Mox Bank Named Among Fastest-Growing Digital Banks Globally by Oliver Wyman
Mox Bank Limited has been recognized as one of the fastest-growing digital banks globally by Oliver Wyman. The acknowledgment highlights Mox’s remarkable growth and innovative product offerings, with its CEO emphasizing a commitment to customer needs and agility in delivering solutions. 23 April 2024 – Mox Bank Limited (“Mox”) has earned recognition from global management consulting firm Oliver Wyman as one of...
Islamic Banking on the Rise: Mambu Study Reveals Growing Trend Among Millennials and Gen Z in Southeast Asia
Mambu’s research reveals that millennial and Gen Z Muslims in Southeast Asia, particularly in Malaysia and Indonesia, are increasingly embracing Islamic banking, with significant interest in Shariah-compliant products. The study underscores the importance of technology and ethical investments in banking services. 23 April 2024 – A recent study conducted by Mambu, a leading SaaS cloud banking platform, has unveiled a...
Cognizant and FICO Forge Alliance to Combat Fraud in Real-Time Payments with Innovative Cloud-Based Solution
Cognizant and FICO join forces to introduce a cloud-based real-time payment fraud prevention solution, leveraging AI and ML technologies to enhance security for banks and payment service providers in North America. The collaborative initiative aims to detect and block fraudulent transactions with precision, offering a seamless and secure consumer experience amid the proliferation of instant digital payments. 18 April 2024 –...
Brankas Makes History as First Indonesian Company Licensed for Account Information Services by Bank Indonesia
Brankas secures the prestigious PJP Category 2 license from Bank Indonesia, becoming the first Indonesian company licensed for Account Information Services (AInS). With approval for Payment Initiation and/or Acquiring Services (PIAS), Brankas expands its capabilities, offering secure real-time payment verification and automated prompts for insufficient funds, revolutionizing the Indonesian fintech landscape. 18 April 2024 –...
Bank Negara Malaysia to Hold 17th Auction of Special Serial Number Ringgit Banknotes
Bank Negara Malaysia is organizing its 17th Auction of ringgit banknotes featuring special serial numbers, with online bidding open from April 20th to April 27th, 2024, and onsite and live auctions occurring on April 27th, 2024, at Sasana Kijang, Bank Negara Malaysia. Unique serial number banknotes, including sets of the first 10 and super solid numbers, will be up for auction through BNM’s appointed auctioneer, MNP Auctioneers...
FinbotsAI and KBZ Bank Join Forces to Transform Credit Risk Management in Myanmar with AI-Powered Solution
FinbotsAI partners with KBZ Bank, Myanmar’s leading bank, to implement CreditX, an AI-powered credit scoring solution, revolutionizing credit risk management in the region. The collaboration aims to enhance operational efficiency, drive financial inclusion, and facilitate faster and more accurate credit assessments across retail and SME products. FinbotsAI, a Singapore-based B2B SaaS FinTech backed by Accel, has announced a...
Bank Negara Malaysia Takes Decisive Action on Banking Services Disruptions
Bank Negara Malaysia responds firmly to recent banking services outages, demanding prompt restoration, effective communication with customers, and comprehensive explanations from affected banks. Further supervisory actions threatened for institutions failing regulatory standards. 9 April 2024 – Bank Negara Malaysia (BNM) has issued a stern response to the recent disruptions in banking services experienced by two major Malaysian...
Brunei Darussalam and Lao P.D.R. Join Regional Payment Connectivity Initiative, Boosting ASEAN Financial Cooperation
Brunei Darussalam Central Bank (BDCB) and Bank of the Lao P.D.R. (BOL) have joined the RPC initiative, aimed at fostering faster, cheaper, and more inclusive cross-border payments within the ASEAN region, bringing the total number of participating central banks to eight. 3 April 2024 – Brunei Darussalam Central Bank (BDCB) and Bank of the Lao P.D.R. (BOL) have recently joined the Regional Payment Connectivity (RPC) initiative,...
Bank Negara Malaysia’s Annual Reports: Insights into Economic Resilience and Growth Strategies
Bank Negara Malaysia’s annual reports for 2023 underscore the nation’s economic resilience, with strategies to promote stability, support MSMEs, manage inflation, and enhance financial sector resilience. 20 March 2024 – Bank Negara Malaysia (BNM) has unveiled its highly anticipated Annual Report 2023 (AR 2023), Economic and Monetary Review 2023 (EMR 2023), and Financial Stability Review for Second Half 2023 (FSR 2H...
Bank Negara Malaysia Takes Stand Against Misleading Exchange Rate Data on Social Media
Bank Negara Malaysia rebuffs misleading exchange rate data circulated on social media, sparked by erroneous information from Google on 15 March 2024, emphasizing the importance of relying on official sources to mitigate financial risks. 16 March 2024 – Bank Negara Malaysia (BNM) has taken a decisive stance against the dissemination of inaccurate ringgit exchange rate information circulating on social media platforms. This action...
