The Swiss wealth technology provider will support Maybank’s regional wealth management business through Advisor Assist, an AI-powered platform built on Evooq’s technology.

The tool will help relationship managers review client portfolios, assess risk and identify possible next steps for clients.

It will also give Maybank’s wealth teams access to portfolio data, investment opportunities and advisory insights through a single platform across key markets.

Alice Tan, Maybank’s head of group wealth management, said the collaboration would help the bank combine human expertise with technology and give clients more personalised advice, including around portfolio risk.

According to Evooq managing director Gery Dachlan, the deal reflects rising demand for more personalised wealth management tools as financial institutions in the region continue to digitise their advisory services.

Featured image: Edited by Fintech News Malaysia, based on image by smartmalik6384 via Magnific

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As investor expectations evolve and competition intensifies, financial institutions are looking beyond traditional infrastructure to build more agile, resilient, and intelligent digital platforms.

At the same time, emerging technologies such as artificial intelligence (AI) are reshaping how financial institutions engage customers, manage risk, process data, and deliver investment experiences.

For organisations seeking to remain competitive in a digital-first economy, cloud infrastructure has become the foundation upon which future innovation is built.

For Alibaba Cloud, this shift reflects a growing recognition that cloud and AI are strategic enablers of growth, resilience, and innovation.

One example of this transformation is the ongoing collaboration between Alibaba Cloud and M+Global by Malacca Securities, an online trading platform for investing in Bursa Malaysia and foreign stock exchanges.

Why Cloud Is Reshaping Financial Services

Across Southeast Asia, financial institutions are accelerating cloud adoption to support digital transformation initiatives.

Beyond improving operational efficiency, cloud infrastructure enables organisations to process large volumes of data in real time, scale resources dynamically, strengthen security, and respond more effectively to customer demands.

In Malaysia, this is particularly relevant as financial institutions balance increasing demand for digital-first services while maintaining strict regulatory, security, and compliance standards.

As investors expect seamless digital experiences and access to real-time insights, institutions must ensure their technology infrastructure can support both innovation and resilience.

For financial institutions, cloud is no longer simply an IT decision.

It has become a strategic business imperative. The ability to innovate, scale, and respond quickly to changing market demands depends on having the right cloud infrastructure in place.

Inside Alibaba Cloud and M+Global’s Cloud Adoption Journey

The collaboration between Alibaba Cloud and M+Global began with a shared objective: to future-proof the platform and support its next stage of growth.

What started as a cloud migration initiative has evolved into a strategic partnership focused on scalability, resilience, international market expansion, and AI readiness.

By leveraging the infrastructure and expertise of Alibaba Cloud in supporting high-concurrency financial services environments, M+Global transformed into a cloud-native trading platform designed to meet the evolving needs of modern investors.

Investors can now access Malaysian, Hong Kong, and US markets through a single platform, while dynamic scaling capabilities enable it to support higher trading volumes during periods of peak activity.

Today M+Global serves more than 400,000 investors, making it one of Malaysia’s leading digital investment platforms, with the majority of transactions conducted through mobile devices, reflecting growing demand for digital-first investing experiences.

Beyond infrastructure modernisation, the partnership has laid the foundation for future AI innovation through enhanced data processing, cloud-native analytics, and scalable computing capabilities.

“Cloud and AI give us scale, but our edge is guidance.

M+Global pairs that infrastructure with real human dealers and 60 years of market experience — so investors get a digital platform that still has someone in their corner.”

said Lim Chia Wei, Managing Director, M+Global by Malacca Securities.

For Alibaba Cloud, the collaboration demonstrates how cloud transformation can go beyond infrastructure migration to enable innovation, improve user experiences, and support long-term growth within highly regulated industries.

The Next Frontier: AI-Powered Financial Services

While cloud transformation remains a critical priority, AI is increasingly becoming the next major focus area for financial institutions across the region.

Across Malaysia and Southeast Asia, Alibaba Cloud is seeing growing interest in AI applications spanning customer engagement, risk management, fraud detection, operational automation, and investment intelligence.

