Raja Teh Maimunah made CEO at Aeon Digital Bank

SEASONED banker Raja Teh Maimunah Raja Abdul Aziz (picture) will steer Aeon Digital Bank, one of the five digital banks approved by the regulators in April.

“I’m happy to share that I’m starting a new position as CEO at ACS Digital Bhd (Aeon Digital Bank)!,” she said in a LinkedIn update today.

Last month, Raja Teh Maimunah resigned as the MD of wholesale banking at AMMB Holdings Bhd (AmBank Group), a position she held for close to six years.

She was previously CEO of AmInvestment Bank Bhd, Hong Leong Islamic Bank Bhd and Bank AlKhair Malaysia (previously Unicorn Investment Bank Bhd). She had also served as the board member of Retirement Fund (Inc) or KWAP, the nation’s largest public services pension fund.

In April, Bank Negara Malaysia announced the five successful applicants for the digital bank licences as approved by the Minister of Finance.

Three of them, licensed under the Financial Services Act 2013 (FSA), were a consortium of Boost Holdings Sdn Bhd and RHB Bank Bhd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; and a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd. The other two winners, licensed under the Islamic Financial Services Act 2013 (IFSA), were a consortium of Aeon Financial Service Co Ltd (AFS), Aeon Credit Service (M) Bhd and MoneyLion Inc, and a consortium led by KAF Investment Bank Sdn Bhd.

Three out of the five consortiums are majority-owned by Malaysians, namely Boost and RHB Bank, Sea and YTL Digital Capital and KAF Investment Bank, the central bank said in a statement.

Aeon Credit, listed on the main market at Bursa Malaysia, is a subsidiary of AFS. They have teamed up with financial technology (fintech) firm MoneyLion as the technology partner. — TMR / pic source graduan.com