BPC’s Post

Malysia's Bank Muamalat signs long-term deal with Backbase. In a strategic move towards becoming a leading, next-generation digital Islamic Bank for all, Bank Muamalat Malaysia Berhad (Bank Muamalat) has announced a long-term partnership with Backbase, the global leader in Engagement Banking. This collaboration, together with Mambu for its core banking transformation, marks a significant milestone in Bank Muamalat’s journey to revolutionize its digital Islamic Banking offerings. Driven by their mission and the desire to create an unmatched customer-centric experience, Bank Muamalat leverages platform technology to innovate towards a unified Islamic digital banking experience, bridging silos, and traditional banking practices. With the Backbase Engagement Banking Platform serving as the anchor platform, facilitating end-to-end processes including onboarding, transactions, financing, as well as backend consumer servicing and engagement, Bank Muamalat is equipped to create customized and unique customer journeys with security, consistency, acceleration, and scalability. Source: https://lnkd.in/eVpymGuD #bank #banking #partner #partnership #banks #bankingindustry #financialtechnology #futureofbanking #financialservices

Over the past few years, a number of digital banks have emerged in Indonesia providing access to unbanked and underserved customer segments through a more efficient infrastructure and simplified processes. Almost all of them are still currently undergoing business transformation to strengthen fundamentals and offer distinctive value in order to survive and thrive in the highly competitive financial service industry. PKRI has reviewed the latest performance of a few selected Indonesia digital banks and segregated them based on the characteristic of their main shareholders: Ecosystem-based digital banks; Large Bank Owned Digital Banks; Multifinance Owned Digital Banks; Conglomerate Owned Digital Banks; Independent Digital Banks. High BOPO would remain a challenge in the near future due to high customer acquisition cost, as digital banks have been forced to offer high deposit rate and/or other costly attractive promotions to retain their depositors amidst intense competition with larger and more established banks. Positively, assets quality has relatively manageable although the risk is rising as the portion of loans originated from weaker credit profile borrowers increases. Although the fundamentals and potential of the sector should remain unchanged, it is expected that digital banks’ total contribution would remain insignificant in the near future. Read more: https://lnkd.in/eJ6cjK_p For more report: https://lnkd.in/dqWtVUj4

The Nation Thailand reports that five contenders have applied to establish Thailand's first virtual banks: 1) SCB X: Partnered with WeBank (China) and KakaoBank (South Korea). 2) Gulf Energy, AIS, and KTB: A joint venture combining energy, telecom, and banking sectors. 3) Charoen Pokphand (CP) Group: Backed by Ant Group (China) and leveraging its True Money platform. 4) BTS Group Holdings: Competing through its subsidiary VGI, with potential backing from Bangkok Bank. 5) Shopee (Sea Group): Rumored to be participating, with prior experience from operating Sea Digital Bank in Singapore. The Bank of Thailand (BOT) plans to announce the three selected operators by June 2024, with virtual banks expected to be operational by 2026. Read more: https://lnkd.in/g3z38tsJ #VirtualBankTH #FinTechThailand #DigitalBankingTH #SCBThailand #GulfEnergy #AISThailand #KTBThailand #CPGroup #BTSGroup #Shopee

Hi everyone! I have article for the last year, in this article I try a new approach that is giving feature pocket and service activities interest. Starting from reviews and doing research, I found new needs for SeaBank Indonesia users; approach to managing finances and muslim principles regarding interest income. By analyzing and comparing features offered by various digital banks, I identified SeaBank's unique value within the Sea Group ecosystem. With its strong potential to become a primary transaction tool for businesses, my goal was to position SeaBank as a top-tier digital bank, capable of thriving in the competitive digital banking landscape. New Feature: ✅ Pocket Balance ✅ Activities Interest Through this article, I hope SeaBank continues to innovate, delivering excellent services to users while maintaining consistency as a leading digital bank. You can read the full article on Medium! https://lnkd.in/gtTTAP-S

At some point in the future there will be no such thing as transport "tickets" or "ticketing" - there will only be transport payments. Today, transport payments may still have unique characteristics which differentiate them from other consumer payments. But as the enormous opportunities of transport payments converge with mainstream digital payments, the legacy payments stakeholders from central banks, banks, non-banks and PSPs are learning how to work with mobility stakeholders to enable open and inclusive payments in transport. The keynote address at Mobility Payments Asia Pacific 2024 will be made by Pak Yosamartha Yosamartha, Director of the Payment System Policy Department at Bank Indonesia. The #MPAP2024 opening address will be made by Pak Tuhiyat, Ak., MM, QIA, CMA, CA, President Director & CEO, PT. MRT Jakarta. Meet experts from the transport payments and consumer payments ecosystems at Mobility Payments Asia Pacific in Jakarta on 24-26 July https://lnkd.in/g7xnmjQc

