Malaysia’s first shariah-compliant digital bank, AEON Bank is set to be officially launched on 26 May 2024. This comes at the heels of another announcement made earlier this week, where the bank revealed that it is partnering with Visa to roll out a range of payment solutions, including an AEON Bank x Visa debit card-i.

Aside from that, not much is known with regard to how AEON Bank plans to introduce its banking app to the public in approximately two weeks from today. Prior to this, it had said that it is planning a phased rollout, which began with a beta testing stage that involved AEON Group employees. Chief executive officer of AEON Bank, Raja Teh Maimunah Raja Abdul Aziz had also previously stated that it will start by offering “a minimal viable product”, which includes a savings account with all related transactions enabled for individual customers.

Aside from that, Raja Teh Maimunah further noted that additional products and services, as well as financing options will be gradually added, such as support for Apple Pay. Other features that have also been highlighted on AEON Bank’s website include Savings Pots, budgeting tools, and the AEON Points loyalty programme that allows customers to earn points on their transactions.

Meanwhile, banking products for the business segment is expected to be launched in 2025, seeking to serve entrepreneurs who are currently unable to access funding through traditional banks or borrowing methods. These could encompass businesses like TikTok or Instagram shops.

To note, AEON Bank is one of the five applicants who successfully obtained the digital banking licence from Bank Negara Malaysia (BNM) back in 2022. It received its greenlight to commence operations early this year.

• TAGS:
• AEON Bank
• AEON Bank (M) Bhd
• AEON Bank x Visa Debit Card-i
• Digital Banking
• Digital Banks
• Raja Teh Maimunah
• Raja Teh Maimunah Raja Abdul Aziz
• Visa