Foreword
Vincent Fong, Chief Editor, Fintech News Malaysia
Malaysia’s fintech sector continues to thrive on the back of a facilitative regulatory environment,
enterprising entrepreneurs and a rapidly growing digital population.
The increased demand for better and more inclusive financial services makes room for more and
more fintech startups to mushroom.
Compared to our 2021 report, the number of fintech firms in Malaysia have seen a 27% increase to
293, with payments still maintaining the lead as the largest fintech segment in Malaysia.
Malaysia has also hit a major funding milestone last year as we witnessed the first funding round to
exceed US$ 100 million with BigPay’s fundraising round led by SK Group.
As more and more innovative players emerge in Malaysia’s fintech space, we are bullish that we will see increased deal flows in the long-term despite
the funding winter lurking just around the corner.
However, in the short to medium term, players must brace themselves for challenging times as the next few years may very well be a crucial proving
ground to determine the fintech champions of Malaysia.
As the industry undergoes these interesting times, we look forward to continue reporting on the latest developments and trends in this space.
We hope that our platform and the Fintech Malaysia Report will continue to serve as a vital resource to keep a finger on the pulse of the industry for the
years to come.
I’d like to take this opportunity to thank Merchantrade, GHL, Vsure.life, and pitchIN for supporting in producing this report.
Vincent Fong
Chief Editor, Fintech News Malaysia
Foreword
Ramasamy K. Veeran, Founder & Managing Director, Merchantrade Asia
Continue Delivering Greater Social Impact through Digital Financial Services
The global pandemic crisis brought about an unprecedented impact and forever changed life as we know it. However, it did give
rise to the importance of digital services and through necessity, moved the world to its immediate adoption. The sudden need for
digitalised services introduced significant and positive changes in the industry and the consumers’ personal digital lifestyle. This
offered immediate solutions, greater possibilities of convenience and accessibility to a world in need.
At Merchantrade, our digital financial services experienced exponential growth over the last few years. Last year we witnessed
massive growth with onboarding of new customers, and a turnover of nearly USD2.5 billion via all channels. We saw how fast
technology could bridge the “need” gap, seamlessly connecting lives where it needed to. Our customers were able to continue
using vital services, such as the digital remittance app eRemit as well as Merchantrade Money, to send desperately needed funds
to loved ones overseas during lockdowns.
Besides the remittance services, our Merchantrade Money Prepaid Visa Card is a card-meets-eWallet product that’s becoming a
necessary service for employers and employees alike. Through Merchantrade Money, they are able to make digital purchases for
online or offline necessities through the eWallet.
Our philosophy has always been to ensure that our services continue to positively impact the lives of our customers in Malaysia and around the world through innovation. We
continually aim to improve our end-to-end digital ecosystem of meaningful financial services and delivery modes to deliver life-changing impact through tech, and change how
our customers live. Our greatest social impact yet has been in ensuring affordable insurance for the Malaysian B40 and OKU markets. We are proud to have ensured
protection of the underserved through our micro-insurance products through Merchantrade Insure.
There have been significant strides made in the development and adoption of fintech over the last few years, and there’s no sign of it slowing down with new technologies and
initiatives being introduced almost daily. We are very optimistic about the growth of the industry and are grateful to be growing alongside it while having a positive impact on
people’s lives. Here’s to an exciting year ahead as the world gradually recovers and the industry continues to push the boundaries of fintech.
Ramasamy K. Veeran
Founder & Managing Director, Merchantrade Asia
Foreword
Sean Hesh, Group Chief Executive Officer, GHL Systems Berhad
The payments industry has experienced a dramatic and transformational growth over the last 24 months. The next 35 years will further witness an acceleration of this transformation, creating an expanded growth opportunity in digital
commerce for GHL. Both public and private sectors are working towards future-proofing solutions that ensure
enhanced availability, accessibility and security of payments.
Digital transformation is not merely about technology, but rather on how we can maximise innovation for increased
efficiency and improved customer experience. GHL is focused on products and services that can drive the creation of
a holistic payment ecosystem, tailored to the needs of our various stakeholders.
As one of the eight approved pioneer 'Credit Community' providers under the Ministry of Housing and Local
Government, we have rolled out digital lending services for our merchants. This enhances the micro-financing journey
for SMEs and micro retailers, making credit more accessible to the underbanked and the underserved.
