PETALING JAYA: After an unsuccessful bid for a digital banking licence, Pertama Digital Bhd
(PDB) is now in discussions with incumbent conventional banks to provide digital banking products via its neobank services channel.
A neobank is a combination of a technology company and a licenced bank providing digital banking services.
PDB is an Internet software company providing digital solutions to both the government agencies, banks and government-linked corporations.
“We are working with a number of banks, at least more than one, existing conventional licenced banks to roll out this service. We will announce the details as soon as they are finalised,” PDB chairman Tun Zaki Tun Azmi said at a press conference at PDB’s AGM.
He said the company had obtained a lot of data from which it was able to form “a very solid business plan” which it was now using to work with some of its partners to operate neobanking products, he said.
PDB strategy director Saifullah Akhtar added that the company would be developing the software, branding, market positioning and banking products, all of which will take a minimum of 12 months. The investment for a neobank is estimated to be RM100mil over a three-year period. — Bernama