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Pertama Digital in talks to form consortium for digital banking licence

23/04/2021 03:42 PM

KUALA LUMPUR, April 23 -- Pertama Digital Bhd has expressed interest to apply for a digital bank licence and is currently in advanced joint-venture talks to pursue the licence from Bank Negara Malaysia (BNM). 

Its director of strategy, Saify Akhtar, said the company was motivated by and aligned with the financial inclusion emphasis in the licensing framework for digital banks published by the central bank in December 2020.

“We have been hard at work coordinating capital, talent, technology and a captive market and are proud to announce that we have a uniquely sustainable banking model that exceeds the requirements laid out in the framework.

“We look forward to delivering ethical financial products to underserved Malaysians and contributing to our post-pandemic recovery as a nation,” he said in a filing with Bursa Malaysia today.

The deadline to submit applications for the digital banking licence is June 30, 2021

Pertama Digital is the holding company of DAPAT Vista (M) Sdn Bhd, a Malaysian company that specialises in digitalisation of government services. It provides solutions in mobile and web apps; mobile payment and messaging; business empowerment application programming interface (APIs), and other customised digital services. 

Saify said that the company’s vantage point gives an edge because it has a wealth of information and lessons which have resulted in a successful and repeatable system that gets digitally and financially underserved Malaysians transacting online. 

“Our team derives the most satisfaction from seeing our solutions adopted by people who have never made an online bank transfer before, for example. This is why we have collectively decided to pledge our resources into serving this market from here on,” he added.



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