News & Reviews:   finance

Setel has officially launched its new Bill Payment feature, marking a significant milestone in the platform service. The latest update allows users to manage and settle essential utilities directly within the application, streamlining household financial management into a single digital touchpoint.

Online scams in Malaysia continue to escalate, with new data showing a sharp rise in both financial losses and the diversity of victims. According to a report by Bernama, Perak alone recorded 4848 online fraud cases in 2025, resulting in total losses of RM124.99 million.

Ryt Bank has announced a major milestone, surpassing 1.2 million users just over seven months after its launch in August 2025. The rapid growth positions the platform as one of Malaysia’s fastest-growing digital banks, reflecting strong adoption among users seeking simpler and more flexible financial services.

Shares of Qualcomm fell sharply this week after the company issued weaker financial guidance for the current quarter, warning that a global memory chip shortage is weighing on the smartphone market and constraining demand for its mobile chips. The outlook disappointed Wall Street following Qualcomm’s fiscal first-quarter earnings release, triggering a sell-off in after-hours trading as investors absorbed the supply chain challenges.

After its debut two years ago, GXBank is celebrating its second anniversary with a clear reaffirmation of its founding mission: to make banking in Malaysia more accessible, inclusive and empowering. CEO Kaushik Chowdhury (KC) said the bank set out to revolutionise the industry, and is now demonstrating the real-world impact of a purpose-led, technology-first approach.

As you should know, U Mobile is Malaysia's second 5G network provider. Recently, the company successfully secured a RM4.3 billion syndicated financing to fund the nationwide deployment of its next-generation 5G network.

Today, CelcomDigi has taken another major step toward enhancing digital convenience with the launch of PayFlex powered by Boost, a Shariah-compliant Buy Now, Pay Later (BNPL) service now available directly within the CelcomDigi app. The new feature provides customers with a secure, flexible, and responsible way to manage payments and finances seamlessly through a single trusted platform.

Just days before celebrating Merdeka, Malaysia has made fintech history with the debut of Ryt Bank — the world’s first AI-powered bank created entirely by Malaysians. This new finance service is spearheaded by YTL Group in collaboration with Sea Limited.

Today, U Mobile has signed a new Memorandum of Understanding (MoU) with CIMB Bank Berhad to extend financing support for its upcoming 5G network rollout. This MoU follows the recent appointment of U Mobile as the nation’s second 5G network provider.

In this week's TechNave Business Bytes Week 2 May 2024 there's news from tech, finance, and sustainability. Samsung highlights eco-friendly practices in its Galaxy S24 series and maintains dominance in digital signage. Cybersecurity concerns are addressed with details on recent threats and protective measures. Positive social initiatives include Grab's community support and a Shariah-compliant auto financing plan. Tech advancements include high-speed memory cards from Samsung and a study on cloud adoption in the public sector. Additionally, AMD celebrates a milestone anniversary and partnerships drive innovation in finance and digital payments. Finally, Samsung gears up for the Paris Olympics but do read here for more details.