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Fintech News
The latest insights on the Fintech Malaysia landscape
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Research Finds Malaysian Banks That Fail to Digitise Face Extinction
A new global research report from the Financial Times Focus (FT Focus) and SaaS cloud banking platform Mambu has identified that three in five banks believe they will cease to exist within five to ten years if they do not change their business models.Meanwhile, two in three believe they will lose ma
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UOB Malaysia Taps Prudential’s Virtual Face-to-Face Feature to Offer Digital Insurance
UOB Malaysia has tied up with Prudential Assurance Malaysia Berhad (PAMB) to provide customers with a suite of insurance solutions through a new Virtual Face-to-Face (VF2F) feature on Pulse, the insurer’s all-in-one health and wellness app.The bank said that it the first in Southeast Asia to use t
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MDEC, FAOM Links up With 10×1000 to Offer “Flex” Fintech Programme in Malaysia
Fintech training platform 10×1000 Tech for Inclusion launched its global Fintech Foundation Programme Flex, an online certificate programme with the goal to bridge digital skills gap to drive inclusion.The Malaysia Digital Economy Corporation (MDEC) and Fintech Association of Malaysia (FAOM) will p
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Newly Minted Indonesian Fintech Unicorn Xendit Relocates Financial Hub to Malaysia
Indonesian payments unicorn Xendit will be relocating its financial hub to Malaysia, this was announced during a speech by Finance Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz during the launch of Malaysia’s Capital Market Plan 3.The Indonesian fintech firm recently earned its unicorn badg
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Experian Launches TrackMyID to Help Users Track Compromised Digital Identities
Multinational consumer credit reporting company Experian will extend its partnership with CyberSecurity Malaysia to empower Malaysians to protect their identity online.Experian has launched TrackMyID, an identity theft monitoring tool, to help Malaysian consumers track their digital identities that
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Boost Expands Insurance Offerings to Now Include Car Protection Coverage
Axiata Digital’s e-wallet Boost announced that it has expanded its insurance offerings with the launch of a car insurance “CarProtect”, which is underwritten by Great Eastern General Insurance (Malaysia) Berhad.The e-wallet said that “CarProtect offers customers protection in your pocket, al
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GHL Doubles Down on BNPL Offerings in ASEAN With Atome
GHL group’s payment touchpoints across Malaysia, Thailand, Philippines and Indonesia will now be able to offer Buy Now, Pay Later (BNPL) payment option to consumers, following a partnership with BNPL platform Atome.The group said that this alternative payment solution will further enhance customer
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Stronger Mobile Application Security Is the Key to Revenue Growth
Financial institutions have been moving towards expanding digitisation for years, offering remote banking services, and prioritising the customer experience in digital platforms.In 2020, however, the COVID-19 pandemic has dramatically accelerated this shift. With less access to bank branches, the mo
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AXA Taps Finology to Offer Its Users Digital Motor Insurance
AXA Affin General Insurance and Finology, a Malaysian fintech company that specialises in enabling seamless lending and insurance for consumers and businesses, has partnered to enable users to purchase or renew car/motorcycle insurance and road tax onlineThrough Finology’s Loanstreet.com.my, cust
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Insurtech Fatberry Adds Senior Executives to Help Drive Growth
Malaysian digital insurance platform, Fatberry.com said that it has continued to experience strong growth and has recently added two senior executives to its management team to further drive growth.Ms. Zoee Kong, Head of Partnership, and Mr. Rev Ong, Head of Traction, have recently joined the growin
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2w
AXA Taps Finology to Offer Its Users Digital Motor Insurance Offerings
AXA Affin General Insurance and Finology, a Malaysian fintech company that specialises in enabling seamless lending and insurance for consumers and businesses, has partnered to enable users to purchase or renew car/motorcycle insurance and road tax onlineThrough Finology’s Loanstreet.com.my, cust
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2w
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 is a wholly-owned unit of Kenyalang Borneo which is owned by Gen
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Kita Jaga App Looks to Crowdfund RM200,000 on GlobalSadaqah
Kita Jaga, a digital social mobile app aimed at supporting individuals and families most impacted by the ongoing effects of the COVID-19 pandemic, is looking to raise RM200,000 through a charity crowdfunding campaign on GlobalSadaqah.GlobalSadaqah is an Islamic social finance platform focusing on co
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Revenue Monster’s Merchants Can Now Tap Sarawak Pay’s Half a Million User Base
Malaysian fintech firm Revenue Monster has added state government owned e-wallet Sarawak Pay as a payment option to encourage the adoption of contactless payments.More than half a million users of Sarawak Pay e-wallet will be able to conduct transactions with Revenue Monster’s merchants, with acce
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HK Fintech Unicorn Airwallex Secures License for Cross Border Payments in Malaysia
Airwallex, a cross border payments company, announced that it has secured a money services business (MSB) license issued by Bank Negara Malaysia.They said, the new license will allow Airwallex to offer modern, streamlined and integrated international payment solutions for Malaysian businesses of all
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HK Fintech Unicorn Airwallex Secures License for Cross Border Payments in Malaysia
Airwallex, a cross border payments company, announced that it has secured a money services business (MSB) license issued by Bank Negara Malaysia.They said, the new license will allow Airwallex to offer modern, streamlined and integrated international payment solutions for Malaysian businesses of all
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Soft Space Partners Global Payments to Expand Tap-On-Phone Payments to Taiwan
Global Payments, a global provider of payment technology and software services, announced that it supports the Soft Space Mobile Tap, a new smartphone-based payment acceptance solution for merchants, in Taiwan.Developed by Malaysian fintech Soft Space, the solution provides merchants and consumers i
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MX Exchange Gets Green Light to Trade Cryptos, Appoints Former MDEC C-Level as CEO
MX Exchange has been granted full approval by the Securities Commission Malaysia (SC) to operate as Recognised Market Operator-Digital Asset Exchange (RMO-DAX) for the trading of cryptocurrencies in Malaysia, making it the fourth DAX permitted to operate in Malaysia.The trading platform has gone liv
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Islamic Crowdfunding Platform Ethis Raises RM6.8 Million From Angel Investors
Islamic crowdfunding group Ethis Global announced the closure of its RM6.8 million pre-Series A fundraising round from angel investors.This ‘Super Angel’ round was joined by notable investors including corporate leader Tan Sri Wan Zulkiflee, and Daud Vicary Abdullah, a renowned figure and thoug
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Green Packet’s OCIB Plunges Into Crypto With Conditional Investment Bank License
Oasis Capital Investment Bank (OCIB), a fully-owned subsidiary of Green Packet has been awarded the conditional investment bank license from the Labuan Financial Services Authority (LFSA).The company is looking to specialise in digital asset portfolio advisory, management services as well as bespoke
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