Virtual Banking

Genting Dips Toe in Digital Banking Bid Through 13% Stake In Acquisition in PUC

Following rumours that Genting Group would be bidding for a digital banking licensee, the group has inked a deal through GPVF Sdn Bhd to snap up a 13% stake for RM20.3 million in the publicly listed e-commerce platform PUC Berhad. GPVF

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Digital Bank Aspirants Cautions Incumbents Not to Be Complacent

In week two of Fintech News Malaysia and Huawei’s Digital Banking Symposium, we continue the conversation by speaking to Malaysia’s digital banking aspirants. In our previous session Malaysian incumbent banks’ CEOs remarked that while digital banks will shake things up,

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Malaysian Banks’ CEOs Say Digital Banks Are Shaking Things Up But Not a Threat

Regulatory changes, advances in technology, and the entry of new players in the Malaysian banking sector are forcing incumbents to embrace cutting edge technologies and build strategic ties to remain competitive, experts said during Huawei and Fintech News Malaysia’s Digital

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BigPay Raises up to US$100 Million for Its Digital Banking Aspirations

Digital bank aspirant BigPay announced today that it has finalised up to US$100 million in financing from South Korean conglomerate SK Group. This is the first time any portfolio company within airasia Digital has secured financing of this size. The

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Sarawak Emerges as the Third State To Bid for Digibank License With Kenanga, Revenue Group

The state government of Sarawak has joined forces with Kenanga Investment Bank and Revenue Group to submit an application for a digital banking license from Bank Negara Malaysia. The three entities formed a special purpose vehicle (SPV) for a consortium named

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Sabah and Pahang Revealed to Be PUC’s Consortium Partners for Digibank License Bid

Publicly listed PUC Berhad, the e-commerce platform that was formerly known as 11street, revealed that Sabah and Pahang are the two state governments that it has partnered with to bid for one of the 5 digital banking licenses that Bank

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Jirnexu Inked Deals With More Than Five Digital Banking Consortia

Malaysian fintech company Jirnexu announced that it has signed strategic partnership agreements with more than five consortia in their bids for a digital banking license. They said that with Jirnexu’s broad customer base and in-depth understanding of their financial needs

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Malaysia Displays Strong Readiness for Digital Banking Services, Visa Study Says

Visa released new findings from its study which highlighted that over 74% are aware and 66 percent are interested in using digital banking services. According to the Visa Consumer Payment Attitudes study, the nation has seen a significant acceleration in

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MoneyMatch Raises RM 18 Million Led by KAF Investment Bank, Confirms Digital Banking Bid

Malaysian fintech startup MoneyMatch announced today the successful closing of its Series A fundraising round totaling MYR 18.5 million over two tranches, initially led by Cradle Seed Ventures in 2019 and now has been closed with KAF Investment Bank leading

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Here Are All The Digital Banking Contenders in Malaysia (So Far)

Editor’s Note: This article was first written on 29th June 2021, was last updated at 11:00 am 5th August 2021 to include new developments.   With the deadline for Malaysia’s digital banking license application being less than a day away,

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