Fintech News Malaysia

1 month 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.

1 month 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.

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.

Mar 28, 2025 | 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.

Mar 26, 2025 | 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.