Digital channels have provided the banking industry the position to evolve for an increased customer base, new markets and products. Banking customers will now need a higher level of access on mobile apps to remap their traditional engagement tactics.
The release of Bank Negara Malaysia (BNM)’s Exposure Draft on Licensing Framework for Digital Banks will set the scene for one of the biggest disruptions to the financial services market in decades. In a move to boost sustainable economic growth, BNM’s call to action for digital banks to ...
Malaysia has finally joined regional peers in the digital banking revolution, after its central bank announced last week that it has granted digital banking licences to five applicants. However, the new challengers are unlikely to shake up the banking sector, according to rating agency Fitch, which...
AEON Bank (M) Bhd (formerly known as ACS Digital Bhd) has announced approval from the Bank Negara Malaysia (BNM) and the Ministry of Finance to commence its digital banking operations in Malaysia, positioning it as the first Islamic digital bank in the country. The approval was...
One key observation on the strategy taken by the Malaysian market is its focus of betting on players with a profitable digital banking model. This can be seen fromBNM’s assessmentcriteria. It emphasised the character and integrity of applicants, nature and sufficiency of financial resources, sound...
AEON Credit Service (M) Bhd announced that its associated company, AEON Bank (M) Bhd, has obtained approval from Bank Negara Malaysia (BNM) and the Minister of Finance to launch digital banking operations in Malaysia, making AEON Bank the country's inaugural Islamic digital bank. ...
One of the names had been GXS Bank-Kuok Brothers. GXS Bank is the Grab-Singtel consortium that was granted a digital banking licence in Singapore. Operating under the nameGXBank, the digital bank releases its beta app today, November 14. ...
MALAYSIA: Pertama Digital has submitted its Islamic digital banking license application to Bank Negara Malaysia (BNM) on the 30th June 2021, a bourse filing confirmed. Restricted access Login to continue reading (existing subscriber) Username or Email Address Password Remember Me Lost your ...
(GXBank), led by Grab, is the first among the five digital bank license applicants to receive approval to commence operations. This approval was granted by the Minister of Finance and Bank Negara Malaysia (BNM), and it precedes the April 2024 deadline set by BNM. GXBank successfully ...
2.Scalability- The same system that manages the Alibaba Ecosystem across e-commerce, Financial technology, and Digital Banking brings forth with it solutions that fit right into Touch 'n Go eWallet's business goals and objectives. 3.Agility- The cloud works for across a variety of form factors...