PETALING JAYA: Following the recent award of digital banking licences to companies in closest neighbour Singapore, interest in the local digital banking scene has been gaining traction.
Observers say like Singapore, the ability to bring in technology including proven digital straight through processing or STP in order to drive efficiency in the banking sector will be a crucial determinant in the dishing out of the licences.
“Bank Negara hopes that new players can apply big data and artificial intelligence to better improve risk management and productivity, ” one seasoned industry observer told StarBiz.
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