KUALA LUMPUR, February 12, 2026 – My Digital ID Sdn Bhd today exchanged Memoranda of Understanding (MoUs) with 15 leading banks and fintech companies in a collective effort to strengthen identity authentication across Malaysia’s financial institutions ecosystem. The exchange took place as part of the ‘MyDigital ID Memorandum of Understanding with Financial Institutions, E-Wallet and Fintech’ event, that brought together key industry players to enhance the security and reliability of financial services digitally. The partners involved are Maybank, CIMB Bank, Public Bank, RHB Bank, Hong Leong Bank, Ambank, Bank Islam, Boost Bank, KAF Digital Bank, RytBank, Touch ’n Go Digital, ShopeePay, Atome, Kale (Technology (PayLater)), and Finexus. Through these collaborations, MyDigital ID’s e-verification technology will be tested and implemented within the onboarding and transaction verification systems of participating institutions. The aim is to equip financial institutions with stronger tools to verify customer identities, giving them stronger defences against impersonation, account takeover, and other forms of digital fraud. MyDigital ID is the only platform in Malaysia that verifies identities directly against the National Registration Department database as the single source of truth in real time. This capability provides financial institutions with a higher level of assurance when authenticating customers for account opening, digital transactions, and other critical services. This initiative supports Bank Negara Malaysia’s strategic blueprint to advance digitalisation within the financial sector while reinforcing the government’s vision to transform Malaysia into a high-income, digitally empowered nation by 2030. As digital services expand, customers increasingly expect faster, more seamless financial experiences, while also demanding stronger protection of their personal data and security, amid a more complex digital risk landscape. Re-disseminated by The Asian Banker
