asia, digital banking has become ingrained in consumers’ lifestyles, evolving into a core expectation and a decisive

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What Does it Take to Build a Bank from Scratch?

The digital banking landscape in Malaysia has been undergoing a remarkable transformation since Bank Negara Malaysia issued five digital banking licenses just over a year ago. These licenses have paved the way for pioneering digital banks to revolutionise the financial

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