Search Results for "Bank Negara Malaysia"
5 results for "Bank Negara Malaysia"
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Boost Bank Launches Digital Banking App in Malaysia via Axiata-RHB Partnership
Boost Bank, a joint venture between Axiata Group's Boost and RHB Banking Group, launched its digital banking app in Malaysia targeting unbanked populations. The app offers savings accounts and loyalty services. The venture received its digital banking license from Bank Negara Malaysia in January 2024, and the product went live in June 2024.
Boost-RHB Digital Bank Receives Malaysian Regulatory Approval to Commence Operations
The Boost-RHB Digital Bank Consortium received regulatory approval from Bank Negara Malaysia and the Ministry of Finance to commence operations as a digital bank effective January 15, 2024. The consortium, now branded as Boost Bank by Axiata and RHB, became the first primarily Malaysian-owned digital bank. The approval came ahead of schedule after a review confirmed the consortium's operational readiness and focus on financial inclusion for underserved markets.
GXBank Receives Malaysian Approval to Launch as First Digital Bank
GXBank, the Grab-led digital bank consortium in Malaysia, completed its operational readiness review and received approval from Bank Negara Malaysia and the Minister of Finance to commence operations. This makes GXBank the first of five digital bank licensees to launch, well ahead of the April 2024 deadline.
Fasspay Gains Bank Negara Malaysia Approval to Expand White-Label E-Wallet
Fasspay obtained Bank Negara Malaysia's approval to expand its white-label e-wallet service with increased transaction limits and new card capabilities. The approval enables Fasspay to issue physical Visa-branded prepaid cards, virtual cards, and supplementary account features linked to e-wallet applications. As one of the first regulated white-label e-wallet providers in Malaysia, this strengthens Fasspay's position as a BaaS infrastructure provider with four e-wallet partners.
UNCDF, Bank Negara Malaysia, and MDEC Launch Inclusive Fintech Accelerator
UNCDF, Bank Negara Malaysia (BNM), and Malaysia Digital Economy Corporation (MDEC) launched the Inclusive Fintech Accelerator Program. The initiative aims to help fintech startups develop inclusive finance solutions in areas like spending, saving, and borrowing. It fosters public-private partnerships to drive financial inclusion across Malaysia.