Malaysia Fintech News

Related Fintech Industry News

• March 2023: MANGOPAY and PayPal expanded their long-term strategic collaboration to give marketplaces instant access to PayPal's international payment capabilities.
• May 2022: Mastercard announced cooperation with Synctera, a renowned FinTech banking service. The firms collaborated to supply account validation solutions for Synctera-powered FinTechs using Mastercard's open banking platform.
• March 2022: Envestnet partnered up with Productfy, a developer of a business-to-business fintech platform. With this collaboration, fintech creators using Productfy's platform would have direct access to Envestnet via a single interface.

• February 2023: Hala, a fintech company in Saudi Arabia, purchased Paymennt.com, a payments service provider based in the United Arab Emirates. With this acquisition, Hala can handle omnichannel payments, integrate digital payments into its product offerings, and help its SME clients become more visible online. According to a press release by Wamda, the platform's payment processing increased by more than 250% yearly.
• January 2022: The Saudi Arabian Monetary Authority (SAMA) issued licenses to 15 new fintech companies to operate in the country, bringing the total number of licensed fintech companies in Saudi Arabia to 45.

• July 2023: Flywire, a software and global payments enablement firm, partnered with Tencent Financial Technology, Tencent's fintech division, to expand Weixin Pay. Chinese families and students who are financing their international education have the option to pay with WeChat Pay.
• February 2023: NBA and Chinese finance startup Ant Group formed a strategic partnership to work on various projects such as membership, broadcasting, and video content.

• March 2023: An excess of USD 8.76 million would be given to the Malaysia Co-Investment Fund (MYCIF) to improve price discovery opportunities and further increase the liquidity of the peer-to-peer (P2P) and equity crowdfunding (ECF) markets. It would increase the total amount of accumulated funds under MYCIF that are available to MYR 300 million (65.34 USD million), according to the Securities Commission (SC). It proved crucial in securing funding for fintech firms as well as MSMEs.
• March 2023: The government set aside USD 0.26 billion to hasten MSMEs' attempts to go digital. It involves offering financial support for digitalization, such as grants for e-commerce platforms and online advertising campaigns. It would make it easier for Malaysian companies, including those in the fintech industry, to reach a larger clientele and broaden their customer base.

• In February 2024, MeasA’s (MEASA) award-winning payments leader, PayTabs, Egypt, announced a strategic partnership with Egypt’s leading BNPL platform, Souhoola. This new BNPL platform will provide merchants with a new way to pay, expanding the variety of online payment options PayTabs Egypt offers.
• In February 2024, MENA’s leading payment orchestration company, PayTabs Group, partnered with Saudi Arabia's leading payment infrastructure as a service fintech brand, Nearpay, to provide users across Jordan and PayTabs' other markets in the region with an enhanced soft POS payment experience.
• In January 2024, MENA’s premier universal financial technology leader, Valu, entered into a strategic alliance with Bosta, one of the leading technological providers of last-mile delivery services in Egypt and in Saudi Arabia. PayTabs Egypt has developed this revolutionary feature to enable the payment of shipments through the IOD feature of the Valu app in Egypt for the first time. This agreement aims to improve the purchasing process and increase the sales of e-commerce companies.
• In March 2023, CoreLogic and Pepper Money, the world’s leading independent property data & analytics provider, entered into a strategic five-year agreement. The agreement covers Australia, New Zealand, and beyond. Pepper Money and CoreLogic have long been partners in Australia, with Pepper Money extending its existing Australian relationship until 2028 and CoreLogic continuing to expand into New Zealand to expand its capabilities and capitalize on operational synergies.

• March 2023: Financial platform Airwallex secured a payment business license in China, following the successful acquisition of a 100% stake in Guangzhou Shang Wu Tong Network Technology Co., Ltd., an information and online payment services company.
• February 2023: Fintech Zeller took on the big four banks to offer financial services to the small business sector, launching a new transaction account, debit card, and app.

• In September 2023, BitDATA Exchange partnered with MatchMove, a leading embedded finance enabler, to introduce a next-generation solution that transforms the way businesses manage their digital assets.
• In July 2023, MatchMove and Stripe collaborated to provide seamless payments for partners and merchants on the MatchMove-owned Shopmatic platform. MatchMove has integrated Stripe payments. MatchMove enables companies to offer a fully branded secure mobile wallet solution.
• November 2022: The United Kingdom and Singapore have agreed a new MoU boosting fintech trade and cooperation at their 7th Financial Dialogue in Singapore

• December 2023: Bitfinex Securities Ltd. secured USD 5.2 million in USDT by leveraging its tokenized bond ALT2612. The fundraising initiative was made possible through the assistance of ALTERNATIVE, a securitization fund based in Luxembourg and managed by Mikro Kapita, a renowned microfinancing company.
• October 2023: Quantstamp, a renowned player in web3 security, has unveiled DeFi Protection, an innovative security solution that compensates users for their DeFi losses. DeFi Protection is a cutting-edge product that thoroughly examines the security of smart contracts, promptly notifies users about potential risks, and ensures round-the-clock assistance from skilled security auditors. Significantly, this remarkable offering includes a guarantee program that promises to reimburse DeFi Protection customers for any financial setbacks resulting from a lapse in Quantstamp's security services.

• July 2024: Allianz Partners has become the travel insurance provider for TUI, a major UK travel and leisure company. The insurance coverage extends to TUI's direct customers and those of its brands, Marella Cruises and Crystal Ski Holidays. This UK partnership is part of TUI's broader strategy to consolidate European travel insurance services with Allianz Partners, following successful implementations in Germany, Poland, Switzerland, and Nordic countries.
• January 2024: Allianz Partners launched the Allyz mobile app, a digital platform offering travelers advice, expert insights, and access to insurance benefits. The app's initial release in France, Germany, and the Netherlands signifies Allianz Partners' commitment to digital expansion, with plans to introduce more digital services across all business lines throughout 2024.

• May 2024: Mercury Insurance collaborated with Tokio Marine America (TMA) to devise a strategy for transitioning TMA's customers from its subsidiary Trans Pacific Insurance Company (TPIC) to Mercury Insurance.
• September 2023: Allianz Versicherungs-AG and Fleetpool, a car subscription provider, strengthened their strategic partnership in the new mobility industry. This collaboration aims to enhance innovative mobility solutions and expand the market presence of these companies.