Are Digital Banks in Malaysia Closing the Country's Financial Gap? - Fintech News Malaysia

Are Digital Banks in Malaysia Closing the Country's Financial Gap? - Fintech News Malaysia

Back when Bank Negara Malaysia (BNM) granted licenses to five digital banks, the goal was clear: enhance financial inclusion and innovate the nation’s banking landscape. Fast-forward to December 2024, and three banks are already serving customers, with two more underway. Close to 60% of GXBank, AEON Bank, and Boost Bank customers come from traditionally underserved segments, including low-income households and rural communities, according to BNM…