The Ministry of Finance in Malaysia has awarded a digital banking license to a consortium involving MoneyLion, AEON Financial Service, a Japan-based financial group, and AFS’s Malaysia-based non-bank financial service provider subsidiary, AEON Credit. MoneyLion is launching a Software-as-a-Service (SaaS) offering to develop the digital platform and provide technology, data analytics and embedded finance capabilities to the consortium.
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MoneyLion and AEON consortium obtain approval for Malaysian digital banking license
“I am incredibly excited about our partnership with AFS and AEON Credit,” stated MoneyLion Co-Founder and CEO Dee Choubey. “Malaysia represents a natural opportunity for MoneyLion to take our mission of rewiring the financial system to international consumers. The partnership will showcase MoneyLion’s technology, data and embedded finance expertise and is evidence that we are executing on our strategy to diversify our revenue streams through commercialization of our enterprise-ready capabilities.”