From intelligent assistants and personalised recommendations to real-time risk monitoring and advanced analytics, these capabilities are helping financial institutions deliver more relevant investor experiences, strengthen security, improve operational efficiency, and support faster, data-driven decision-making.

For platforms such as M+Global, the cloud-native foundation already in place provides the infrastructure necessary to explore these opportunities responsibly and at scale. 

M+Global is already exploring AI-enabled capabilities such as personalised investor experiences, intelligent market alerts, and enhanced security measures to help investors make more informed decisions while improving efficiency and platform security.

As these capabilities continue to evolve, both organisations remain committed to ensuring innovation is accompanied by strong governance and regulatory compliance.

Building AI Responsibly in a Regulated Environment

As AI adoption increases, responsible implementation becomes increasingly important, particularly within financial services.

At Alibaba Cloud, responsible AI principles are embedded throughout the innovation lifecycle, including robust data governance, transparency, human oversight, and alignment with regulatory requirements.

For financial institutions, trust remains the foundation of every customer relationship. Ensuring AI systems are secure, explainable, and compliant will be essential to unlocking their full potential.

Supporting the Future of Financial Services in Malaysia

The partnership between Alibaba Cloud and M+Global demonstrates how cloud transformation can help financial institutions scale, expand access to global markets, and build a foundation for responsible AI innovation.

As investor expectations continue to evolve, Alibaba Cloud remains committed to supporting Malaysia’s financial services sector with the infrastructure, expertise, and innovation needed to thrive in a digital future. 

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GXBank, Boost Bank, AEON Bank, Ryt Bank and KAF Digital Bank are all in the market, giving savers more places to park their money without opening a traditional branch-based account.

The sector is no longer just about new app launches either.

By the end of 2025, Malaysia’s digital banks had collectively served 2.4 million customers and held RM4.2 billion in deposits, according to Bank Negara Malaysia.

Around 65% of their customers came from unserved and underserved groups, including low-income households, gig workers and youth.

Now, as the first wave of digital banks moves beyond customer acquisition, pricing is also starting to reflect a bigger focus on profitability and unit economics.

The shift helps explain why some headline offers have become more conditional, or why base rates have been revised lower.

With more Malaysians using these banks, deposit returns are becoming a bigger part of the comparison.

Some digital banks pay a simple daily rate on normal savings. Others offer higher returns only when money sits inside a pocket, jar or pot.

A few headline rates also come with campaign periods, spending requirements or balance caps.

The digital bank savings rate in Malaysia, therefore, cannot be judged by the highest number alone.

Savers need to know how much they can earn, where the money needs to sit, and what conditions apply.

Here are the current savings rates, profit rates and hibah information for Malaysia’s five digital banks.

Malaysia Digital Bank Savings Rates at a Glance

Last Updated: 25 June 2026

GXBank Keeps the Basic Rate Simple

GXBank is one of the easier digital banks to understand from a savings point of view.

Its main savings account gives 2.00% p.a. daily interest with no minimum balance, no lock-in period and no stated balance limit. Savings Pockets also earn the same 2.00% p.a. daily interest as the main account.

The rate used to be higher. GXBank reduced the daily interest rate for Main Accounts and Savings Pockets from 3.00% p.a. to 2.00% p.a. from 1 October 2024, after onboarding more than 800,000 users in its first year.

Users who want a higher return can look at Bonus Pocket. GXBank currently offers 3.18% p.a. for a 3-month tenure and 3.55% p.a. for a 6-month tenure, inclusive of the 2.00% p.a. base rate.

The trade-off is flexibility.

GXBank says users can withdraw early, but they will forfeit the accrued bonus interest. The daily 2.00% p.a. base interest already credited remains theirs.

Boost Bank Offers a Higher Rate, But the Best Jar Needs Spending

Boost Bank’s basic savings account currently pays 2.50% p.a. daily interest, which is a little bit higher than GXBank’s basic rate.