CHID Bank modernises for Myanmar’s regulatory shift Read the full article: https://bit.ly/3Xn2kUm Soe Sandar Aung, head of core and digital banking at CHID Bank, discussed how the bank is updating its operations to meet new regulatory demands, focusing on digital transformation to improve efficiency and customer service. Myanmar’s banking sector is undergoing significant changes as new regulations are introduced to ensure financial stability and compliance. For Construction Housing and Infrastructure Development Bank (CHID Bank), which has a long history of serving the country's infrastructure and housing development needs, these regulatory shifts have necessitated a comprehensive update to its operational framework. Soe Sandar Aung, who leads the CHID Bank's core and digital banking initiatives, is at the forefront of these changes, steering through a digital transformation that aims to enhance both efficiency and customer service. Connect with senior banking decision-makers and industry practitioners at Finance Indonesia on 12 September 2024. This year’s theme, Innovation and regulatory excellence: Charting our future in banking, will explore the key trends shaping the industry. For more information, visit: https://lnkd.in/gpRDCjfc Temenos Foo Boon Ping 胡文彬, TAB Global #DigitalTransformation #BankingInnovation #CustomerExperience #FinancialInclusion #CoreBankingSystem #AIChatbots #MobileBanking #RegulatoryCompliance #FinancialStability #BlockchainTechnology #MyanmarBanking #InfrastructureDevelopment #TemenosBanking #RealTimeBanking #AutomationInBanking #TheAsianBanker #TABGlobal

Three digital banks in Malaysia—GX Bank Bhd, AEON Bank (M) Bhd, and Boost Bank Bhd—have significantly expanded financial access for underserved communities while offering the convenience of anytime banking. These banks, part of the five digital banking licenses issued by Bank Negara Malaysia (BNM) in 2022, have rapidly increased the adoption of digital payments and contributed to enhanced financial inclusion through regulatory advancements. Digital payment transactions are forecasted to reach US$172 billion (RM765.4 billion) in 2024, a 5% increase from the previous year. This progress aligns with Prime Minister Datuk Seri Anwar Ibrahim’s vision for digital banking. Join our live stream from 9 a.m. to 5:10 p.m. for more market updates, news, and information! Links are in the bio: https://lnkd.in/gGErE9MF ~ #Kleverstock #DigitalBanks #DigitalMalaysia #DigitalBanking #digitalbankmalaysia

The banking industry in Indonesia has seen remarkable growth in the past decade, yet there are still fundamental challenges to tackle. In my discussions with banking professionals, particularly in the credit team, I often see them put forth a very common problem. Out of the 100 things they are supposed to do, they spend a vast majority of their time on manual tasks like digitizing income documents and income analysis from various sources. Something all members happily confess; they would rather delegate to technology partners. If you're facing similar challenges and seeking to stand out in the market, let's connect! Reach out to me at nikita.b@perfios.com for a demo and discover the transformative power of technology. #banking #indonesiabanking #incomeanalysis #documentdigitisation #bankinginnovation

Portal as mentioned below shall be very helpful to fight against scam. This is a great initiative by neighboring country and Nepal Government or concern authorities also should plan accordingly. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. Instapay Technologies Sdn Bhd Instapay Technologies Sdn Bhd 1,533 followers 1,533 followers 1w •     1w • Follow 5 Key Takeaways from 2023 Annual Report of Bank Negara Malaysia Bank Negara Malaysia (BNM) issued its Annual Report 2023 with detailing the insights of important advancements and regulatory measures implemented within the financial sector over the past year. 1. BNM has strategically shifted its focus to the Financial Inclusion Framework 2023–26 aiming at achieving broader developmental outcomes for improving the financial well-being and living standards of Malaysians. 2. Three digital banks (GX Bank, Boost Bank, AEON Bank) have been launched in Malaysia, to provide services primarily aimed at underserved markets such as gig workers, SMEs, and lower-income groups. 3. E-payment transactions grew 20% in 2023 while cross-border payments showed a significant increase. BNM is also exploring technology to simplify compliance processes for cross-border transactions. 4. BNM continues to monitor digital assets' impact on financial stability and explores Central Bank Digital Currencies (CBDCs) to improve cross-border payments. 5. The National Fraud Portal (NFP) is set to launch in mid-2024 to fight financial scams, track stolen funds, and identify fraudsters. In conclusion, Bank Negara Malaysia (BNM) highlighted key achievements and further goals for improving financial inclusion, digital banking, and payment infrastructure in safety as well as capability advancements in its 2023 Annual Report. Source: https://lnkd.in/eCU9Nysy hashtag #FinancialInclusion hashtag #Epayment hashtag #CrossBorderPayments hashtag #DigitalPayments hashtag #FraudPrevention hashtag #MigrantWorkers hashtag #MoneyPayments hashtag #Instapay hashtag #InstapayTech hashtag #Fintech

In the midst of rapid technological advances, digital banks in Indonesia are gaining popularity. Easy access, fast transactions, and low fees are driving users to shift towards digital banking services. Data shows that Millennials and Gen Z in Indonesia highly favor services that are fast, instant, and simplify their lives. According to surveys, more than 70% of this generation prefers digital services that offer speed and efficiency, including in areas like banking, shopping, and communication Thus, Blu BCA is here as a solution-driven app, accessible with just a tap. In this infographic, the Perfecto Team will showcase BLU BCA's positioning and provide innovative strategies called 360° BluStartegy to make Blu more widely accepted and become everyone's favorite app for financial management. More faster, More better, only with BLU BCA 📱💸 Our Team  Grace Sintya Sianturi Adjie M Hafidz Dzakwan Nicholas Immanuel Syahputra Napitupulu, AWP #BBCC2024 #BluBCA #BankDigital #PerfectoTeam