Razer Fintech keeps options open on digital banking licence


In Malaysia, besides Razer Fintech, several other companies that are exploring bids for Malaysia’s digital bank licence are Grab, AirAsia, telecoms provider Axiata and lender CIMB.

KUALA LUMPUR: On its own or in a consortium, Razer Fintech is keeping its options open in vying for one of the five digital banking licences to be offered by Bank Negara, chief executive officer Lee Li Meng said.

“There is a lot of speed dating that is happening in the digital banking environment. I have spoken to a few myself and we are keeping our options open, ” he said.

Razer Fintech, which is mainly a gaming company, has partnered Berjaya Corp for its e-wallet Razer Pay in Malaysia that is accepted in more than 6,000 retail and food and beverage outlets.

“End of the day, it all depends on Bank Negara’s requirement and regulation framework. So, we are keeping our options open, ” he told Bernama.

In Singapore, Razer Fintech leads a consortium of Sheng Siong Holdings, FWD, LinkSure Global, Insigna Ventures Partners and Carro to bid for digital full bank licence. It will take up 60 per cent stake in Razer Youth Bank, while the remaining by its consortium partners.

In Malaysia, besides Razer Fintech, several other companies that are exploring bids for Malaysia’s digital bank licence are Grab, AirAsia, telecoms provider Axiata and lender CIMB.

Lee said its strategy in Malaysia would be the same as in Singapore, which is to bank on the youth. — Bernama

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