Money placed into Savings Jars can earn 3.00% p.a. daily interest. Boost Bank also has Special Jars, where promotional rates can go higher depending on the campaign.

The highest rate currently shown comes from the BoostUP Jar, which offers 4.00% p.a. daily interest.

Users need to spend at least RM500 monthly with Boost Wallet to maintain access to the BoostUP Jar. The BoostUP Jar also has an RM3,000 deposit cap.

AEON Bank’s Best Rate Sits Inside Savings Pots

Another player in the comparison is AEON Bank, which takes a different route as an Islamic digital bank. Its returns are structured as profit rates rather than conventional interest.

Its Savings Account-i has a prevailing profit rate of 0.25% p.a., but Savings Pots currently offer a promotional profit rate of 3.00% p.a.

The promotion page states that the 3.00% p.a. Savings Pot campaign ends on 31 August 2026.

Savers will get more value from the Savings Pot than the main account while the promotion is active. Leaving money in the main Savings Account-i would mean earning a much lower prevailing profit rate.

AEON Bank also allows users to create up to 20 Savings Pots, which may appeal to people who like to separate money for different goals.

The promotional rate is fairly straightforward, too, since users do not need to meet a card spending requirement to earn it.

The main thing to watch is the promo period. After the campaign ends, the rate may change.

Ryt Bank Offers 4.00% p.a., But Users Need to Unlock the Bonus

Ryt Bank is a slightly unusual case in this comparison.

The digital bank gained traction quickly after launch, reaching 1.2 million users in just over seven months.

During that time, it had also processed more than 25 million transactions, with monthly transaction volume rising more than 35 times since launch.

Back in November 2025, Ryt Bank was still maintaining a 4.00% p.a. savings rate through Save Pockets, with users able to keep earning the boosted rate by using the Ryt Card or making JomPAY payments.

The structure has since changed.

Under the revised campaign, it still maintains the rate up to 4.00%, but the bank now gives users 2.05% p.a. base interest, plus 1.95% p.a. bonus interest on the first RM20,000 across Save Pocket balances, rather than the 3.00% p.a. base and an additional 1.00% p.a. bonus.

The campaign is also capped at RM300 million in total deposits across all customers, on a first-come, first-served basis.

Just like the previous deal, the 4.00% p.a. return is not automatic for everyone.

Users need to collect five stamps to unlock the bonus interest for 30 days. Each stamp comes from an eligible transaction, such as Ryt Card spending of at least RM10 or selected JomPAY bill payments of at least RM10.

The campaign runs from 18 June 2026 to 30 September 2026.

KAF Digital Bank Should Be Compared Differently

Rounding out the comparison is KAF Digital Bank, another Islamic digital bank with a savings return that should not be placed in the same bucket as fixed interest rates.

The bank publishes historical hibah for its Savings Account-i. Recent entries show 5.00% p.a. on the first RM2,000 and 3.00% p.a. on balances above RM2,000.

At first glance, this looks like the highest number in the market, but hibah works differently from a guaranteed rate.

Under this structure, hibah is a voluntary and non-contractual gift from the bank.

Depositors may or may not receive it, and financial institutions are not allowed to guarantee or advertise future hibah rates for qard-based deposits (deposits structured as an Islamic benevolent loan, where the bank may return a discretionary gift rather than a contractual rate).

The historical figures are still useful, but readers should treat them as past data rather than a promised return.

So, Which Digital Bank Should You Choose?

Choosing the best digital bank in Malaysia should be more than just about picking the highest percentage.

People looking for the highest stated return may look at Boost Bank or Ryt Bank, since both currently offer up to 4.00% p.a. through selected savings features.

Those who want a simpler savings experience may prefer GXBank or Boost Bank’s basic account, depending on whether they value simplicity or a higher basic rate.

AEON Bank may appeal to users who prefer Islamic banking and want to use Savings Pots during the 3.00% p.a. promotional period.

