KUALA LUMPUR: Eighteen banking institutions have confirmed participation in the Phase 2 Sandbox for the phased, orderly integration of MyDigital ID into the financial sector, in line with international best practices.
The Phase 2 Sandbox is currently underway to test the new MyDigital ID technology, e-verification, which is the mechanism for verifying a user’s identity when opening a new account and conducting secure real-time banking transactions.
The government, through MyDigital ID Sdn Bhd (MyDID) and Bank Negara Malaysia (BNM), is responsible for implementing MyDigital ID integration with security-by-design, privacy-preserving measures, and auditable governance to ensure a robust, trustworthy system ready for deployment.
"Ten of the 18 banking institutions are currently undergoing the integration process, while two banks have completed integration.
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