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SingTel@229
The digital bank joint venture between Grab and Singtel, together with a consortium of other investors, has today applied for a digital bank licence in Malaysia. Based on the guidance provided by Bank Negara Malaysia, it is expected to issue up to five digital bank licences by the first quarter of 2022.
https://links.sgx.com/1.0.0/corporate-an...b0b36c88f0
ifast@815
iFAST Corps leads consortium to apply digital bank license in Malaysia
“We think that the B40 segment has clearly been unserved and left behind even as Malaysia progresses. With the synergistic capabilities within our consortium, the solutions offered for the B40 are ones that will provide immediate benefits and results – such as free life insurance, interest-free loans for daily necessities, and micro investments and insurance. iFAST Bank will serve the B40 segment and be profitable while doing so,” said Mr Lim.
The Malaysian consortium partners are Koperasi Angkatan Tentera Malaysia Berhad (“Koperasi Tentera”), THZ Alliance Sdn. Bhd (“THZ Alliance”), and Mr Lee Thiam Wah, founder and major shareholder of 99 Speed Mart Sdn. Bhd (“99 Speedmart”).
Internationally, the iFAST Bank consortium comprises Yillion Fintech Pte. Ltd. (亿联科技) which provides the core digital banking technology and capabilities for Yillion Bank (亿联银行). Yillion Bank is one of the four digital banks in China founded by Zonfar Financial Holding (中发金控投资管 理有限公司) and Hong Kong-listed Meituan Dianping (美团点评)
According to BNM, it may issue up to five digital bank licences to qualified applicants by the first quarter of 2022. The digital bank licensee will be able to serve both retail customers as well as corporate customers.
https://links.sgx.com/FileOpen/iFAST_MY%...eID=673073
Stay home and stay safe, everyone.
The digital bank joint venture between Grab and Singtel, together with a consortium of other investors, has today applied for a digital bank licence in Malaysia. Based on the guidance provided by Bank Negara Malaysia, it is expected to issue up to five digital bank licences by the first quarter of 2022.
https://links.sgx.com/1.0.0/corporate-an...b0b36c88f0
ifast@815
iFAST Corps leads consortium to apply digital bank license in Malaysia
“We think that the B40 segment has clearly been unserved and left behind even as Malaysia progresses. With the synergistic capabilities within our consortium, the solutions offered for the B40 are ones that will provide immediate benefits and results – such as free life insurance, interest-free loans for daily necessities, and micro investments and insurance. iFAST Bank will serve the B40 segment and be profitable while doing so,” said Mr Lim.
The Malaysian consortium partners are Koperasi Angkatan Tentera Malaysia Berhad (“Koperasi Tentera”), THZ Alliance Sdn. Bhd (“THZ Alliance”), and Mr Lee Thiam Wah, founder and major shareholder of 99 Speed Mart Sdn. Bhd (“99 Speedmart”).
Internationally, the iFAST Bank consortium comprises Yillion Fintech Pte. Ltd. (亿联科技) which provides the core digital banking technology and capabilities for Yillion Bank (亿联银行). Yillion Bank is one of the four digital banks in China founded by Zonfar Financial Holding (中发金控投资管 理有限公司) and Hong Kong-listed Meituan Dianping (美团点评)
According to BNM, it may issue up to five digital bank licences to qualified applicants by the first quarter of 2022. The digital bank licensee will be able to serve both retail customers as well as corporate customers.
https://links.sgx.com/FileOpen/iFAST_MY%...eID=673073
Stay home and stay safe, everyone.