KAF Digital Bank is interesting because its historical hibah has been high, especially on the first RM2,000. The important word is historical. Hibah is discretionary, so it should not be treated like a guaranteed digital bank interest rate.

The best digital bank interest rate in Malaysia is the return you can realistically earn on the amount you plan to save, without relying on conditions that do not match how you already spend.

FAQs

1. Which digital bank in Malaysia gives the highest savings return?

KAF Digital Bank shows a historical hibah of 5.00% p.a. on the first RM2,000, but hibah is discretionary and not guaranteed.

Among stated promotional or campaign rates, Boost Bank and Ryt Bank currently offer up to 4.00% p.a. with conditions.

Boost Bank’s BoostUP Jar comes with an RM3,000 deposit cap and a monthly Boost Wallet spending requirement.

Ryt Bank’s 4.00% p.a. return applies to the first RM20,000 across Save Pockets, but users need to collect five eligible stamps to unlock the bonus.

2. Which digital bank in Malaysia has the best basic savings interest rate?

Boost Bank currently has the highest basic savings rate among the five, at 2.50% p.a. daily interest on its Savings Account.

Ryt Bank offers 2.05% p.a. base interest under its current campaign, while GXBank pays 2.00% p.a. on its Main Account and Savings Pockets.

AEON Bank’s Savings Account-i has a 0.25% p.a. prevailing profit rate, although its Savings Pot offers a higher promotional profit rate.

3. Which digital bank is easiest to earn interest from?

GXBank is one of the simplest because users earn 2.00% p.a. on the Main Account and Savings Pockets without needing to meet spending requirements.

Boost Bank’s basic Savings Account rate is higher at 2.50% p.a., while Savings Jars offer 3.00% p.a. However, its highest 4.00% p.a. BoostUP Jar rate requires monthly Boost Wallet spending from the second month onwards.

4. Is Boost Bank’s 4.00% p.a. rate automatic?

No. Boost Bank’s 4.00% p.a. rate applies to the BoostUP Jar. Users need to meet the monthly Boost Wallet spending requirement from the second month onwards, and the BoostUP Jar has an RM3,000 deposit cap.

5. Is Ryt Bank’s 4.00% p.a. rate automatic?

No. Ryt Bank’s 4.00% p.a. return combines 2.05% p.a. base interest with 1.95% p.a. bonus interest.

Users need to collect five eligible stamps to unlock the bonus, and the bonus applies to the first RM20,000 across Save Pockets.

6. What does KAF Digital Bank’s historical hibah mean?

Historical hibah means KAF has shown that hibah was paid at that rate in past periods. It is not a guaranteed future return.

KAF’s recent historical hibah table shows 5.00% p.a. on the first RM2,000 and 3.00% p.a. above RM2,000, but hibah remains discretionary.

7. Which Malaysian digital banks are Shariah-compliant?

AEON Bank and KAF Digital Bank are Islamic digital banks.

GXBank, Boost Bank and Ryt Bank are licensed conventional digital banks, so the savings products compared in this article are conventional interest-bearing products.

8. Are digital bank deposits protected by PIDM in Malaysia?

Eligible deposits placed with PIDM member banks are protected up to RM250,000 per depositor per member bank.

However, PIDM protection does not mean every advertised return is guaranteed. Users should still check each bank’s terms, especially for promotional rates, bonus interest and discretionary hibah.

9. Should I choose the digital bank in Malaysia with the highest interest rate?

Not always.

The highest rate may come with spending requirements, balance caps, campaign periods or discretionary hibah.

A better choice is the bank that gives the best return on the amount you actually plan to save, with conditions you can realistically meet.

Featured image: Edited by Fintech News Malaysia based on an image by pick graphics via Magnific.

Infographic images: Edited by Fintech News Malaysia based on an image by altervelt via Magnific and the respective bank websites.

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The facility is particularly aimed at improving accessibility for Bumiputera users. It helps them build long-term wealth through structured monthly payments, rather than requiring a large upfront capital commitment.

