Bank Negara Malaysia (BNM) has announced the five successful applicants for the digital bank licences after a month from the central bank’s original deadline.
BNM said all 29 applications ranging from companies to partnerships across different industries, were thoroughly assessed.
The assessment criteria covered the character and integrity of applicants, nature and sufficiency of financial resources, soundness and feasibility of business and technology plans as well as ability to meaningfully address financial inclusion gaps.
Applicants Licensed under the Financial Services Act 2013 (FSA)
a consortium of Boost Holdings Sdn Bhd and RHB Bank Bhd
a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd
a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd
Applicants Licensed under the Islamic Financial Services Act 2013 (IFSA)
a consortium of AEON Financial Service Co Ltd, AEON Credit Service (M) Bhd and MoneyLion Inc