On a separate note, according to Bank Negara Malaysia’s recently released Financial Sector Blueprint 2022-2026, cyber security is viewed as one of
the biggest risks in advancing the digitisation of the financial sector. To address this issue, GHL has established a comprehensive playbook to help
identify and handle suspected cyber security threats or breaches.
As GHL continues to adapt and thrive within this continuously evolving landscape, we will continue to focus on innovating and delivering sustainable
solutions to leverage on the challenges and opportunities presented, while providing value across the communities we serve.
Sean Hesh
Group CEO, GHL
Foreword
Eddy Wong, Co-Founder, Managing Director, and CEO of VSure.life
If there are any learnings to take home from the past two years, it would be to never underestimate
that importance of protection. We have all witnessed the impacts of a global pandemic and are still
living through its reverberations till this very day, deeply felt by all layers of society, especially the
underserved B40 communities. It is vital for all parties from both public and private sectors to unite
and protect the masses, more importantly deliver hope and confidence to positively tip the
socioeconomic scale towards greater prosperity.
This serves as a unique opportunity for insurtech players to deliver real and meaningful change.
Thanks to the great acceleration of digital adoption by the masses, insurtech products, services and
capabilities can better protect the fast-evolving and diverse lifestyles that exist today. Over the next
ten years, we foresee a continuous shift in living standards and lifestyles as our nation continues
towards a post-endemic state, eager to unpause their lives.
As a key financial services pillar, insurance must be capable of adapting to the people’s ever-changing needs, which is why we are thrilled to be able to
contribute through our pay-per-use insurance solutions. VSure.life as Malaysia’s first On-Demand Lifestyle Insurer approved by Bank Negara Malaysia
under its Fintech Sandbox programme serves to close the underinsured gap, and we remain ever committed to march forward with the insurtech industry
and beyond to offer highly flexible and affordable protection.
While we are proud and thrilled to be driving the On-Demand insurance initiatives in Malaysia, it is a strong reminder that our work has only jut begun with
around 50% of Malaysians remaining uninsured. However, I remain hopeful, and I personally look forward to working closely with all partners to move the
needle forward and change the world for the better!
Eddy Wong
Co-Founder, Managing Director, and CEO, VSure.life
Malaysia Fintech Report 2022
Sponsors
This 2022 Malaysia Fintech Report was made possible thanks to the support of our generous sponsors below. Thank you!
Malaysia’s Fintech Landscape
Malaysia Fintech Map 2022
Total: 294 Fintech Companies
AI/ Data (9)
Remittance (29)
Payment (60)
Proptech (6)
E-wallet (43)
Lending (55)
Marketplace (13)
Islamic Fintech (16)
Digital Bank (5)
Blockchain/ Cryptocurrency (21)
MALAYSIA
FINTECH
MAP 2022
Crowdfunding (10)
KYC/ Regtech (14)
Insurtech (32)
Wealthtech (25)
Koha
Note: Some companies appear in more than one category to better reflect the nature of their businesses, but they still count as one towards the total
Malaysia’s Fintech Landscape
Malaysia registers a notable increase in insurtech and blockchain/ cryptocurrency in 2022
Equity Crowdfunding
Proptech
Digital Banking
AI/ Data
2%
3% 3% 2%
Marketplace
KYC/ Regtech
Payment
4%
19%
4%
Islamic Fintech
5%
6%
Remittance
17%
Lending
7%
Blockchain/
Cryptocurrency
8%
12%
9%
E-wallet
Wealthtech
Insurtech
Source: Compiled by Fintech News Malaysia
Note: Some companies appear in more than one category
Malaysia at a Glance
Malaysia in Numbers
32.7 million
Total Population
RM1.5 trillion
Multi-cultural
77.2%
Society
City Population
GDP (2021)
RM45,874
29.4
GDP Per
Capita (2021)
3.1%
Median Age
GDP Growth
(2021)
84.2%
Internet Users
36th
Largest Economy in
The World
3.6 million
B40 Households (2021)
1st
Global Islamic Economy
Indicator (GIEI)* Ranking
Notes: GIEI ranking according to the State of the Global Islamic Economic Report 2020/2021
Source: Global Findex Database, Bank Negara Malaysia
54
Number of Banks
Banking Landscape
Mobile banking is surpassing internet banking in monthly transaction value
Value growth
2021- 2022 Year-end Apr (%)
Transaction values of payment channels (RM billion) – From Jan-16 to Apr-22
102.8
Internet banking²
-2.3%
101.5
Mobile banking
46.9%
100
126.2%
Internet Banking
(% of Population as
of Apr 2022)
RM billion
80
39.3 million subscribers
60
39.4
42.9
40
ATM
Cash Withdrawal
-5.1%
76.4%
32.8
Mobile Banking
(% of Population as
of Apr 2022)
20
25.0 million subscribers
2.6
0
Jan-16
Jan-17
Jan-18
Jan-19
Jan-20
Jan-21
Jan-22
1. Based on 6 largest countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines 2. Internet banking excludes corporate
Source: Global Findex Database, Bank Negara Malaysia
Payment Landscape
Digital Payments Continue to Grow in Malaysia
The average number of e-wallet payment transactions per capita exceeds pre-COVID level at 64.5 in 2021. Last year alone, over 7.2 billion transactions were made with
electronic payment (e-payment) channels in Malaysia, growing 30% year-on-year. Digital payments use and acceptance in Malaysia have risen significantly over the past
decade, but this cashless revolution truly went mainstream during the Covid-19 pandemic.
