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Digital banks in Malaysia: Prospects and lessons from China

ON APRIL 29, 2022, Bank Negara Malaysia (BNM) announced the five digital banking licence winners from the 29 applications received, namely a consortium of RHB Bank Bhd and Boost Holdings Sdn Bhd; a consortium led by YTL Digital Capital Sdn Bhd and Sea Ltd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; a consortium led by KAF Investment Bank Sdn Bhd; and a consortium of MoneyLion Inc, AEON Financial Service Co Ltd and AEON Credit Service (M) Bhd.

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