RHB Bank

2022 - 10 - 31

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Image courtesy of "Bloomberg"

Malaysia's RHB Aims to Launch Digital Bank in 2023, CEO Says (Bloomberg)

RHB Bank Bhd. plans to introduce its digital banking platform as early as the second half of next year, its top executive said, as Malaysia's fifth biggest ...

[Axiata Group Bhd.](/quote/AXIATA:MK), could invest as much as 1 billion ringgit ($212 million) in the venture, RHB’s Chief Executive Officer Mohd Rashid Mohamad said in an interview at his office in Kuala Lumpur. The others chosen include ventures led by Singaporean tech firms [Grab Holdings Ltd.](/quote/GRAB:US) and [Sea Ltd.](/quote/SE:US) Boost and RHB were among five groups that [won](https://www.bloomberg.com/news/articles/2022-04-29/grab-misses-out-as-rhb-wins-malaysia-digital-bank-license) digital bank licenses from [Bank Negara Malaysia](/quote/BN:MK), the country’s central bank, in April.

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Image courtesy of "The Edge Markets MY"

RHB aims to launch digital bank in 2023, CEO says (The Edge Markets MY)

(Oct 31): RHB Bank Bhd plans to introduce its digital banking platform as early as the second half of next year, its top executive said, as Malaysia's fifth ...

The international business contributed 9% to pretax profit in the first half of this year versus 3% in 2021, Rashid said, adding that RHB aims to have the segment accounting for 15% of pre-tax earnings by 2024. “We will be using more of AI and technologies to assess their credit based on the data points and models that we have put in place.” We need to put up a new core banking system and infrastructure product proposition that are in line with Bank Negara’s requirements.”

CEO: RHB aims to launch digital bank in 2023 (The Star Online)

KUALA LUMPUR: RHB Bank Bhd plans to introduce its digital banking platform as early as the second half of next year, according to its top executive, ...

“We will be using more of artifical intelligence and technologies to assess their credit based on the data points and models that we have put in place.” We need to put up a new core banking system and infrastructure product proposition that are in line with Bank Negara’s requirements.” The other four licence holders haven’t given a timeline on their rollout.Established firms like RHB are facing pressure from fintech upstarts that move quickly to embrace new technology and are often more willing to burn through piles of cash to peel away their clients.

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