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Asian Institute of Chartered Bankers (AICB) and The Association of Banks in Malaysia (ABM) Host 3rd Edition of Malaysian Banking Conference: Transformative Potential of GenAI in Shaping Future of Malaysian Banking

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KUALA LUMPUR, Malaysia, July 11, 2024 /PRNewswire/ — The Malaysian banking industry is at the forefront of a revolutionary transformation as it embraces the power of generative artificial intelligence (GenAI) in redefining banking operations, risk management, customer experiences and capacity building. According to Accenture’s Banking in AI 2024 report[1], banks are likely to benefit more from GenAI than any other industry. Effective adoption and scaling of GenAI could lead to a 30% increase in employee productivity and potentially boost revenue by up to 6% in three years. As Malaysian banks embrace GenAI’s advanced capabilities in data analysis, predictive modelling, natural language processing and more, banks can further unlock new avenues for innovation, efficiency, and customer satisfaction to stay competitive and drive unprecedented innovation across the financial sector.

The third edition of the Malaysian Banking Conference (MBC) themed “Banking in the Era of GenAI — Reshaping Banking, Innovating for the New Economy & Accelerating Sustainability”, organised by AICB and ABM at Shangri-La Hotel, Kuala Lumpur on 10–11 July 2024, sought to facilitate deeper conversations on the transformative potential of GenAI in shaping the future of banking.

The Conference convened visionaries, founders, thought leaders, industry and technology experts, and AI enthusiasts to explore the key trends, issues and opportunities in reshaping banking operations with GenAI, changing business models and people strategies, the importance of innovation in the new economy, and how fast-changing technologies can facilitate the acceleration of sustainability and transition finance while revolutionising banking practices.

YB Tuan Gobind Singh Deo, Minister of Digital, Malaysia, who delivered the special ministerial address, said, “Digital infrastructure is the backbone of the digital economy. As the AI boom increases global demand for computing power, especially in data-rich sectors like banking and financial services, the need for next-generation data centres grows. Malaysia is well-positioned to meet this need and emerge as ASEAN’s premier data centre hub, with its availability of power, connections to undersea cable networks, and strategic geographical location for investors.”

In his welcome address, AICB Chairman Tan Sri Azman Hashim said, “As the banking industry moves rapidly into a GenAI-driven future, continued investment in talent development is pivotal to building a highly qualified workforce equipped with future-fit skills to promote a culture of innovation and navigate the challenges and opportunities to remain competitive and stay ahead. Capacity building is critical in this rapidly changing environment, and AICB remains committed to building future-proof skills and fostering a culture of continuous learning and professionalism to ensure the workforce is prepared for the future of banking.”

[1]Accenture. (2024). Banking on AI. https://www.accenture.com/content/dam/accenture/final/industry/banking/document/Accenture-Banking-Top-10-Trends-2024.pdf

ABM Chairman, Dato’ Khairussaleh Ramli, said, “The dynamic discussions and informative presentations provided delegates with valuable insights on how financial institutions can embrace and scale GenAI responsibly, harnessing the power of GenAI to create value for institutions, enhance customer experience, improve productivity and elevate operational efficiency. GenAI should therefore form part of financial institutions’ core business strategy, and not be treated as a separate technology or digital initiative.”

The distinguished line-up of international and local speakers at the Conference included AI and technology experts, and, banking leaders from established banking and financial institutions, including Accenture Singapore, AEON Bank, AmBank, Asia School of Business, Bank Negara Malaysia, Boston Consulting Group, CIMB, Ecosystm, Equinix, EY, F5, GoGet, Google, Hong Leong Bank, HSBC, Huacomm Malaysia, International Finance Corporation, Kyndryl, LedgerBrains AI Consortium, Maybank, Pantas Software, PwC, RHB Banking Group, SAP, Securities Commission Malaysia, Silverlake Axis, SME Bank, Standard Chartered Saadiq Malaysia, TalentCorp Malaysia, Twimbit, and Wizpresso, among others. The dynamic discussions and informative presentations provided delegates with valuable insights on harnessing the power of GenAI to drive innovation and enhance customer experience, and how financial institutions can embrace and scale GenAI responsibly, taking it from experimentation towards delivering meaningful digital transformation of banking processes and supporting the acceleration towards a just transition.

