KUALA LUMPUR, 30 JUNE: Pertama Digital Bhd said today that it had submitted an application to Bank Negara Malaysia for a digital bank license (BNM). According to a filing with Bursa Malaysia, the Pertama Digital consortium plans to focus its Islamic digital bank on financially unserved and underserved people.
“The digital bank seeks to provide affordable and ethical financing products in the long run, while assisting the B40 (bottom 40% income group) and micro, small and medium companies (MSMEs) in cultivating sound financial management and boosting post-pandemic production,” it stated.
To summarize, on April 23, 2021, Pertama Digital announced interest in applying for a digital bank license and has been in advanced joint-venture (JV) talks with the central bank to pursue a license.
Crowdo Holdings Pte Ltd, a SME-focused neobank for emerging ASEAN markets, was announced as a consortium partner on May 24, followed by INFOPRO Sdn Bhd on June 1.
On June 9, the company established a partnership with financial inclusion ecosystem providers Trevo, Paywatch, Qoala, and Butterfly FX.
On June 18, Pertama Digital formed a joint venture with Experian to investigate alternative credit scoring options, and on June 24, it secured financial backing from Labuan offshore bank Perfect Hexagon Commodity and Investment Bank Ltd and technology and communications company Alsirat Sdn Bhd. Continue reading
