Digital bank operators seek to unlock the value of Malaysia’s underserved market

AZLAN Zulkifli felt relieved upon learning that his car loan application was finally approved with the help of a used-car dealer.

Before this, the 34-year-old e-hailing driver’s loan application had been rejected twice by the mainstream banks.

“The banks which approved my housing loan and credit cards previously, when I still had a job with a hotel, have rejected my application mainly because I do not have monthly salary income documents,” said Azlan, who now earns around RM3,500 (S$1,100) a month.