On the sidelines of MBC 2024, a masterclass and a media roundtable were held to facilitate deeper conversations on the trends, risks and opportunities in harnessing the power of GenAI in banking and the importance of future-proofing Malaysian banking practitioners in this digital era.

MBC 2024 drew over 600 delegates from local and international financial institutions.

To foster a highly adaptable workforce that excels and remains relevant in a constantly evolving landscape, AICB is also leading the development of the Future Skills Framework (FSF) for the Malaysian financial sector with the Islamic Banking and Finance Institute Malaysia (IBFIM) and The Malaysian Insurance Institute (MII), which will be launched on 22 July 2024. The FSF, an industry-led framework, is an integral component of Bank Negara Malaysia’s Financial Sector Blueprint 2022-2026. Premised on the imperative to propel skills mastery and constant learning across the financial sector talent ecosystem, the FSF signifies a concerted initiative to foster a more future-ready workforce, raise the bar on professional excellence and advance the growth of the financial industry in Malaysia.

Find out more about the upcoming events organised by AICB at www.aicb.org.my/events/upcoming. 

About the Asian Institute of Chartered Bankers

The Asian Institute of Chartered Bankers (AICB) is the sole professional body for Malaysia’s banking industry governed by a council of representatives from Bank Negara Malaysia (BNM), The Association of Banks in Malaysia (ABM), and the Malaysian Investment Banking Association (MIBA). With over 35,000 members, AICB aims to strengthen the banking workforce with the highest standards of professional conduct, knowledge, and competence through our banking qualifications.

AICB is the only institute in Southeast Asia that is authorised by the Chartered Banker Institute, UK, to award the Chartered Banker status. The Institute continues to support the growth of its members through innovative learning and by advocating professionalism, advancing thought leadership, and facilitating networking opportunities.

For more information on AICB, please visit www.aicb.org.my

About The Association of Banks in Malaysia

The Association of Banks in Malaysia (ABM) has 25 members comprising the commercial banks that currently operate in Malaysia. The main objective of ABM is to promote the establishment of a sound banking system in Malaysia in cooperation and consultation with the regulators. Guided by ABM’s mission statement, “Forging public understanding for a responsible and responsive banking industry”, ABM takes on the role of an important intermediary between banking customers and its member banks. ABM aims to facilitate and create a conducive yet competitive banking environment while promoting orderliness and ethical banking practices.

For more information, visit www.abm.org.my.

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SOURCE The Asian Institute of Chartered Bankers (AICB)

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How President Xi Jinping Has Charted the Course for Boosting China’s Strength in Finance: Nurturing a Financial Culture with Chinese Characteristics

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BEIJING, Nov. 3, 2026 /PRNewswire/ — A news report from en.qstheory.cn:

Boosting strength in finance requires us to enhance not only China’s hard power but also its soft power. With an outstanding financial culture, we can shape the values that orient the financial sector, create internal incentives and constraints, and provide the moral foundations for the law and supervision. In this regard, President Xi Jinping has stressed the need to operate in an honest and trustworthy way and never cross the line; to prioritize the greater good in the pursuit of interests, rather than placing self-interest above all else; to adopt a steady and prudent approach and resist the urge to recklessly seek quick gains; to uphold fundamental principles while breaking new ground and ensure finance does not become decoupled from the real economy; and to uphold the law, ensure regulatory compliance, and refrain from misconduct. These requirements not only draw on the essence of traditional Chinese culture, but also articulate the philosophy underpinning modern finance.

Honesty is the lifeblood of finance. Since its advent, finance has been intrinsically tied to trust. China’s commercial traditions have long placed a premium on honoring one’s commitments. The requirement to operate in an honest and trustworthy way and never cross the line aims to turn the pursuit of honesty into a binding code of conduct that spans all dimensions of financial activity and ensure that financial institutions and practitioners consciously honor their commitments. In this way, the spirit of the contract, market rules, and professional ethics will become conscious norms throughout the financial sector, leaving no room for fraud or breaches of trust.

