Enhance Could Quickly Turn into a Financial institution in Malaysia as Axiata Eyes Digital Banking

The Axiata Group is seemingly eyeing for Malaysia’s digital banking license, in accordance with a latest report by The Edge. In keeping with the identical report, Khairil Abdullah, CEO, Axiata Digital, mentioned that the group “positively expressed curiosity” in a digital banking license.

This transfer looks as if a logical development for Axiata Digital who’s finest recognized to shoppers as the corporate behind the favored e-wallet app Enhance.

With a big consumer base of three.eight Million and 75,000 customers, providing a collection of economic companies might probably assist the corporate to recoup again the heavy value of buyer acquisition that’s has undertaken just lately.

This information comes after the announcement of a possible merger between Axiata and Telenor, who’s the father or mother firm to Digi. If the banking license and merger involves fruition, they could possibly be an actual power to be reckoned with, the brand new entity could have a possible consumer base of greater than half of Malaysia inhabitants.

It will be attention-grabbing to see how Axiata’s potential new digital banking unit will fare up in opposition to Seize who has additionally introduced related ambitions only a week in the past.