BigPay officially applies for a Digital Banking Licence in Malaysia
BigPay has officially submitted its application for a digital banking licence to Bank Negara Malaysia.
BigPay has put together a strong consortium of strategic partners to support its application: Malaysian Industrial Development Finance Berhad (MIDF), Ikhlas Capital and a foreign conglomerate with fintech expertise. Each of the consortium partners is contributing something unique for the success of BigPay Bank. In addition to the consortium partners, BigPay is part of the airasia Group and has access to a broad ecosystem that includes eCommerce merchants and consumers, insurance and telecoms.
Over the past 4 years, BigPay has successfully added a number of regulated financial products to its offerings, from e-money and international remittance to micro insurance and budgeting, with the goal of being a one-stop solution for Malaysians’ financial needs. In the coming months, BigPay will launch a number of new services – including responsible credit, micro savings and an offering for mSMEs and freelancers.