Tagged: malaysia

March 29, 2021 @ 11:45 pm By JD Alois  |  

Ripple has agreed to acquire a 40% stake in cross-border payments Fintech Tranglo, according to a public release. Tranglo, based in Malaysia but operates across Asia, reports 1300 partners having completed 20 million transactions at $4 billion in value. Tranglo claims to be one of… Read More

March 27, 2021 @ 7:30 pm By Omar Faridi  |  

Digital wallet provider Boost recently revealed that it’s now a part of the PayNet Real Time Retail Payment Platform (RPP). Boost confirmed that it will be adopting DuitNow QR (beginning on March 26, 2021). DuitNow QR is the national QR code standard used in Malaysia…. Read More

March 27, 2021 @ 6:38 pm By Omar Faridi  |  

Aspirasi, an online micro-financing and micro-insurance platform operating under Axiata Digital, is providing a more convenient and all-digital financing option for online consumers via Aspirasi CashNow. Now available via digital commerce platform Lazada Malaysia, Aspirasi CashNow is currently open for applications to all Malaysia-based residents… Read More

March 15, 2021 @ 10:01 pm By Omar Faridi  |  

Malaysia-based Ouch!, a digital or online insurance company, has secured RM 1.5 million (appr. $360,000) in seed funding via a round led by Vynn Capital and Temokin, along with participation from several angel investors. The Ouch! team says it will use the capital raised from… Read More

March 5, 2021 @ 10:10 pm By Omar Faridi  |  

GHL Systems Berhad’s Malaysia-based business operations have reportedly added the ShopeePay mobile wallet to their digital payments acceptance options. The new payments service has been added after a recent partnership with ShopeePay Malaysia Sdn Bhd. Through the partnership, GHL will enable its offline merchant base… Read More

March 4, 2021 @ 10:07 pm By Omar Faridi  |  

MyMy, which aims to become the world’s first Shariah-compliant digital bank, and digital loan platform Sukaniaga Sdn Bhd recently confirmed their partnership which focuses on establishing a virtual banking consortium. They’re also planning to apply for one of the five digital banking licenses that will… Read More

February 26, 2021 @ 9:52 pm By Omar Faridi  |  

Bursa Malaysia, the nation’s stock exchange, is reportedly planning to work closely with Fintech firms or other strategic business partners in order to enhance its value proposition and improve its operational efficiency. Bursa Malaysia stated that these efforts should help the exchange grow and take… Read More

February 26, 2021 @ 6:51 pm By Omar Faridi  |  

The COVID-19 outbreak has forced individuals and businesses to adopt new working practices and move their operations online. This has led to a considerable increase in fraudulent activities being carried out via digital platforms, because many more transactions are now conducted online or via the… Read More

February 19, 2021 @ 8:29 pm By Omar Faridi  |  

Digital banking challenger BigPay has confirmed that it will be expanding its suite of financial services with the introduction of cash top up at all 7-Eleven stores based in Malaysia. BigPay’s management noted that more than 1.3 million of the firm’s Malaysian clients may now… Read More

February 19, 2021 @ 7:51 pm By Omar Faridi  |  

Southeast Asia-based Funding Societies, a digital financing platform, has revealed that it has made S$2 billion (appr. $1.5 billion) in disbursals of business financing to SMEs across the region as the company enters its sixth year of offering loans. Funding Societies’ management noted that the… Read More

February 17, 2021 @ 8:06 pm By Omar Faridi  |  

Malaysia-based Tranglo, a cross-border payment firm, has established four new payment channels that are connected to financial networks in Brazil, Ghana, Nigeria, and Uganda. The payment corridors mark the Fintech firm’s first entry into Sub Saharan Africa and Latin American (LatAm) regions. Tranglo’s management stated… Read More

February 12, 2021 @ 8:25 am By Omar Faridi  |  

During a recently-held online press conference, Bank Negara Malaysia Governor, Datuk Nor Shamsiah Mohd Yunus stated that more than 40 parties have formally expressed their interest with the reserve bank to acquire a digital banking license (by submitting an online application). Malaysia’s virtual banking framework… Read More

February 9, 2021 @ 9:42 pm By Omar Faridi  |  

Hong Leong Bank Berhad (MYX:5819), a major public listed banking group in Malaysia, has revealed that it’s launching a digital commerce platform that will offer an official store on Shopee Mall. This should allow HLB’s clients to sign up for various banking products and services… Read More

February 4, 2021 @ 9:07 pm By Omar Faridi  |  

Malaysia-based Kenanga Investment Bank Bhd, a financial services company that offers investment banking, stockbroking and investment management services, has reportedly acquired i-VCAP Management Sdn Bhd through its wholly-owned subsidiary Kenanga Investors Bhd (KIB). The acquisition was made after obtaining approval from the Securities Commission of… Read More

January 31, 2021 @ 10:34 pm By Omar Faridi  |  

Malaysia-based Versa, a digital cash management service provider, has confirmed the launch of its online platform through a partnership with Affin Hwang Asset Management. The all-digital platform may be accessed as a mobile application, Versa’s management noted. The app’s users are able to earn returns… Read More

January 31, 2021 @ 8:38 pm By Omar Faridi  |  

A survey performed by UK-based TransferWise, a leading online money transfer service, has provided insights on how the Coronavirus crisis has impacted consumer behavior, particularly how remittance payments are handled by individuals residing in Malaysia. The survey revealed that approximately 50% of people in Malaysia… Read More

January 27, 2021 @ 11:49 pm By Omar Faridi  |  

Malaysia-based CapBay, a peer to peer (P2P) supply chain financing platform, has reportedly acquired $20 million in capital via its Series A round. CapBay’s investment round saw contributions from existing investor KK Fund, a Singapore-headquartered VC firm that makes investments in startups or early-stage initiatives… Read More

January 27, 2021 @ 10:00 pm By Omar Faridi  |  

CIMB Bank Berhad and CIMB Islamic Bank Berhad have introduced CIMB CNY Go Digital for SMEs. This new product should help Asian businesses that are still facing challenges due to the COVID-19 pandemic, including those companies that are struggling to offer certain services because of… Read More

January 25, 2021 @ 9:45 pm By Omar Faridi  |  

Southeast Asia based StashAway, a digital wealth management firm focused on retail and accredited investors, recently revealed that it’s now managing over $1 billion in assets since launching operations back in 2017. StashAway’s management confirmed that they were able to generate these solid returns even… Read More

January 24, 2021 @ 8:51 pm By Omar Faridi  |  

TNG Digital, the digital wallet provider that was launched via a joint initiative between CIMB Bank and China’s Ant Financial (now Ant Group), is reportedly planning to secure $150 million in capital according to a recent report from Reuters. The Malaysian digital wallet operator, owned… Read More