National Bank is likely to announce the results of its digital banking application next week!
In February, NB President Dato’ Nosanya revealed that the list of successful applicants for Digital Banking in the country would be announced in March at the earliest. NBG has received a total of 29 applications for digital banking and NBG will only issue a maximum of 5 digital banking licenses.
According to the Nanyang Siang Pau, the consortium of Axiata and RHB has the biggest advantage and is likely to be awarded the digital banking license by the National Bank.
Other potential winners include Kenanga, the Sarawak government and Revenue.
Digital Banking refers to the complete digitization of a bank and all its activities, programs and functions. Unlike traditional banks, digital banks no longer rely on a physical branch network, regardless of whether they have branches or not, but use the digital network as the core of the bank
Digital banks can complement traditional banks, which now mainly serve people with good credit histories, and those who do not have credit histories have difficulty in obtaining loans from traditional banks. Therefore, the digital bank will mainly help those who do not have credit history, and the digital bank will determine in other ways whether the person is eligible to borrow.
