Ant Financial forms JV with CIMB subsidiary for digital financial services

ant financial

In another step to expand its global footprint and promote financial inclusion, Ant Financial is entering into an equity joint venture (JV) with CIMB Group’s subsidiary Touch ‘n Go (TNG), reports Paybefore, Banking Technology‘s sister publication. The JV will introduce a “world-class mobile platform for payments and other financial services,” the companies say. TNG will […]

Maybank launches fintech sandbox


Malaysia’s largest bank, Maybank, has unveiled its fintech sandbox to let ASEAN start-ups develop and test new ideas. As the “first in ASEAN”, the Maybank FinTech Sandbox offers a place “free of charge” to help developers throughout the region. The bank is keen to tap into ideas around cloud, the internet of things (IoT) and […]

Top fintech stories this week – 2 June 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Malaysia’s central bank unveils fintech sandbox

Bank Negara Malaysia

Bank Negara Malaysia (BNM), the nation’s central bank, has approved four fintech start-ups to operate within its regulatory sandbox. As Banking Technology reported last month, BNM called out to fintech start-ups for ideas to improve the financial services sector. The bank’s Financial Technology Enabler Group (FTEG) announced it was open to concepts through its “Fintech […]

Malaysia’s central bank seeks fintech start-ups

Fintech Hacks - Call for Participation

Bank Negara Malaysia (BNM), the nation’s central bank, is calling out to fintech start-ups for ideas to improve the financial services sector. The bank’s Financial Technology Enabler Group (FTEG) is now open to concepts through its “Fintech Hacks” initiative which aims to “identify pain points in the delivery and consumption of financial services, and solicit […]

AmBank in mobile banking “quantum leap” with Backbase

Dato' Sulaiman Mohd Tahir, AmBank

AmBank will be launching “a new phase of mobile banking very soon”, according to the bank’s new group CEO, Dato’ Sulaiman Mohd Tahir. The solution is provided by Backbase.

Asia’s first Shariah-compliant robo-advisor to launch

Farringdon Group Private Wealth Managers

Algebra, Asia’s “first Shariah-compliant robo-advisor”, will be launched this December by Malaysia-based Farringdon Group Private Wealth Managers. It will be open to investors from across the globe, with a minimum investment of $200 per month. Funds will follow basic Islamic principles. For example, no stocks may derive income from gambling, alcohol, tobacco, pork products, adult […]

Standard Chartered opens new Malaysian office

Standard Chartered Bank, has opened a Global Collective Intelligence and Command Centre at Technology Park Malaysia, which aims to develop new technology to improve banking services. The centre is staffed with software engineers, operations specialists and service partners, co-located in a 33,000 square feet fully-digitised and secured environment. “Defining and implementing our digital aspiration is a […]

The rise of ‘halal hubs’ represents an Islamic finance opportunity

Blake Goud is Islamic finance community leader at Thomson Reuters

An interesting trend is developing in the halal sector: regional hubs are developing in places that have some local demand but not the size that would be significant markets on their own. Think of Malaysia (the largest) or Dubai or tiny Brunei. Each sees the halal sector as being strategic to their economic growth, and for Dubai and Brunei at least, as key aspects of their economic diversification. This trend has the potential to support global growth in the Islamic economy as well as SME development but need a lot of (costly) infrastructure put in place to open up the international side to SMEs

CCP proliferation clouds Asian OTC derivatives markets reform

Most countries across the Asia Pacific region are preparing for OTC clearing - but too many CCPs may be a problem

Most emerging Asian countries have developed or are developing their own CCPs and trade repositories in response to global reforms of OTC derivatives markets – but proliferation of CCPs is a concern, according to new research by analyst firm Celent.