Transaction Value (RM billion):
Transaction Volume (million)
2,108
2,030
648
2021
351
56
556
265
60
1,475
737
1,541
75
0
1,827
498
489
Mobile banking
FPX and
Direct Debit
2%
Debit card
1%
ATM
0%
E-money
0%
Interbank
GIRO
11%
RM 1,392 billion
Debit card
2,089
1,174
Credit card
Interbank GIRO
490
371
510
203
500
Credit card
1%
FPX and Direct Debit
936
179
2019
E-money
Internet banking
372
2020
Mobile banking
6%
RM 10,303 billion
ATM
1000
Source: Bank Negara Malaysia
1500
2000
2500
Internet
banking
79%
BNPL & Lending
Bank Negara Malaysia Leading Efforts to Regulate Buy Now Pay Later Schemes in 2022
We’re seeing a rise in companies and apps offering BNPL services. New laws will be introduced to regulate and monitor BNPL
schemes. Bank Negara Malaysia (BNM) is working with Ministry of Finance (MoF) and Securities Commission Malaysia (SC) to enact
the Consumer Credit Act in 2022 to strengthen regulatory arrangements for all consumer credit activities including BNPL schemes
offered by non-bank operators. This regulation will provide much-needed clarity to the regulatory treatment of BNPL schemes which
some have considered to be operating in the grey area.
BNPL providers in Malaysia
Launched Feb 2020
HQ Singapore
Launched Jun 2020
HQ Malaysia
Launched Dec 2020
HQ Malaysia
Launched Dec 2020
HQ Singapore
Launched Jan 2021
HQ Malaysia
Launched Jun 2021
HQ Malaysia
Launched Jul 2021
HQ Singapore
Launched May 2022
HQ Singapore
Launched Jun 2022
HQ Malaysia
Acquired by Shopback in 2021
Launched Jan 2021
HQ Singapore
Launched Oct 2021
HQ Malaysia
Launched Mar 2021
HQ India
Launched Nov 2021
HQ Malaysia
Source: Compiled by Fintech News Malaysia
Launched Apr 2021
HQ Singapore
Launched Mar 2022
HQ Malaysia
Digital Banking
Bank Negara Malaysia Dishes Out 5 Digital Banking Licenses
BNM has announced five successful applications for digital banking licenses under the Financial Services Act 2013 (FSA). The assessment criteria cover the character and
integrity of applicants, nature and sufficiency of financial resources, soundness and feasibility of business and technology plans as well as ability to meaningfully address
financial inclusion gaps. Following this announcement, the successful applicants will undergo a period of operational readiness that will be validated by BNM through an audit
before they can commence operations. This process may take between 12 to 24 months.
The consortium will be led by
Axiata with its subsidiary Boost
Holdings owning 60% and RHB
owning 40% of the digital
banking consortium. They will
primarily target the underserved
segment like MSMEs and the
gig economy. Boost is best
known for their e-wallet and the
micro-lending services Boost
Credit.
Source: Bank Negara Malaysia
Registered in Singapore, GXS is
jointly owned by Grab and
Singtel, while Kuok Brothers is a
Malaysian conglomerate with
business interests spanning
across multiple industries.