Mastercard and GX Bank Launch Malaysia’s First Unlimited Cashback Debit Card
Mastercard and GX Bank Berhad (GXBank) have launched Malaysia’s first unlimited cashback debit card, the GXBank Card (GX Card), offering users 1% cashback on various transactions. This collaboration aims to enhance financial inclusion and support Malaysia’s digital transformation. 24 February 2024 – In a groundbreaking collaboration, Mastercard and GX Bank Berhad (GXBank) have introduced Malaysia’s inaugural...
Maybank Islamic Pioneers Shariah-Compliant Portfolio Financing to Enhance Islamic Wealth Management
Maybank Islamic has become the first Islamic bank in Malaysia to launch a Shariah-compliant portfolio financing solution, enhancing its Islamic wealth management (IWM) offerings. The move aligns with the growing demand for ethical and purpose-driven investments, and Maybank Islamic aims for a 30 percent business growth by the end of the year with the introduction of this new solution. 24 January 2024 – Maybank Islamic Bhd has...
Gamuda Land and Alliance Bank Unite in Strategic Partnership to Strengthen Community Bonds
Gamuda Land and Alliance Bank have entered a strategic partnership, enabling Alliance Bank credit card users to leverage rewards points for Gamuda Land offerings, reinforcing a commitment to community bonds and placemaking efforts. The collaboration offers exclusive benefits for managing down payment repayments and additional perks for mortgage applicants, contributing to vibrant and interconnected neighborhoods. 24 January 2024...
Bank Negara Malaysia Addresses Misrepresentations Surrounding Quantum Metal Sdn Bhd
BNM clarifies that Quantum Metal Sdn. Bhd. (QMSB) is a reporting institution but emphasizes that its products and activities are not approved or licensed by BNM. The statement also addresses misinformation on social media regarding transaction approvals and warns against the misuse of BNM’s name. 22 January 2024 – In response to circulating claims and misrepresentations, Bank Negara Malaysia (BNM) has issued a statement...
Boost and RHB’s Boost Bank Gains Regulatory Approval, Paving the Way for Malaysia’s First Homegrown Digital Bank
Boost, the fintech arm of Axiata Group, in partnership with RHB Banking Group, has secured regulatory approval from Bank Negara and the Finance Ministry to commence operations as Boost Bank, a digital bank, starting January 15, 2024. The consortium, marking the first primarily Malaysian-owned digital bank, plans to address financial inclusion gaps and will undergo alpha testing before the public launch. 8 January 2024 – Boost,...
Mambu Soars as Key Cloud Banking Solution in AWS Marketplace, Pioneering Digital Transformation in Financial Services
Mambu, a leading SaaS cloud banking platform, has made a strategic move by becoming one of the first core banking providers on AWS Marketplace, strengthening its decade-long partnership with Amazon Web Services. This integration simplifies the cloud transition for financial organizations, enabling them to adapt swiftly to evolving customer demands while McKinsey’s research underlines the sector’s significant shift towards...
Affin Bank Unveils Affin Aura Credit Card with Versatile Benefits
Affin Bank has introduced the ‘Affin Aura’ credit card, offering a wide range of benefits in categories such as dining, shopping, travel, accommodation, beauty, health, and installment plans. With competitive interest rates and a lifetime annual fee waiver, this credit card aligns with Affin Bank’s commitment to responsible banking and superior customer service. 19 October 2023 – Affin Bank Bhd has introduced...
Bank Islam Achieves Milestone as First Islamic Financial Institution in Malaysia to Attain ISO 37001 Anti-Bribery Certification
Bank Islam Malaysia Berhad has achieved a remarkable milestone by becoming the first Islamic financial institution in Malaysia to obtain the ISO 37001 Anti-Bribery Management System (ABMS) certification. This recognition reflects the bank’s commitment to combat bribery and corruption and underscores its dedication to upholding the highest ethical standards. The ISO 37001 certification confirms that the bank has implemented...
Bank Islam Malaysia Elevates Digital Banking with Be U Visa Debit Card-i, Empowering Customers with Financial Control
Bank Islam Malaysia has introduced the Be U Visa Debit Card-i, reinforcing its digital banking presence with features like expense tracking and customizable settings. This innovative card offers a seamless and secure payment experience, contributing to the growth of digital payments in Malaysia. 7 September 2023 – Bank Islam Malaysia Berhad continues its forward march in advancing digitalization within the financial sector,...
Bank Negara Malaysia Appoints Adnan Zaylani as Deputy Governor for Financial Markets and Development
Encik Adnan Zaylani bin Mohamad Zahid has been appointed as Deputy Governor of Bank Negara Malaysia, with a comprehensive portfolio that includes overseeing Financial Markets and Development. With an illustrious career spanning nearly three decades at the Bank, Encik Adnan Zaylani brings rich expertise to his new role, contributing to essential committees and boards while upholding the institution’s commitment to excellence. 30...
