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Another applicant of the digital banking license, Big Pay, which partnered with the Malaysian Industrial Development Finance Berhad (MIDF) and Ikhlas Capital, a Singapore-based private equity fund manager, launched digital loans last month as part of its wider suite of financial offerings.
The service makes BigPay the first product to have a full digital personal lending product as part of its offering in Malaysia. BigPay Later Personal Loans is currently available to selected users .