Bumiputera users currently make up 70% of TNG eWallet’s Amanah Saham Nasional Berhad (ASNB) investor base. This demographic also contributes 52% of the total investment value on the platform.

Since integrating ASNB services in 2023, TNG eWallet has reported a 44% year-on-year increase in active investment users as of May 2026.

The new financing option builds on this existing integration. It allows users to view and manage their ASNB investments directly within the application.

Financing amounts range from RM10,000 to RM200,000, with flexible repayment tenures spanning between five and 40 years.

The application process is fully digital. Users can apply, track their status, and monitor their investments without visiting a bank branch or submitting physical paperwork.

“As our first Islamic financing offering on TNG eWallet, this launch also marks an important step in strengthening the breadth of financial solutions available within GOfinance,”

said Desmond Teoh, Chief Financial Services Officer at TNG Digital.

The ASB Financing feature channels funds into ASB investments through the CIMB Islamic financing structure, expanding TNG eWallet’s digital financial services portfolio.

“We are pleased to collaborate with TNG Digital in driving the next phase of digital financial inclusion,”

said Haniz Nazlan, CEO, Group Consumer Banking at CIMB.

Featured image credit: Edited by Fintech News Malaysia, based on image by vishaldesignstudio via Magnific

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The action followed an on-site supervisory examination, which found that AEON Credit had onboarded a customer listed as a specified entity under Malaysia’s Domestic List.

As a reporting institution, AEON Credit must reject potential customers who match names on the Domestic List or the United Nations Security Council Resolutions List, and freeze their funds once their identity is confirmed.

BNM found that AEON Credit failed to reject the customer despite a positive match and delayed freezing the account after confirmation.

The central bank attributed the breaches to weak staff oversight and gaps in AEON Credit’s standard operating procedures.

AEON Credit has since strengthened its procedures and carried out refresher training for relevant staff.

BNM based the penalty on the severity of the breaches, AEON Credit’s lack of reasonable care, its past compliance record and the remedial steps taken after the incident.

AEON Credit paid the RM520,000 fine on 16 April 2026.

Featured image: Edited by Fintech News Malaysia, based on image by nikosobolev89 via Magnific

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According to The Edge, AEON Credit Service (M) Bhd CEO Daisuke Maeda said the group expects the digital bank’s losses to ease in FY2027.

The bank has completed much of its early setup work, including the development of its core banking system.

Its next priority is to grow assets and financing income by reaching customers across AEON Credit’s ecosystem. This includes hire purchase customers, dealers, SMEs and micro-SMEs.

AEON Co (M) Bhd’s retail operations could also give the digital bank access to suppliers and tenants across its hypermarkets, supermarkets and shopping malls in Malaysia.

AEON Bank began operations in 2024 and is one of Malaysia’s five licensed digital banks.

It is jointly owned by AEON Credit and Japan’s AEON Financial Service Co Ltd.

AEON Credit’s share of losses from AEON Bank rose to RM85.22 million for FY2026 ended 28 February 2026, compared with RM68.33 million a year earlier.

The higher loss was mainly driven by technology, staffing and marketing expenses, including support for the launch of business banking.

Maeda said AEON Credit has no immediate plan to inject more capital into AEON Bank after its latest RM125 million subscription for additional shares.

The group will assess any future capital needs based on the bank’s growth and regulatory requirements.

Featured image: Edited by Fintech News Malaysia, based on image by digitizesc via Magnific

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Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) held the first meeting of the Malaysia International Islamic Financial Centre Advisory Panel, known as MAP.

MAP was set up as an inter-agency advisory and consultation platform to support Malaysia’s position as a global Islamic finance marketplace and international gateway.

It will provide strategic guidance to the MIFC Business Network, an industry-led platform focused on Malaysia’s Islamic finance agenda and business development efforts.

Guiding Malaysia’s Islamic Finance Agenda

The panel will also help align industry initiatives with national economic priorities, review business challenges and identify cross-border opportunities.

