Fintech News Malaysia

Fintech News Malaysia is your go-to platform for up-to-date insights and news on both local and international Fintech developments.

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With Digital Insurers on the Horizon, Can Malaysia's Traditional Players Keep Up?

2 weeks ago | fintechnews.my | Annette Rowena

Malaysia’s insurance and takaful industry stands at a pivotal moment. With over 10 million people and 644,000 micro, small, and medium enterprises (MSMEs) currently unserved, the market has a glaring protection gap. Yet, this challenge presents a remarkable opportunity: an estimated RM78 billion digital insurance and takaful market opportunity is projected to emerge by 2030.
5 Top E-Wallets in Malaysia and What They're Best For (2025)

2 weeks ago | fintechnews.my | Annette Rowena

Cash is out, and e-wallets are in. Digital wallets have become an integral part of daily life in Malaysia. Whether paying for groceries or grabbing a bite at the mamak, Malaysians appreciate the speed, convenience, and security that digital payments offer. DuitNow QR codes, for one, are a familiar sight at pasar malams and cafes, making cashless living simple and accessible almost everywhere.
5 Things You Need to Know About the BNM 2024 Annual Report

2 months ago | fintechnews.my | Annette Rowena

Every year, Bank Negara Malaysia (BNM) shares its annual report, a detailed snapshot of our economy, financial policies, and how they shape life for us Malaysians. While the report is a treasure trove of insights, its 300+ pages of analysis might not fit into everyone’s busy schedule. We’ve distilled the essentials so you can stay informed without the deep dive. Here are five key takeaways from the BNM 2024 Annual Report related to your financial well-being.
Are Digital Banks in Malaysia Closing the Country's Financial Gap?

2 months ago | fintechnews.my | Annette Rowena

Back when Bank Negara Malaysia (BNM) granted licenses to five digital banks, the goal was clear: enhance financial inclusion and innovate the nation’s banking landscape. Fast-forward to December 2024, and three banks are already serving customers, with two more underway. Close to 60% of GXBank, AEON Bank, and Boost Bank customers come from traditionally underserved segments, including low-income households and rural communities, according to BNM.
What is Bank Negara Malaysia Doing to Tackle Rising Insurance Premiums?

2 months ago | fintechnews.my | Annette Rowena

For many Malaysians, private healthcare has long been a necessary yet costly safety net. But in 2024, medical inflation in Malaysia hit a new high of 15%, outpacing the global average of 10% and APAC’s 11%, Bank Negara Malaysia (BNM) reports. More than just a number, it’s a point of concern for many policyholders already struggling with rising insurance premiums, out-of-pocket costs, and the stark reality that medical coverage is slipping further out of reach.
5 Top Malaysia Fintech Trends for 2025, Driving Innovation and Growth

Jan 22, 2025 | fintechnews.my | Annette Rowena

The convergence of cutting-edge technology, regulatory innovation, and entrepreneurial spirit is reshaping how Malaysians interact with money, challenging traditional norms, and opening up new possibilities for financial inclusion and economic growth. As we delve into the top fintech trends shaping Malaysia in 2025, we witness a nation at the forefront of financial innovation in Southeast Asia.
Malaysia Cryptocurrency Policy and Partnerships to Fuel Fintech Innovation

Jan 22, 2025 | fintechnews.my | Annette Rowena

Malaysia’s cryptocurrency journey has been a mix of cautious exploration and growing ambition. With a young, tech-savvy population and a government keen on digital transformation, the nation has been gradually laying the groundwork for blockchain and crypto adoption. As of now, the country has recognised six digital asset exchange operators, enabling trading of major cryptocurrencies like Bitcoin and Ethereum.
How to Buy Cryptocurrency in Malaysia (2025)

Jan 8, 2025 | fintechnews.my | Annette Rowena

With 3 million Malaysians under the younger demographic actively using cryptocurrencies, it’s apparent that it is an increasingly popular investment option here. How do you start getting involved in buying cryptocurrency in Malaysia, though? This article will walk you through everything you need to know about the process of buying cryptocurrency in Malaysia, including licensed cryptocurrency platforms, legal aspects, and best practices for safe trading. What is cryptocurrency?
5 Top Stories That Shaped Malaysia’s Fintech Scene in 2024

Dec 19, 2024 | fintechnews.my | Annette Rowena

As Malaysia’s fintech ecosystem continues to evolve, 2024 is shaping up to be a transformative year for the industry. From the launch of new digital banks to billion-dollar investments in data infrastructure, these are the key developments driving the narrative in the country. NTT DATA Expands ASEAN Presence with Majority Stake in GHL SystemsIn July 2024, NTT DATA, a Japanese multinational IT and consulting firm, increased its shareholding in GHL Systems to 98.8%.
BNM Seeks to Remove Flat Rates on Personal Loans- What Does this Mean for Consumers?

Dec 17, 2024 | fintechnews.my | Annette Rowena

Financial service providers (FSPs) are already required to assess suitability and affordability for every new financing facility they offer to consumers. However, stricter measures are necessary to prevent unhealthy trends in the personal financing sector. Current and New Changes Proposed to BNPL Personal FinancingExistingly, under BNPL (Buy Now, Pay Later) facilities, FSPs must assess a consumer’s ability to repay in full without resulting in undue financial hardship.