News & Reviews:   fintech

What is a digital bank and how does it differ from regular ones? Read on for some details on what you need to know about digital banks.

BigPay has announced some changes to the fees for some of its services that would affect Malaysian users. Going into effect this 30 August, the changes include an additional 0.5% fee for overseas spending and up to a 3% fee for credit card top-ups.

Over the years, Malaysia has made considerable impacts on the global scale. Recently, Bolehland ranked as the second-best country in SEA for digitalisation. According to the ranking, Malaysia scored 1495 points, behind only Singapore.

During a colourful event in Kuala Lumpur today, Boost launched its refreshed brand along with an update on future plans for the coming months and 2023. Fresh from its recent Digital Bank License award from Bank Negara Malaysia (BNM), Boost aims to fuel greater financial inclusion for Malaysia and across the region by utilising the power of technology and artificial intelligence (AI).

The movement control order (MCO) stops us from visiting relatives this year, but it doesn't prevent you from sending Ang Pows. Yesterday, Maybank announced that you can send them via its MAE app. Today, Boost confirmed that its app will let you do the same.

Artificial humans could be a thing of the future, as Samsung demonstrated at this year's Consumer Electronics Show (CES). With 2021, the company will be bringing back its NEON artificial human tech to CES 2021. This time, Samsung will be showcasing how the technology will work in banks.

The Huawei Spark Malaysia competition has been officially announced in collaboration between Huawei Malaysia, as well as MDEC, in order to encourage innovation in key areas such as e-commerce, Fintech, Healthcare, Manufacturing, and Smart Cities. The company that achieved the top spot in the aforementioned competition will be eligible for various prizes including financial support of up to USD125000 (~RM516312), a boost in business and brand awareness, mentoring, Go-To-Market support and more.

It's clear these days that traditional banks see the importance of integrating with e-commerce platforms. Maybank, VISA Malaysia, and Shopee have partnered up to launch a new VISA credit card. As you can imagine, this is a new credit card that provides its users with benefits and rewards when shopping on Shopee.

Digital banking is something Malaysia is looking into and many companies are hoping to get the licence to operate one in Malaysia. Thus far, the companies that are interested seem to include Grab, Razer, AirAsia, Axiata, CIMB, Ant Financial, and possibly Maybank.