Virtual Banking

40 Parties Eyeing Malaysia’s Digital Banking License

During a virtual press conference today, Bank Negara Malaysia governor, Datuk Nor Shamsiah Mohd Yunus said to reporters that over 40 parties have registered their interest with the central bank to bid for a digital banking license. Malaysia’s digital banking

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Will Malaysia’s New Digital Banking Licenses Trigger a Wave of Innovation?

There’s an air of excitement ever since Bank Negara Malaysia issued its much anticipated digital banking framework. The introduction of this framework will allow a new breed of non-traditional players to enter the market with novel ideas and innovative technologies

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Bank Negara Malaysia To Issue up To 5 Digital Banking Licenses in 2022

Bank Negara Malaysia issued on 31st December 2020 the much anticipated digital banking framework, which followed a six month public consultation period. Plans for a digital banking framework was first announced in March 2019 and were initially scheduled to open

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Ping An’s Technology Arm OneConnect Expands to Malaysia

Ping An’s technology arm OneConnect announced today its expansion to Malaysia. In Hong Kong, One Connect is among the entities that secured a virtual banking license from the Hong Kong Monetary Authority. Meanwhile in Singapore, it is also supporting the

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Connecting People With Finance: Empowering the Financial Industry in the Intelligent Mobile Era

In the intelligent mobile era, Huawei — with its vision, insights, solutions, ecosystems, and experts — is uniquely positioned to create new value. The global outbreak of COVID- 19 has disrupted the lives and businesses of countless people, and the

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Huawei Developer Conference: Brett King Talks Financial Inclusion, Banking 4.0, and More

At the 2020 Huawei Developer Conference held earlier this week, fintech influencer, best-selling author, and entrepreneur Brett King joined the finance tech.session to talk about the role of technology to improve financial inclusion and shared his views on how banking

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MyMy Secures Malaysia’s Largest Fintech Seed Funding Round of RM 12 Million

MyMy today announced that it has secured Malaysia’s largest fintech seed round of RM 12 million at the valuation of RM 50 million. Koperasi Angkatan Tentera Malaysia Berhad led this fund raising round with an investment of RM10 million. The

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How Will Virtual Banks Shape the Way Malaysians Bank

As consumers behaviors shift to becoming increasingly digital, the financial services industry is forced to cater to changing nature of its customers. Regulators are also taking notice of the shift and gaps within the system and as a result, started

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Bank Negara Malaysia Unveils New eKYC Guidelines Ahead of Its Virtual Banking Framework

Bank Negara Malaysia issued its policy document on Electronic Know-Your-Customer (e-KYC) on Tuesday, which follows their earlier exposure draft in December 2019. This new policy is in effect immediately for all financial institutions including banks, insurers, remmitance companies, money changers

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Great Eastern Invests US$70M in Axiata Digital — The Largest Fintech Investment in Malaysia Yet

Axiata Digital the digital services arm of telco operator Axiata Group today announced a strategic investment of US$ 70 Million by Great Eastern to boost its fintech business across the region. Leading up this strategic investment, the Axiata Group and

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