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Fintech News
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BNPL Firm Atome Records 100X Order Volume Growth in Malaysia
Singapore-based buy now pay later (BNPL) platform Atome announced that its order volume in Malaysia has grown by 100X in the first half of the year.The company also added that its online and offline merchant network has grown to serve more than 500 retailers now, a 500% increase from when it first l
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CIMB’s EVA Chatbot Is Now Available To SME Customers
CIMB Bank and its Islamic subsidiary have introduced the EVA chatbot for small and medium enterprise (SME) customers, a conversational style and real-time commercial banking chatbot in Malaysia. EVA was first launched for retail customers in 2016 and was updated in 2018 to include additional functio
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CIMB’s EVA Chatbot Now Available To SME Customers at All Times
CIMB Bank and its Islamic subsidiary have introduced the EVA chatbot for small and medium enterprise (SME) customers, a conversational style and real-time commercial banking chatbot in Malaysia. EVA was first launched for retail customers in 2016 and was updated in 2018 to include additional functio
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Rebooting SME Banking in Southeast Asia
Despite playing a significant role in Southeast Asian economies, most small and medium-sized enterprises (SMEs) still have limited access to financing and remain to this day largely underserved by traditional banks.According to the World Bank IFC’s estimates, there is a US$320 billion SME funding
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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 through RinggitPlus.com, t
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Are Gig Platforms Doing Enough to Promote Financial Inclusion?
Comprising over 75 per cent of employment in Southeast Asia, gig workers provide the horsepower to fuel the region’s meteoric rise.Defined by its speed and convenience, the gig economy consists of individuals providing services on temporary or short-term contracts. These can range from delivery jo
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CapBay Introduces Guarantee Programme for P2P Investments Backed by a Reserve Fund
CapBay, a Malaysian P2P supply chain financing platform, launches CapBay Assure; a guarantee programme that protects an investor’s principal and interest through a reserve fund while ensuring net returns (after fees) of up to 6% p.a.The Assure Programme is designed to guarantee principal and inter
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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 digital adoption due to the pandemic in the pa
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Australia’s Fatfish Group to Roll Out its “PaySlowSlow” BNPL Services In Malaysia
Melbourne-based tech venture builder and accelerator Fatfish Group (FFG) announced that it is establishing a new retail Buy Now, Pay Later (BNPL) brand PaySlowSlow in South East Asia.PaySlowSlow will be its flagship brand that will be undertaking FFG’s retail BNPL business in Southeast Asia.FFG sa
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BigPay Pushes Into Thailand With Acquisition of Gojek’s Thai Payment Business
BigPay is accelerating its entrance into Thailand following Airasia’s recent acquisition of Gojek’s Thailand business through its digital arm in a deal worth RM208 million (US$50 million).This move comes ahead of AirAsia‘s plans to launch a super app in early August.According to The Edge, AirA
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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 the second tranche earlier this year, subj
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Atome Teams up With Pine Labs to Expand Its BNPL Acceptance in Malaysia
Singaporean Buy Now, Pay Later (BNPL) platform Atome announced that it has partnered with Pine Labs, an India-based merchant commerce platform, to expand its BNPL acceptance in Malaysia.They said that this offering enables seamless, flexible instalment payment options across over thousands of mercha
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MIDF’s New Digital Investment Platform Allows Malaysians to Invest in US Stocks and ETFs
MIDF Amanah Investment Bank, a subsidiary of Malaysian Industrial Development Finance (MIDF), unveiled its online investment platform MIDF Invest which allows Malaysians to invest in stocks and ETFs listed on the New York Stock Exchange (NYSE) and Nasdaq.The MIDF Invest app that provides tutorials a
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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 July 2021 to include new developments. With the deadline for Malaysia’s digital banking license application being less than a day away, a majority of the players are surprisingly still coy about co
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ANGKASA Joins Digital Banking Bid With Boustead to Serve 7 Million Cooperative Members
Angkatan Koperasi Kebangsaan Malaysia Berhad’s (ANGKASA) subsdiary MyAngkasa Digital Services, Boustead Holdings Berhad, and another party that they described as ” one of the world’s largest independent insurance brokerage company ” to apply for an Islamic digital banking license from Bank N
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Bank Negara Malaysia Received 29 Applications for Digital Banking License
Bank Negara Malaysia confirmed today in a statement that it has received 29 applications for a digital bank licence under the Financial Services Act 2013 and the Islamic Financial Services Act 2013, following a 6-month application period, which ended on 30 June 2021.The central bank said that a dive
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Presto’s Parent Firm PUC Bids for Digital Banking License with 2 State Governments
E-commerce platform PUC announced that it has formed a consortium with two unnamed state governments and a conglomerate to submit an application for a digital bank license to Bank Negara Malaysia (BNM).The consortium is led by PUC, making it a wholly Malaysian consortium.PUC was formerly known as 11
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BigPay Enters into Digital Banking Bid with MIDF and Ikhlas Capital
BigPay has officially submitted its application for a digital banking licence to Bank Negara Malaysia.BigPay’s consortium include Malaysian Industrial Development Finance Berhad (MIDF), Ikhlas Capital and a foreign conglomerate with fintech expertise. They said in a statement that each of the cons
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Grab Confirms Digital Banking Bid in Malaysia with Singtel and “Malaysian Investors”
Following statements issued by Singtel to Singaporean press, Grab confirms that it has applied for a digital banking license through a joint venture between Grab and Singtel as part of a consortium of other Malaysian investors.The Grab-Singtel consortium had also previously successfully bid for a di
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Split Emerges as First Malaysian Shariah-Compliant Buy Now, Pay Later Operator
Buy Now, Pay Later (BNPL) platform Split announced that its services has been reviewed and certified as a Shariah-compliant by the Masyref Advisory, a local advisory firm devoted to Islamic banking and finance.Split said that it is the first BNPL operator to have their offerings certified as Shariah
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