RHB Bank, Axiata to jointly apply for digital banking licence


KUALA LUMPUR: RHB Bank Bhd and Axiata Group Bhd will jointly apply to Bank Negara Malaysia for a digital banking licence under their proposed collaboration.

In a statement on Wednesday, both companies said they had signed an MoU to jointly explore potential collaboration opportunities to bring better customer experience and a better range of joint solutions to both their customers.

“The rationale for the MOU is for RHB Bank and Axiata to explore potential strategic collaboration opportunities, ” according to a joint statement.

The collaboration is also to enhance their joint customer ecosystems offering bundled digital solutions to be mutually agreed and to jointly explore other potential opportunities deemed suitable.

They said the term of the MoU shall be for two years from its commencement date on Wednesday.

As at May 17, the Employees Provident Fund Board has a 41.26% stake in RHB Bank while as at May 21, the EPF has a 17.17% stake in Axiata.

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