MyDigital ID has signed agreements with 15 banks and fintech companies to enhance digital identity verification across Malaysia’s financial sector.
The participating institutions include Maybank, CIMB Bank, Public Bank, RHB Bank, Hong Leong Bank, AmBank, Bank Islam, Boost Bank, KAF Digital Bank, RytBank, TNG Digital, ShopeePay, Atome, Kale Technology and Finexus.
Under the initiative, MyDigital ID’s e-verification solution will be tested and integrated into onboarding and transaction verification processes at these institutions. The move aims to improve identity assurance and reduce risks related to impersonation, account takeovers and other forms of digital fraud.
The platform verifies identities in real time against the National Registration Department (NRD) database, which serves as the official source of identity information. This is expected to provide stronger authentication for account openings, digital transactions and other essential financial services.
The rollout supports Bank Negara Malaysia’s digitalisation roadmap for the financial sector and aligns with the government’s broader ambition to position Malaysia as a high-income, digitally driven nation by 2030.
MyDigital ID is designed to streamline online identity verification while complementing, not replacing, the MyKad system.
