Virtual Banking

Malaysia’s Incumbent Banks Are Gears up for the Entry of New Digital Banks

In Malaysia, incumbents are gearing up for the entrance of the country’s first digital banks, accelerating digital transformation, planning standalone ventures, and partnering up with fintechs, top executives from CIMB Group, Bank Islam, RHB Banking Group, and Backbase said during

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Reports of the Death of Challenger Banks Are Greatly Exaggerated

Against the backdrop of the cacophony of noise and emerging trends in Asia, it’s difficult even for the keenest of observers to determine what trends will shape the future of fintech in Asia. On the 6th episode of Fintech Fireside

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Bank Islam Gears up For a Fully Digital Bank; Partners Mambu, Experian and Pod

Bank Islam, through its new division, Centre of Digital Experience (CDX), has been actively laying the foundation to set up a fully digital bank by forming partnerships with Mambu, Experian and Pod. Bank Islam has selected Mambu, a SaaS banking

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MyMy Forms Shariah-Compliant Digital Banking Consortium with Sukaniaga

MyMy and Sukaniaga Sdn Bhd announced their partnership to form a digital banking consortium and bid for one of five digital banking licenses to be issued next year by Bank Negara Malaysia (BNM). The parties said that while the collaboration

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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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