Their digital bank joint venture
will be led by Pei Si Lai, a
financial services industry
veteran with more than 25 years
of experience.
Sea Group was granted a full
digital banking license in
Singapore in 2020 and acquired
Indonesia’s Bank BKE in 2021.
The company has rebranded to
a digital bank, Sea Bank. Its
fintech businesses include its ewallet ShopeePay and its BNPL
services named SPaylater.
Meanwhile, YTL Berhad, is a
Malaysian conglomerate with
business interests spanning
across hospitality, property,
technology, and more.
Led by KAF Investment Bank,
this consortium consists of wellknown Malaysian startups and is
largely considered a dark horse
in this race.
MoneyMatch is a locally built
fintech focusing on cross-border
payments with business
interests in Malaysia, Australia,
and Brunei. Jirnexu is best
known for their comparison site
RinggitPlus.
Carsome is a digital
marketplace for used cars and is
Malaysia’s first unicorn.
AEON Credit is primarily a
provider of consumer financing
services, an e-money and credit
card issuer as well as merchant
acquirer. It is also a licensed
moneylender since 2019.
MoneyLion is best known for
offering neo-banking services in
the US, while in Malaysia, it
serves as a technology hub for
the startup.
The consortium set to launch
Islamic digital bank in 2024.
Islamic Fintech
The Islamic Fintech Landscape in Malaysia
Malaysia is gearing up to be the global leader in Islamic Fintech. In 2020, the Islamic Fintech transaction volume within OIC (Organization of Islamic Cooperation) countries is
estimated at US$49 billion. The halal economy is currently worth US$3.1 trillion and is projected to be worth US$5 trillion by 2030. At the heart of this explosive growth is
Malaysia, which ranks first in terms of market maturity and is among the top five Islamic Fintech markets based on transaction volume. The Malaysian government, regulators,
recognizing the potential that lies within the Islamic fintech market, has been taking initiatives to spur the growth of this industry.
Malaysian Islamic Fintechs
RM2.3
trillion
Malaysia’s Islamic Capital
Market (ICM) Size 2020
(RM1.1 trillion in 2010)
7.5%
CAGR in total size of
Islamic Capital Market (ICM)
1st
Malaysia’s ranking in Global
Islamic Fintech (GIFT) Index
(Score 87)
microLEAP is an Islamic and
PayHalal is Shariah-compliant
CapBay is a Malaysian multi-bank
Ethis is an ethical investment and
conventional peer-to-peer
payment gateway that
supply chain finance and peer-to-
social finance platform operator,
(P2P) microfinancing platform
processes payments from
peer financing (P2P) platform.
focusing on sustainable and
regulated by Securities
CASA e-Money Debit and
The firm has secured RM30
impactful crowd-investments,
Commission Malaysia (SC).
credit payments for both online
million investment from Kenanga
financing and donations. Ethis is
The platform, which serves as
and physical stores. PayHalal
Capital Islamic (KCI), a subsidiary
collaborating with venture capital
an alternative financing tool, is
is forecasting RM8.61 billion in
of Kenanga Investment Bank
firm Gobi Partners to structure
a Malaysian P2P operator that
payment processing volume
Berhad (KIBB). The investment is
and set up a US$20 million
offers both Islamic and
and RM135 million in revenue
a step forward to growing
Shariah-compliant seed fund. The
conventional financing. SME
for the company in the next
CapBay’s supply chain finance
joint fund will invest in Shariah-
Corp partnered MicroLEAP to
financial year 2023. PayHalal
arm, CapBay Islamic, which is
compliant startups globally with
disburse RM 10 million in
partnered with Atome to offer
approved for Shariah-compliant
an initial geographic focus in the
Shariah-Compliant financing to
merchants participation in
P2P financing by the Securities
MENA as well as the ASEAN
SMEs in Malaysia.
Shariah compliant BNPL
Commission Malaysia (SC).
regions.
facility.
CapBay’s P2P platform has
reportedly maintained 0% default
since its launch in March 2020.
Source: Bank Negara Malaysia
Key Regulations
BNM’s five-year plan for digitizing the financial services sector in Malaysia
Desired outcomes and targets for 2026
Strengthen cyber
security
Future-proof key
digital
infrastructures
Including data
ecosystem,
payment and
settlement systems,
digital identity, and
internet
connectivity.
