Deputy chief executive officer Thariq Usman Ahmad said a significant amount of effort is being put forward to modernise the banking industry.“It must now seek new and innovative ways of reaching out to the underserved segments while at the same time increasing the accessibility, value and affordability of financial services without compromising the security of the customer’s personal data,” he said in a statement yesterday.
Meanwhile, Bank Negara governor Tan Sri Nor Shamsiah Mohd Yunus said by adopting digital technology more widely for everyday transactions, Malaysia could increase opportunities for society to participate in the economy by overcoming geographical barriers.“Digital banks can help individuals and businesses gain better access to more personalised solutions backed by data analytics.
“As businesses move online, digital banking also provides a safer and a more convenient way to transact,” she added.These include the consortium led by KAF Investment Bank, which also consisted of South-East Asia’s largest integrated car eCommerce platform Carsome and two of Bank Negara’s financial technology or Fintech Regulatory Sandbox graduates – Jirnexu and MoneyMatch.The bank serves customers in both syariah and conventional fixed income and money markets.
It is also involved in investment banking, stockbroking, fund management and unit trusts and trustee services. — Bernama
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