Digital banks

Bank Negara Malaysia (BNM), Malaysia’s central bank, issued its Licensing Framework for Digital Banks last year to kickstart digital banking in Malaysia.

South Korean conglomerate SK Group Southeast Asian investment arm has joined a consortium for AirAsia digital bank business in Malaysia.

Malaysia has jumped into the digital banking fray following the recent issuance of a policy document on the licensing framework for digital banks.

Bank Negara Malaysia has issued a policy document on licensing framework for digital banks following a six-month public consultation.

Hong Kong new online-only banks plan to venture into business lending and wealth management, seeking more lucrative avenues.