Virtual Banking

Bank Negara Malaysia Lays Out Its Vision for Digital Banks As Deadline Looms
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Bank Negara Malaysia Lays Out Its Vision for Digital Banks As Deadline Looms

On 31st December 2020, Bank Negara Malaysia (BNM) unveiled its digital banking guidelines which almost immediately garnered interest from 40 parties. In this new guideline, the central bank will be issuing up to 5 digital bank licenses in 2022, with

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BNM Tells Lobby Groups to Respect the Digital Bank Licensing Process
Virtual Banking

BNM Tells Lobby Groups to Respect the Digital Bank Licensing Process

During a Fintech Fireside Asia chat session organised by Fintech News Malaysia today, Suhaimi Ali, Director of Innovation and Development at Bank Negara Malaysia (BNM) tells digital bank applicants to respect the process. He highlighted that they are seeing a

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Pertama Digital’s Bizarre Choice for a Digital Banking Consortium
Virtual Banking

Pertama Digital’s Bizarre Choice for a Digital Banking Consortium

Last week, Bursa-listed Pertama Digital announced alternative financing operator Crowdo as its first consortium partner for its digital banking bid. Pertama Digital, through its subsidiary Dapat Vista, is primarily a digital payment platform focused on consumer-to-government payments with solutions like

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Boost to Hold 60% Equity in Axiata and RHB’s Digital Bank Bid
Virtual Banking

Boost to Hold 60% Equity in Axiata and RHB’s Digital Bank Bid

Axiata and RHB today confirmed market rumours that have been floating around for months that they are in talks to jointly bid for Bank Negara Malaysia’s digital banking license. Boost Holdings, a subsidiary of Axiata Digital which houses the group’s

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Malaysia’s Incumbent Banks Gears up for the Entry of New Digital Banks
Editor's Pick Virtual Banking

Malaysia’s Incumbent Banks 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
Virtual Banking

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
Virtual Banking

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
Virtual Banking

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
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?
Virtual Banking

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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