MAP is co-chaired by BNM and SC. Its members include the Ministry of Finance, the Ministry of Investment, Trade and Industry, Bursa Malaysia, the Employees Provident Fund, Khazanah Nasional, Kumpulan Wang Persaraan, Permodalan Nasional, Lembaga Tabung Haji and the Labuan Financial Services Authority.

Tan Sri Azman Mokhtar and Tan Sri Abdul Wahid Omar are also part of MAP as business envoys.

The panel’s launch comes as the MIFC Leadership Council formally transitions into the MIFC Business Network.

The shift gives the industry a larger role in driving Malaysia’s Islamic finance priorities, with support from public sector agencies.

The MIFC Business Network will focus on carrying out strategic priorities and identifying business opportunities as Malaysia looks to strengthen its role as a global Islamic finance hub.

Featured image: The inaugural meeting of the Malaysia International Islamic Financial Centre (MIFC) Advisory Panel was held on 22 June 2026, attended by its members and Co-Chairs [centre] Dato’ Sri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia (BNM) and Dato’ Mohammad Faiz Azmi, Chairman of the Securities Commission Malaysia.

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The Rapid Bulanan digital pass offers unlimited rides for 30 consecutive days across Rapid KL’s network, including the LRT, MRT, Monorail, BRT Sunway, Rapid KL buses and MRT feeder buses.

The pass is available to both Malaysians and non-Malaysians. This differs from the My50 pass, which is only offered to Malaysian citizens.

With the new digital option, users no longer need to queue at station counters to activate or renew the pass.

The process can be completed through a smartphone, as long as the device supports Near Field Communication (NFC) and the TNG eWallet app has been updated to the latest version.

The rollout forms part of Rapid KL’s wider effort to digitalise public transport services and encourage cashless payments.

Users who prefer the existing method can still buy the pass physically at Rapid KL station counters.

The digital Rapid Bulanan pass is aimed at making monthly travel pass purchases easier for frequent public transport users and reducing the need for physical transactions at stations.

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Ganesh was an independent director at MDEC from February 2025 before taking on the chairman role in June 2026.

He is the founder and executive chairman of Commerce.Asia, and also serves as chairman of Xamble Group and independent director at Payments Network Malaysia (PayNet).

Ganesh has held several roles in Malaysia’s technology sector, including as co-founder of MOL AccessPortal, which later became part of MOL Global. He was also involved in Friendster after its acquisition by MOL.

He previously served as chairman of PIKOM, the National Tech Association of Malaysia, and was a board member of the Malaysian Global Innovation and Creativity Centre.

MDEC said his experience in technology, business and public-private sector work would support the agency’s role in Malaysia’s digital economy agenda.

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The service, offered under CIMB’s GreenBizReady proposition, helps businesses measure greenhouse gas emissions and identify steps to reduce them.

Smaller companies may face growing requests for emissions data from larger corporate customers that need to report supply chain emissions under Malaysia’s National Sustainability Reporting Framework.

The Companies Commission of Malaysia has also proposed mandatory Scope 1 and Scope 2 greenhouse gas disclosure requirements for some non-listed companies, including those with annual revenue above RM15 million.

Businesses may finance selected initiatives through CIMB’s Sustainability Linked Financing programme, which offers rebates of up to 0.50% per annum for customers that meet agreed emissions reduction targets.

CIMB has allocated RM3 billion for the programme until 2030. The bank is also targeting RM300 billion in sustainable finance mobilisation by 2030.

Ahmad Shazli Kamarulzaman, Co-Chief Executive Officer of Group Commercial Banking, CIMB Group said,

“Our GHG Advisory Service aims to simplify this process by translating complex climate and emissions requirements into practical, business-focused actions with sector specific guidance and tools to measure and manage their carbon footprint.

We can help businesses to identify operational improvements and opportunities that support decarbonisation, cost savings and business growth, including protecting against shocks such as escalating fuel and energy prices due to geopolitical uncertainty such as the Iran war.”

Featured image: Edited by Fintech News Malaysia, based on image by user5604845 via Magnific

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