Virtual Banking

KAF Names Cradle Fund’s Rafiza Ghazali as CEO of Its Islamic Digital Bank

KAF Investment Bank announced that it has appointed Rafiza Ghazali as the CEO of its Islamic digital bank. The KAF-led Islamic digital banking consortium comprising MoneyMatch, Carsome and Jirnexu had won one of the five digital bank licenses from Bank

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MoneyMatch Set to Raise Series B Following Digital Bank License Win

Malaysian fintech startup MoneyMatch announced that it is one of the participants of the consortium led by KAF Investment Bank which was recently selected to receive an Islamic digital banking license in Malaysia. The consortium also comprises Jirnexu, best known

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Aeon Credit and MoneyLion Consortium Set to Launch Islamic Digital Bank in 2024

The consortium comprising AEON Credit alongside its parent company AEON Financial Service and neobank MoneyLion has secured an Islamic digital banking license in Malaysia. Initially, AEON Credit and AEON Financial Service shall each hold 45% equity interest in the proposed

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Boost and RHB Geared to Offer Greater Financial Inclusion With Digibank License

Boost, the fintech arm of Axiata Group and RHB Banking Group has secured the highly anticipated digital bank license issued by Bank Negara Malaysia (BNM). In June last year, the partnership between Boost and RHB to form a digital bank

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Grab to Hire 200 Staff for Its New Digital Bank in Malaysia

Grab Holdings Limited (NASDAQ: GRAB) and Singtel announced today that GXS Bank Pte. Ltd., their digital bank joint venture, and a consortium of Malaysian investors including Kuok Brothers Sdn. Bhd (the “Malaysia digital bank consortium”) have been selected to receive

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Bank Negara Malaysia Announces Much Anticipated Digital Banking Licenses

After a month of delay, Bank Negara Malaysia (BNM) finally announced the list of successful applicants. The framework which was first issued on 30th December 2020, was hotly contested and attracted 29 parties to bid for the licenses. The central

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Al Rajhi Picks Moneythor to Roll Out Data-Driven PFM Offering for Its Digibank

Al Rajhi Bank Malaysia (ARBM) announced that it has selected Moneythor, a Singaporean digital banking solution provider, to integrate personal financial management (PFM) features into its upcoming digital bank in Malaysia. The bank said that it will deploy Moneythor’s PFM

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Singaporean Neobank IN Financial Technology Acquires MyCash

Singaporean neobank IN Financial Technology (INFT) has fully acquired MyCash Money, a money transfer company focused on migrant workers, for an undisclosed sum. INFT is an end-to-end, employer to employee fintech platform that empowers micro and small businesses in Asia

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Al Rajhi Appoints New Digital Bank Head, Sets up New Office to House Team

Al Rajhi Bank Malaysia announced that it has appointed Ikram Khaliq as Head of Digital Bank and has set up a new office to support its growth plans. This new workspace located in Menara Hap Seng 3, Kuala Lumpur will

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Al Rajhi Malaysia Picks Thought Machine to Build its Islamic Digital Bank

Al Rajhi Bank Malaysia has selected Thought Machine, a cloud native core banking technology firm, to power their upcoming “next-generation digital bank”. The bank had embarked on a multi-year digital transformation in 2021 and will deploy Thought Machine’s core banking

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