malaysia digital banking

Jan

Digital banking in Malaysia slowly advances

Malaysia has been one of the least hurried Asian countries when it comes to digital banking, owing to its middle-income status and high percentage of banked people – above 90%. The Malaysian central bank first mooted the idea of digital banks in December 2020 but nothing happened with regards to…

Oct

Asia Banking Research

Digital banks gradually go live in Malaysia

In April, The Ken reported that one of the reasons Malaysia’s digital banks have been slow to launch is that they have had trouble finding the right people to run the new businesses. Apparently, finding talent with the right mix of technological acumen and understanding of the banking business is…

May

Asia Banking Research

Big Tech and incumbent financial firms win Malaysia’s digital banking race

On April 29, Bank Negara Malaysia (BNM) awarded digital banking licenses to five consortia primarily led by large tech firms and incumbent financial institutions. The one exception was a consortium that includes Grab and Singtel and is co-led by Kuok Brothers, a massive conglomerate that focuses on real estate, shipping…

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malaysia digital banking