Lending
Seedflex Expands Footprint to Malaysia With Seed Funding From 500 Global
Singapore-based fintech Seedflex Technologies has launched a new digital financing solution, “Pay-As-You-Sell Advance” (PAYS Advance), in Malaysia, with plans to expand across Southeast Asia. The initiative, supported by seed funding from venture capital firm 500 Global, targets micro, small, and
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FinDoc and CTOS Join Forces to Leverage AI in Loan Screening for Malaysians
Malaysian fintech firm FinDoc and CTOS Data Systems, a local credit reporting firm, have officially partnered to refine loan eligibility assessments through advanced AI technologies. This collaboration, confirmed by a Memorandum of Understanding (MOU), is set to broaden financial literacy
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Jaya Grocer Employees Gain Financial Flexibility with Paywatch’s On-Demand Pay
Jaya Grocer, a prominent supermarket chain in Malaysia, has announced a new partnership with Paywatch, a provider of earned wage access (EWA) services in Asia. This collaboration aims to provide Jaya Grocer employees with immediate access to their earnings to
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HSBC ASEAN Growth Fund Targets Scaling Digital Companies with US$1 Billion
HSBC has unveiled a US$1 billion ASEAN Growth Fund that targets six of the region’s most rapidly developing countries, aiming to enhance the capabilities of digital platform enterprises. The HSBC ASEAN Growth Fund includes Indonesia, Malaysia, Philippines, Singapore, Thailand, and
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Rize Offers In-App Personal Loans up to RM250,000
Al Rajhi Bank Malaysia’s digital banking arm, Rize, has introduced a Personal Financing-i campaign accessible through an in-app application without requiring collateral, a guarantor, or branch visits. Rize is offering personal financing options with a fixed profit rate starting at
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Boost PayFlex Expands Shariah-Compliant BNPL Across App and DuitNow QR
Malaysian e-wallet Boost has expanded its Shariah-compliant PayLater feature, called Boost PayFlex, to cover all transactions within its app as well as QR code payments. The credit line can be used for payments up to 3-month instalments at over 1.8
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Khazanah, CGC Digital Invests in Funding Societies to Bridge RM 90B Funding Gap
Malaysia’s sovereign wealth fund Khazanah Nasional and CGC Digital have made a strategic investment in SME digital financing platform Funding Societies. The sum was not disclosed. The investment is expected to enable Funding Societies to expand its reach beyond beyond
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BNM’s New Personal Financing Policy Defines FIs’ Approach to BNPL Offerings
The Bank Negara Malaysia (BNM) has released a new policy document on personal financing which took effect on 15 December 2023, with the goal of promoting responsible financing practices while discouraging unaffordable borrowing. This policy encompasses Buy Now Pay Later
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Funding Societies and HDC Join Forces to Boost Halal Business Financing
SME digital financing platform Funding Societies has tied up with the Halal Development Corporation (HDC) to provide Shariah-compliant digital financing to halal businesses. The partnership was officially cemented through a Memorandum of Agreement, signed by Syarina Hyzah Zakaria, Partnerships Lead
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Tackling the US$2 Trillion Funding Shortfall for Asia Pacific’s SMEs
Small and medium enterprises (SMEs) are vital in driving economic growth, particularly in developing countries, as they significantly contribute to the GDP and play a key role in job creation. According to the Asian Development Bank, SMEs make up 98%
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