Ride-hailing group Grab, gaming firm Razer, AirAsia, telecoms firm Axiata and le...
SINGAPORE/KUALA LUMPUR - Ride-hailing group Grab, gaming firm Razer, AirAsia, telecoms firm Axiata and lender CIMB are among companies looking to apply for digital banking licenses in Malaysia, sources told Reuters.
Some of these companies have begun talking to consultancies as they explore a possible foray into digital banking, said the people familiar with the matter. “Many financial and non-financial institutions are sizing up market opportunities and working with external parties,” said one of the people, who declined to be identified as they were not authorized to speak to the media.The people said Razer - whose fintech unit led a consortium for a Singapore application - was in talks with a local conglomerate for a Malaysian license. Local lenders Hong Leong Bank and Maybank are also considering bidding for a license, the people said.
One option for Axiata is to apply through Axiata Digital Services, which houses all of the group’s digital ventures and owns the e-wallet Boost. AirAsia’s financial services venture, BigPay, operates an e-wallet that comes with a prepaid card.Ant Financial and Touch n’ Go’s e-wallet is the largest e-wallet service in Malaysia with 6.9 million registered users. CIMB, which owns a majority stake in Touch n’ Go, is exploring a license bid, the people said.
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