Virtual Banking

MyMy Secures Malaysia’s Largest Fintech Seed Funding Round of RM 12 Million
E-Wallets Funding Virtual Banking

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

Read More
How Will Virtual Banks Shape the Way Malaysians Bank
Virtual Banking

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

Read More
Bank Negara Malaysia Unveils New eKYC Guidelines Ahead of Its Virtual Banking Framework
Digital Transformation Virtual Banking

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

Read More
Great Eastern Invests US$70M in Axiata Digital — The Largest Fintech Investment in Malaysia Yet
E-Wallets Payments Virtual Banking

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

Read More
MACROKIOSK and Silverlake Collaborate to Tap into Virtual Banking Opportunities in Asia Pacific
Virtual Banking

MACROKIOSK and Silverlake Collaborate to Tap into Virtual Banking Opportunities in Asia Pacific

MACROKIOSK today announced that it will be collaborating with Silverlake to support virtual banks in Asia Pacific. In this partnership, both parties will join hands in researching and developing new products that will meet the needs of these digital banks.

Read More
4 Things to Know Before Building a Virtual Bank in Malaysia
Sponsored Virtual Banking

4 Things to Know Before Building a Virtual Bank in Malaysia

Ever since Hong Kong issued 8 virtual banking licenses in 2019, regulators from around the region are clamoring to each introduce their own framework. Malaysia is, of course, no exception. Bank Negara Malaysia Governor Nor Shamsiah announced last year that

Read More
Riding the Cloud to the Bank of the Future
Virtual Banking

Riding the Cloud to the Bank of the Future

Shifts in consumer behaviour towards digital services are resulting in monumental changes for the banking industry. Highly anticipated digital banking licenses will be awarded in Singapore and Malaysia this year, while the first of the winners of Hong Kong’s new

Read More
Sunway Group Eyeing Digital Banking License via Acquisition of Credit Bureau Malaysia
Virtual Banking

Sunway Group Eyeing Digital Banking License via Acquisition of Credit Bureau Malaysia

Sunway Berhad, via its 100% owned subsidiary, Sunway Holdings, is acquiring a 51% stake in Credit Bureau Malaysia. Upon completion of the acquisition, Credit Guarantee Corporation Malaysia Berhad (CGC) and Sunway Holdings will be the two shareholders of Credit Bureau

Read More
Johor State Government Eyeing to Launch its Own Digital Bank
Virtual Banking

Johor State Government Eyeing to Launch its Own Digital Bank

In a media statement issued on Wednesday, Johor’s Chief Minister Datuk Haji Hasni Mohamad announced the state government’s intention to launch its own digital bank. This announcement is made against the backdrop of Bank Negara’s upcoming digital banking framework which

Read More
Bank Negara Extends Virtual Banking Consultation Period Due to COVID-19 Distruptions
Virtual Banking

Bank Negara Extends Virtual Banking Consultation Period Due to COVID-19 Distruptions

The deadline for much anticipated virtual banking framework has been extended to 30th June 2020, it is said that this extension is due to disruptions caused by the COVID-19 outbreak. This follows their previous extension from February to April after

Read More