Properly managing the relationship between principle and profit is the linchpin for balancing the dual nature of finance. While capital is inherently profit-seeking, it must adhere to the baseline requirement of upholding principle. Finance is both functional and profit-driven in nature. The unique wisdom of Chinese culture lies in valuing both principle and profit, while placing greater emphasis on the former. At its core, the requirement to prioritize the greater good in the pursuit of interests aims to ensure that the pursuit of profit gives way to the functional role of finance. Financial activities must remain anchored in the overriding goals of enhancing the efficiency of the real economy and improving public wellbeing. The financial sector must fulfill its social responsibilities and develop symbiotically with the economy, society, and the environment.

Prudence can be thought of as an “immune system” preventing the spread of risk. As finance carries risk in its very DNA and has the effect of amplifying leverage, the reckless pursuit of quick gains must be avoided at all costs in the financial sector. So-called innovation and growth pursued without sufficient prudence will ultimately backfire. A steady and prudent approach must therefore become an innate part of the self-discipline and conscious practice guiding the sector. Institutions must cultivate the correct perspectives on operations, performance, and risk management. They need to strike the right balance between stability and progress, between short-term and long-term development, and between development and security, all aimed at steady and sustainable high-quality development.

*This is an excerpt from an article titled “How President Xi Jinping Has Charted the Course for Boosting China’s Strength in Finance” by Qiushi Editorial Department published in Qiushi Journal, English edition, No. 2, 2026. Full text: https://en.qstheory.cn/2026-05/25/c_1184007.htm 

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SOURCE en.qstheory.cn

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Mashreq launches generative AI capabilities to strengthen fraud risk management with Clari5

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BENGALURU, India, Nov. 3, 2026 /PRNewswire/ — Mashreq, a leading financial institution in the MENA region, has launched new generative AI capabilities within its fraud platform in collaboration with Clari5 – A Perfios Company. The move brings tangible benefits across three priority areas: enhancing fraud detection effectiveness, improving analyst productivity, and supporting stronger investigative decision-making.

Announced at Mashreq’s Innovation Hub in Dubai in the presence of senior leadership from both organizations, the launch demonstrates how generative AI can be applied within a banking environment to complement the expertise and judgement of fraud professionals.

Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, said: “In an increasingly digital financial landscape, fraud is becoming more sophisticated, and the way banks respond must adapt accordingly. At Mashreq, we are committed to implementing AI responsibly in areas where it can have a meaningful impact, strengthening the resilience of our operations and the trust our customers place in us.”

Nitin Chugh, MD and Group CEO, Perfios, said: “Our collaboration with Mashreq demonstrates how generative AI can help banks tackle the growing complexity of financial crime by bringing together disparate information, accelerating investigations and enabling better-informed decisions. The goal is to augment investigators’ expertise, not automate judgement, while ensuring AI operates with the rigour and accountability that financial crime management demands.”

Rivi Varghese, Co-Founder and CEO, Clari5, said: “Banks don’t need AI that acts on its own. They need AI they can govern by their own rules. Clari5 has shown how AI can operate on-premises inside a bank’s own environment, grounded in the bank’s context, and remain auditable, explainable and under human control. We are proud to have gone live with Mashreq and set an example of how enterprise-grade AI should operate in managing financial crime.”

Rania Nerhal, Group Chief Client Experience & Conduct Officer at Mashreq, said: “The value of generative AI lies in its ability to help us interpret relevant information and respond to emerging risks with greater speed, consistency, efficiency, and precision. This launch is part of our continued investment in deploying the latest technology to evolve our fraud risk management framework.”

Developed through the ongoing collaboration between Mashreq and Clari5, the new capabilities further strengthen the bank’s fraud detection platform. They are designed to deliver two key benefits:

Seamless customer experience: Supporting faster, more consistent, and more effective fraud detection.Greater consumer trust: Reinforcing confidence in the bank’s ability to protect customers and respond to emerging risks.

About Mashreq:

Mashreq is a leading financial institution headquartered in Dubai, serving individuals, entrepreneurs, corporates, and institutions across the UAE and key regional and international markets. With a heritage spanning nearly six decades, Mashreq combines digital-first innovation with deep relationship banking across retail banking, corporate and investment banking, global markets, transaction banking, Islamic banking, wealth management, and treasury. The bank delivers secure, advanced, and customer-centric experiences while actively driving the transition toward a sustainable economy. Through a robust Environmental, Social, and Governance (ESG) framework, Mashreq is committed to facilitating sustainable finance, fostering responsible operations, and delivering positive societal impact.