Support a more
vibrant digital
financial services
landscape
Fostering
innovation while
preserving broader
financial system
stability.
As the increased
sophistication of
threat actors
heightened cyber
security, risks of
fraud, data
breaches, and
financial losses.
Support greater
use of technology
for regulation and
supervision
Financial
Inclusion
Finance for
Transformation
Finance for
Sustainability
To continuously
improve
effectiveness and
efficiency as a
financial regulator.
Key targets and milestones
• Narrowing of gap between Malaysia’s OECD/INFE* financial literacy
scores and the average score of OECD members
• Increase in e-payment per capita at CAGR of higher than 15%
• Insurance/takaful penetration rate of 4.8-5.0% (as % of GDP)
• Doubling of subscribers of microinsurance/micro takaful
• Enactment of consumer credit law and oversight body
• Single licensing regime for financial advisors and financial planners
• Steady growth in alternative finance channeled to new, innovative
enterprises
• Faster, cheaper, more accessible cross-border payments
• More than 50% of new financing is for green and transitioning
activities
• Steady growth in VBI-aligned assets
INFE= OECD International Network on Financial Education
Source: Bank Negara Malaysia (BNM)
Key Regulations
BNM’s five-year plan for digitizing the financial services sector in Malaysia
Future-proof
key digital
infrastructures
•
•
Strengthen
cyber security
A multi-year modernisation of RENTAS* with the objective of improving
the overall efficiency of large-value payment systems, include reviewing
RENTAS access for non-bank payment service providers and exploring
potential central bank digital currencies (CBDCs) and distributed ledger
technology (DLT) applications for RENTAS. BNM will also intensifying
research and experimentation of CBDCs for Malaysia’s monetary and
financial infrastructures.
Support a more
vibrant digital
financial services
landscape
Enhance efficiency on the cross-border payments front, including
linking up with other real-time payment systems in ASEAN. BNM has
already began efforts by linking up real-time payment systems with
Thailand in early 2021. Malaysia is collaborating with BIS on their Project
Nexus, which aims to connect real-time payment systems in Malaysia,
Singapore, and the euro area. To enable cheaper and faster cross-border
payments, Malaysia is also looking into the use of multi-CBDCs alongside
with Singapore, Australia, and South Africa in Project Dunbar, led by BIS.
•
Open data agenda with a market-led approach, looking into use cases
that promote financial inclusion and support consumers to make better
informed financial decision.
•
Strengthen system-wide cyber security oversight and capabilities,
which include strong cyber risk governance and management and sharing
of actionable cyber security intelligence.
•
Strengthen domestic and global collaborative efforts on cyber
security, such as advocating for greater standardisation in cyber security
and cyber resilience terminology, deliver specialised cyber security training
and certification.
Source: Bank Negara Malaysia (BNM)
Support greater use
of technology for
regulation and
supervision
•
Refresh Regulatory Sandbox to accelerate timeto-live testing, providing accelerated tracks for
lower-risk activities or simplified testing parameters
for qualified players.
•
Implement digital banking framework, allowing
digital banks and incumbent banks to evolve their
business models to create an ecosystem that will
better address underserved and unserved segments.
•
Finalise a regulatory framework for digital
insurers and digital takaful operators in 2022,
encouraging new digital players that can leverage
technologies to deliver value propositions on
inclusion, competition, and efficiency.
•
Advance an industry-led approach to digital
payments by reviewing existing regulatory
policies on digital payments, advancing
regulations for payment services operators like
PayNet, Visa, and Mastercard.
•
Leverage technology to strengthen applications
of technologies such as AI, ML, and automation
to streamline and facilitate more efficient regulatory
and compliance process.
•
Initiate a comprehensive review on the financial
data ecosystem, including through the use of APIs
and Open Data initiatives
Key Regulations
SC launches five-year Capital Market Masterplan to support Malaysia’s next stage of growth
SC launched the third Capital Market Masterplan (CMP3), which will serve as a
strategic framework for the growth of Malaysia’s capital market. The framework
seeks to leverage the strengths and potential of the Malaysian capital market to
accelerate economic growth that is sustainable and inclusive.
The CMP3 outlines six key development and regulatory thrusts that will
collectively serve as pillars in developing strategic initiatives over the next five
years.
