Pertama Digital partners Crowdo for digital bank ambitions


KUALA LUMPUR: Pertama Digital Bhd has partnered Crowdo Holdings Pte Ltd as its first consortium partner to apply for a digital bank licence from Bank Negara.

On April 23, Pertama Digital had announced its aspirations to make its foray into digital banking via a joint venture to apply for the license from the central bank.

The application deadline for the licence is June 30, 2021.

According to a statement issued by Pertama Digital, Crowdo is an SME-focused neobank with an AI-powered credit scoring engine specialised for emerging markets in Asean.

The company was launched in 2018 and is backed by investors such as Gobi Partners, it added.

"Crowdo brings years of priceless insights and validated turnkey solutions from delivering productive financing to MSMEs that are overwhelmingly operated by Indonesians with no credit history.

"This partnership will allow our Malaysian digital bank to immediately serve thousands of businesses in a viable manner from Day One.

"This is a key part of our strategy to boost economic participation amongst our financially underserved as quickly as possible, while aligning completely with the framework set by Bank Negara Malaysia," said Pertama Digital.

According to the company, it is building a bank that offers responsible financing and intends to handhold customers to boost financial literacy as well as cater for Malaysia's financially underserved.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Foreign outflows slow down on Bursa
KLCI opens higher but drifts lower thereafter
Trading ideas: Bumi Armada, Paragon Globe, Apollo, VS Industry, Hong Seng
Insight - Fear missing in Wall Street’s slow-motion bear market
High commodity prices boost Bursa activity
From great resignation to great rethink
On the right track to secure high- quality deals
Food distributor Fandbee on expansion drive
Media owners’ advertising revenues seen to surge
Lazada launches new brand proposition

Others Also Read