With an extensive international footprint spanning the UAE, Oman, Qatar, Kuwait, Bahrain, Egypt, Pakistan, Türkiye, India, the UK, the US, and Hong Kong, Mashreq seamlessly connects regional businesses with global markets while maintaining deep local expertise.

Guided by its core purpose to help customers Rise Every Day, Mashreq partners with clients to navigate change, unlock sustainable growth opportunities, and achieve long-term success.

For more information, please visit: www.mashreq.com

About Clari5:

Clari5 – A Perfios Company, is the leading provider of real-time financial crime management platforms for banks, insurance companies, telcos and other financial institutions worldwide. Powered by AI-native capabilities, Clari5 helps detect, prevent, report and investigate financial crime in real time. Trusted by 80+ banks across 30+ countries for over two decades, Clari5 unifies fraud and AML on a single platform. It processes 12+ billion transactions every month and protects more than 1 billion accounts. Clari5 is part of the Perfios group, India’s largest B2B SaaS TechFin, serving over 1,000 financial institutions across 18 countries. To know more, visit www.clari5.com.

 

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RedotPay Deepens Hong Kong Investment as OASES Strategic Enterprise Partner

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RedotPay is investing in global talent in Hong Kong to scale the city’s stablecoin payments industry and entrepreneurial ecosystem

HONG KONG, Nov. 3, 2026 /PRNewswire/ — RedotPay, a global stablecoin-based payments fintech company, has expanded its hiring and infrastructure presence in Hong Kong. The company is part of the Office for Attracting Strategic Enterprises (OASES) program and has received OASES support since being included in its strategic enterprise cohort in April 2026.

RedotPay, which serves over nine million users across more than 100 countries, has worked alongside OASES to strengthen Hong Kong’s stablecoin payments industry and entrepreneurial landscape, directing significant investment toward local infrastructure and talent.

RedotPay has added more than 125 employees in Hong Kong since 2025, recently expanding its office in Central and establishing a research and development (R&D) center in Hong Kong-Shenzhen Innovation and Technology Park with the support of OASES.

RedotPay is one of the OASES strategic enterprises exhibiting at Hong Kong FinTech Week, where it is engaging with public and private sector stakeholders and showcasing its future investment plans in Hong Kong.

Established by the Hong Kong SAR Government in 2022, OASES supports the growth of high-potential companies like RedotPay to cement the city’s position as a leader in financial technology and digital assets. To date, OASES has attracted 142 strategic enterprises, which are expected to invest HK$84 billion and create around 27,000 jobs in the coming years.

“Hong Kong has become one of the world’s foremost centers of financial innovation, and we are committed to working with OASES to strengthen its position as a leading hub for the stablecoin payments industry,” said Michael Gao, co-founder and CEO of RedotPay. “Going forward, we plan to invest further in talent and infrastructure here in Hong Kong to better serve our users around the world.”

“We are pleased that RedotPay has joined the OASES cohort, with Hong Kong serving as its headquarters and R&D center. We look forward to continuing our support for RedotPay’s development and to working with partners across the ecosystem,” said Bryan Peng, Executive Director of OASES. “Its investment in local R&D and talent strengthens the digital asset ecosystem here and shows how Hong Kong can serve as a launchpad for companies with global ambitions. We look forward to continuing to support the company’s growth.”

About RedotPay

RedotPay is a global stablecoin-based payment fintech that integrates blockchain solutions with traditional banking and finance infrastructures. Its intuitive platform empowers millions around the world to spend and send digital assets, ensuring faster, more accessible, and inclusive financial services. RedotPay advances financial inclusion for the unbanked and supports crypto enthusiasts, driving global adoption of secure and flexible stablecoin-powered financial solutions to bring crypto to real life. For more information, visit www.redotpay.com.

About OASES

The Office for Attracting Strategic Enterprises (OASES) is a dedicated HKSAR Government agency—operating directly under the Financial Secretary—established to attract high-potential and representative strategic enterprises from around the globe to set up or expand operations in Hong Kong.

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