Malaysian company Pertama Digital Bhd announced on Tuesday that it has onboarded Infopro Sdn Bhd, a banking-as-a-service (BaaS) provider, to its consortium that is applying for a digital banking licence from the country’s central bank.
Both parties are finalising the signing of consortium agreements, according to a statement.
“Pertama Digital identified Infopro as the best core banking system provider for Malaysian digital banks because, in addition to offering cutting edge technology, they are closely in touch with our local landscape — from the underserved customers we are targeting to the regulatory environment, including a full suite of Islamic banking modules for our bank,” said Pertama Digital’s director of strategy Saify Akhtar, who leads the company’s digital banking initiative.
Established in Malaysia in 1987, Infopro is a homegrown banking software firm serving more than 100 banks across 32 countries, a vast majority of which is located in Southeast Asia and Africa. Infopro boasts a long list of local and international certifications and awards, including being the only Malaysian company to achieve the highest level of Capability Maturity Model Integration (CMMI) certification, which helps organisations streamline process improvement and decrease risks in software, product and service development.
The announcement also came after Reuters reported on Monday that Malaysian telecom firm Axiata Group Bhd has teamed up with RHB Bank Bhd to apply for a digital bank licence, quoting two sources familiar with the matter.