Pertama Digital secures four product partners for digital bank

KUALA LUMPUR: Pertama Digital Bhd has secured the first four product — Trevo, Paywatch, Qoala and Butterfly FX, which will bring expertise and solutions in their respective fields to plug into Pertama Digital’s proposed digital bank.

In a filing with Bursa Malaysia today, Permata Digital said this followed its recent announcements on securing Crowdo Holdings Pte Ltd and INFOPRO Sdn Bhd as consortium partners to apply for a digital banking licence from Bank Negara Malaysia.

The company said in order to build a digital bank that empowers financially underserved Malaysians, it has built strong relationships with existing financial inclusion innovators such as these companies on ethical financial products addressing insurance technology (insurtech), gig economy, and educational technology (edtech).

“Trevo, Paywatch, Qoala, and Butterfly FX share our common values to stay close to the people and permanently place customers at the centre of the digital bank strategy and business model.

“Together, our impactful solutions will help vulnerable Malaysians gain access to efficient, affordable, and user-friendly digital financial services, which are needed now more than ever in the face of economic and social challenges caused by the pandemic,” director of strategy Saify Akhtar said.

He said the pandemic has brought forth opportunities to innovate and deploy solutions rapidly for both social and commercial gain, especially in the space of financial inclusion.

“Our research shows that a large number of small businesses and the people are concerned about the future of their income and livelihood.

“This is where our digital bank and all stakeholders in the financial ecosystem, can play a role for the greater good by coming together to help those of us who have been affected,” he said.

He added that the company felt reassured about finding and working with these partners which have proven that their solutions would meet the nation’s financial inclusion goals.

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