New platforms have entered Southeast Asia’s digital banking space in the past year, targeting the large contingent of unbanked or underbanked individuals in the region.

Among them is a digital banking service called Bank Saqu, launched by Indonesian conglomerate Astra International and Hong Kong-based fintech company WeLab.

Moreover, GXBank has officially debuted in Malaysia, becoming the first among the five applicants granted digital bank licenses in the country to commence operations.