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...
FOMO Pay Partners with Notabene to Elevate Compliance Capabilities and Strengthen Security for Digital Asset Transactions
FOMO Pay has formed a strategic partnership with Notabene to enhance its compliance capabilities for digital asset transactions. This collaboration bolsters FOMO Pay’s commitment to regulatory adherence and customer data security. 29 August 2023 – FOMO Pay, a renowned leader in digital payment and digital banking solutions headquartered in Singapore, has announced a strategic collaboration with Notabene, a pioneering...
Central Banks of Indonesia, Malaysia, and Thailand Foster Bilateral Currency Cooperation to Strengthen Regional Economic Ties
Bank Indonesia, Bank Negara Malaysia, and the Bank of Thailand have collectively signed bilateral MoUs to foster cross-border transactions in local currencies, signaling a progressive shift from earlier agreements. The enhanced framework not only covers a broader spectrum of eligible cross-border transactions but also aligns with cross-border payment initiatives, aiming to bolster regional financial stability and intensify economic...
Economic Downturn Fears Grip ASEAN Consumers Amidst Surging Digital Banking Adoption, Reveals UOB Study
The UOB ASEAN Consumer Sentiment Study 2023 highlights growing concerns about an economic downturn across ASEAN countries due to rising inflation and increased expenses. However, the study also shows a significant uptick in the adoption of digital banking and payment channels. Over 70% of respondents expect an economic downturn, and mobile banking app usage increased by 55%, while e-wallets and QR code-based payments gain popularity....
OCBC Bank Launches Innovative OCBC 90°N Visa Card, Tailoring Rewards to Discerning Travellers’ Preferences
OCBC Bank introduces the OCBC 90°N Visa Card, offering travel-themed rewards and versatile cashback options for everyday spending. The card aligns with the resurgence of travel plans and popular demand for rewards, targeting Malaysian travellers seeking tailored benefits for their journeys. 17 August 2023 – OCBC Bank (M) Bhd has introduced the OCBC 90°N Visa Card, a travel-themed credit card designed to cater to...
Maybank Introduces Pioneering ‘Green’ Credit Card with Carbon Footprint Monitoring for Eco-Conscious Consumers
Maybank has launched the innovative myimpact credit card, the first of its kind in Asean, featuring a Carbon Footprint Calculator that tracks carbon emissions from transactions. This eco-friendly card appeals to environmentally conscious users and aligns with Maybank’s sustainability initiatives, offering benefits such as no fees and the ability to support reforestation projects to offset carbon footprints. 17 August 2023...
CIMB Launches Innovative Sustainable Branch, Pioneering Inclusive and Eco-friendly Banking
CIMB Bank Berhad and CIMB Islamic Bank Berhad have introduced an innovative branch at IOI City Towers in Putrajaya, featuring integrated sustainable features in a GBI-certified building. The branch embodies CIMB’s commitment to environmental sustainability and inclusivity, showcasing an ESG-first approach with a suite of sustainable banking solutions. This initiative aligns with CIMB’s broader goal to achieve carbon...
Promoting Linguistic Excellence: BNM and DBP Spearhead Piala Gabenor Speech Contest
Bank Negara Malaysia and Dewan Bahasa dan Pustaka have successfully organized the Piala Gabenor Speech Contest, fostering the use of the national language within the financial sector. The event witnessed a competitive final round with participants addressing financial education and current economic issues while adhering to challenging speech criteria. 8 August 2023 – In a concerted effort to elevate the stature of the national...
Bank Simpanan Nasional (BSN) Partners with Visa to Empower Micro SMEs Through E-Commerce Enablement
Bank Simpanan Nasional (BSN) and Visa have formed a strategic partnership to introduce the ‘Accelerate My Business’ (AMB) program, a training initiative aimed at fostering e-commerce capabilities for micro-SMEs. The program, scheduled to begin in August 2023, focuses on imparting digital commerce skills to empower 750 carefully selected BSN micro-SMEs, driving their growth and enabling them to navigate the evolving...
AEON Credit Service to Invest RM175 Million in Digital Islamic Banking Sector
AEON Credit Service plans to invest RM175 million to establish its presence in the digital Islamic banking sector through a joint venture with AEON Financial Service. This strategic move aims to offer a comprehensive range of financial products and services to underserved market segments, driving financial inclusion and capitalizing on the growing demand for digital Islamic banking services in Malaysia. 14 July 2023 – AEON...
Singapore’s Digital Banks Advocate Deposit Cap Removal to Foster Growth and Competition
Singapore’s digital banks, backed by Grab Holdings and Sea Ltd., are pressing the Monetary Authority of Singapore to remove the deposit cap hindering their growth and lending abilities. With profitability targets to meet, these banks seek to scale and compete with traditional banks while assuring consumer protection and long-term viability. 14 July 2023 – Singapore’s digital banks, backed by industry giants Grab...