DESIRED OUTCOMES FOR THE CAPITAL MARKET
Grows in relevance
with the upgrade of
the economy and its
stakeholders
Efficient in capital
mobilisation,
guided by evolved
regulatory
Diversified, competitive
and differentiated to
create value for diverse
participants
SIX KEY DEVELOPMENT AND REGULATORY FOCUS
DEVELOPMENT FOCUS:
REGULATORY FOCUS:
CATALYSES
COMPETITIVE
GROWTH
EMPOWERS
INVESTORS FOR A
BETTER FUTURE
SHAPES A
STAKEHOLDER
ECONOMY
With greater fundraising
efficiency for companies
across their business
lifecycle, enabled by
competitive markets and
intermediation.
With accessible and
quality investment
advice and greater
diversity for emerging
needs through a digitally
inclusive ecosystem.
With effective capital
mobilisation through SRI
and ICM solutions
to sustainable,
responsible and
stakeholder-oriented
businesses.
SRI= Sustainable and Responsible Investment, ICM= Islamic Capital Market
Source: Securities Commission Malaysia (SC)
EMBEDS SHARED
ACCOUNTABILITY
In the capital market to
promote responsible
businesses, industry
self-regulation and
investor advocacy,
underpinned by
principles-based
regulations.
PRIORITISES
EFFICIENCY AND
OUTCOMES
In protecting investor
vulnerabilities, with a fitfor-purpose
regulatory architecture
as well as effective
supervisory and
enforcement approach.
EMBRACES THE
DIGITAL AGE
With the industry, as
they navigate through
RegTech and emerging
technology risks, while
enhancing the SC’s
digital capabilities.
Key Developments
Malaysia witnesses several key fintech developments in the past year
6 Aug 2021
25 Feb 2022
12 Nov 2021
BigPay raises up to US$100 Million for
its digital banking aspirations
BigPay raises up to US$100 Million for its digital
banking aspirations from South Korean
conglomerate SK Group. The funding further
accelerates the scope of growth for its digital
businesses, including logistics and financial
services. The funding comes a few weeks after
BigPay announced its application for a Malaysian
digital banking license.
Bank Negara Malaysia leading efforts
to regulate Buy Now Pay Later
Schemes
BNM announced that it is driving inter-agency
efforts to enact the Consumer Credit Act in
2022. This regulation will provide clarity to the
regulatory treatment of BNPL schemes which
some have considered to be operating in the
grey area.
PayNet appoints Farhan Ahmad as
its Group Chief Executive Officer
Farhan was the Founder and Chief
Executive Officer of Bento for Business, a
US-based fintech that provides payment
and expense management services to
SMEs. With his broad experience in private
payment system initiatives, he now aspires
to contribute on a national basis and drive
PayNet towards achieving its vision in
empowering Malaysia’s digital economy.
BNPL
MoneyLion’s Foong Chee Mun
becomes first Malaysian fintech
founder on NYSE
BNM paves the way for digital
insurance with proposed
licensing framework
MoneyLion’s Foong Chee Mun becomes
first Malaysian fintech founder on NYSE.
Foong announced plans to bolster the
company’s KL-based technology center
of excellence. The center currently
employs over 250 technologists and
expects to double the size of its
Malaysian office in the next 12 months.
BNM issued a discussion paper on
Licensing Framework for Digital
Insurers and Takaful Operators. It
outlines the proposed framework for
licensing new digital insurers and
takaful operators (DITOs) to encourage
digital innovation in the insurance and
takaful sector.
13 Oct 2021
Source: Fintech News Malaysia
Binance takes strategic stake in Malaysian
Crypto Exchange MX Global
MX Global landed an equity investment into the
company from Binance, one of the world’s largest
crypto exchanges.
MX Global is one of the four Recognized Market
Operator-Digital Asset Exchange (RMO-DAX) that
has been granted full approval by the Securities
Commission Malaysia (SC) in July 2021.
5 Jan 2022
Bank Negara Malaysia announces
much anticipated Digital Banking
Licenses
After a month of delay, BNM announced the list
of successful applicants. The five winners are
reported in Digital Banking section. Following
this announcement, the successful applicants
will undergo a period of operational readiness
that will be validated by BNM through an audit
before they can commence operations. This
process may take between 12 to 24 months.
1 Mar 2022
28 Apr 2022
If we’ve missed you out in our fintech map of if you’d like to speak to us for media enquiries/advertising
kindly reach out to: vincent.fong@fintechnews.my