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UK’s Cross-Border Payments Fintech WorldRemit Introduces Money Transfer Services in Malaysia

August 15, 2021 @ 9:14 pm By Omar Faridi |

WorldRemit, a UK-based digital cross-border payments firm, recently introduced its money transfer services in Malaysia’s markets through its app and web-based platform. Clients are now able to send funds from Malaysia, in addition to 50 other nations including the United Kingdom and the US, to… Read More

Cross-Border QR Payments Linkage Established by Bank Negara Malaysia and Bank of Thailand

June 20, 2021 @ 4:01 pm By Omar Faridi |

Bank Negara Malaysia (BNM) and the Bank of Thailand (BoT) recently revealed that they’ve introduced a cross-border QR payment linkage between the two countries. Under this linkage, both consumers and merchants residing in Malaysia and Thailand can make and receive instant, cross-border QR code payments…. Read More

Razer Fintech CEO Says Company Is Building Digital Banking Infrastructure from Scratch, Doesn’t Have “Legacy Issues”

September 28, 2020 @ 6:34 pm By Omar Faridi |

Razer Fintech’s management has said that the company is planning to acquire a virtual banking license and that it’s willing to work independently or as part of a consortium. The Bank Negara Malaysia (BNM), the nation’s central bank, has confirmed that it will issue five… Read More

Fintech Regulators in Malaysia Aim to Establish a “Level Playing Field” for Businesses Operating in the Same Market Segment

August 20, 2020 @ 11:41 pm By Omar Faridi |

Malaysian Fintech firms are regulated according to the requirements provided by Bank Negara Malaysia (BNM), the nation’s central bank. Suhaimi Bin Ali, director of the Financial Development and Innovation Department at BNM, explained (during the introduction of the Fintech Booster program earlier this month): “We… Read More

Bank Negara Malaysia Releases Updated Exposure Draft for Digital Banks, Proposing Simplified Regulatory Framework for Banking Challengers

March 5, 2020 @ 10:15 pm By Omar Faridi |

Bank Negara Malaysia (BNM) has released an updated exposure draft, which covers the licensing guidelines for all-digital banks. The draft from the nation’s central bank proposes a simplified set of regulations for neobanks. Bank Negara officials noted that the simplifications intend to reduce regulatory pressure… Read More

Fintech Firms in Malaysia will be Supported by Established Financial Institutions as they Apply for a Digital Banking License, Senior Analyst Says

January 7, 2020 @ 8:09 pm By Omar Faridi |

The ongoing race and competition between local Fintech firms for acquiring a digital banking license in Malaysia continues to intensify, particularly after Bank Negara Malaysia (BNM), the nation’s central bank, revealed additional details regarding the licensing process. BNM’s Exposure Draft on Licensing Framework for Digital… Read More