Fast forward to today, he said that with Bank Negara’s virtual banking licensing framework taking flight from June 2020, the industry is seeing bank leaders paying more attention to the capabilities needed for digitalisation.
KUALA LUMPUR: Malaysian banks are underspending in technology and could be challenged by Chinese big tech firms such as Alibaba and Tencent in the virtual banking space.
Hitachi Vantara Sdn Bhd managing director Moti Uttam said Global Data, a data analytics and consulting company, had projected Malaysia’s tech industry to invest about US$25.2bil by 2023, driven by increased demand for client computing and cloud solutions.
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