Digital Banking in Malaysia: New Opportunities for Fintech aseanbriefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aseanbriefing.com Daily Mail and Mail on Sunday newspapers.
Malaysian banks embracing more technologies to build consumer trust
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The Malaysian financial ecosystem is expected to see positive growth, especially among banks. While the pandemic initially slowed down growth in banking, it is now picking up fast as sectors like e-Commerce are booming, and fuelling economic activity.
Today, more technologies are being implemented not just by banks but also by other financial players looking for a piece of the pie. The adoption of fintech in the Malaysian financial ecosystem is enabling organizations to unlock more potential, especially in regard to catering to growing consumer demands.
One of the most sought-after sectors in the industry is digital banking. The nation’s central bank, Bank Negara Malaysia (BNM), recently closed applications for digital banking licenses. The response has been beyond impressive, with a
Majority of consumers are eager to use digital banking in Malaysia
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The nation has seen a significant acceleration in digital adoption due to the pandemic in the past 18 months
In a recent study by Visa, it was highlighted that over 74% of Malaysians are aware and 66% are interested in using digital banking services.
Visa reckon it to be a good sign for the recent digital banking applicants in the country.
Banking in Malaysia isn’t often fun, but Malaysians can look forward to more financial options when digital banks start operating.
The nation’s central bank, Bank Negara Malaysia (BNM), recently closed applications for digital banking licenses. The response has been beyond impressive, with a large number of contenders vying for the five precious licenses on offer.
Visa hosted its annual Asia-Pacific Visa Security Summit last month and highlighted significant changes in the regional payment landscape, with the increasing demand for contactless payment technologies and a call for greater industry collaboration to tac
Visa, the world’s leader in digital payments, has released its Consumer Payment Attitudes study in Vietnam that sheds light on how behaviour has changed during the COVID-19 pandemic towards a cashless economy.