AEON Bank has obtained approval from the Bank Negara Malaysia and the Minister of Finance to launch its digital banking operations in the region of Malaysia. Following this announcement, customers and users in the area will be given the possibility to benefit from AEON Bank’s digital banking operations in a secure and efficient manner.

AEON Bank’s strategy is focused on advancing the overall promotion of financial inclusion and Islamic banking within multiple regions around the world. This approval represents an important step towards this plan, as the financial institution will continue to focus on the needs, preferences, and demands of its customers, while also remaining compliant with the requirements and laws of the local industry. AEON Bank represents a subsidiary of the AEON Credit Service and AEON Financial Service, its approval to be a digital bank in the region of Malaysia being granted under Bank Negara Malaysia’s validation of the financial institution’s operational readiness.

More insights on the announcement AEON Bank is expected to provide clients with accessible, inclusive, and Shariah-compliant digital banking services, as well as to all Malaysian individuals. In addition, the bank will continue to promote financial inclusion by offering access to financing opportunities to clients who have traditionally not been able to access funding previously. The bank will focus on extending financial services to both individuals and small businesses as well.

At the same time, AEON Bank will prioritise financial literacy and education initiatives in order to provide small companies and individuals with the possibility to gain the needed knowledge and tools for making informed financial decisions. In the future, the financial institution will also focus on further expanding and optimising the provision of its suite of solutions to its retail and wholesale members, including ecosystem partners as well. These include auto dealers, merchants, tenants, suppliers, and others.

At the same time, AEON Bank’s advocacy of digital technology is set to facilitate the overall introduction of new, secure, and efficient products for the AEON Group. The launch of new solutions is aimed at improving the value proposition for its diverse users and clients, as well as ecosystem partners and collaborators. In addition, AEON Bank aims to roll out its new App, beginning with an exclusive beta testing phase that will take place with AEON Group of employees.

This process will take into consideration the feedback and insights gained from the select group of testers in order to ensure that it meets the expectations of the bank’s customer base. The target to launch its phased rollout is set for the first half of 2024. .