UOB Malaysia was recognised as Best Foreign Retail Bank in Malaysia, while GXBank received the Best Digital Bank and Best EKYC & Customer Onboarding Technology Implementation awards. Other notable winners at the Malaysia Awards2024, held at the Mandarin Oriental in Kuala Lumpur on 9 September 2024, included OCBC for Best Credit Card for Instalment, Hong Leong Bank for Best Deposit Product and Best Financial Inclusion Initiative.

UOB Malaysia was named Best Foreign Retail Bank in recognition of its strategic growth and technological improvements. The acquisition of Citigroup’s consumer banking business expanded its customer base and market presence. Enhancements to its TMRW app led to a 63% increase in digitally active customers. Retail revenue grew 49% year-on-year, with a focus on personalised customer experiences and digital solutions. UOB also holds a 19% share in credit cards and an 8% share in mortgages among foreign banks.

GXBank won Best Digital Bank for its innovation and customer focus, emerging as a market leader through pioneering digital solutions. It is the first digital bank to launch under Bank Negara Malaysia's digital banking framework, achieving full operations within 16 months. With features like AI-powered onboarding and integration with the Grab ecosystem helped it attract over 750,000 customers by July 2024, based on the number of newly added users per month relative tor total national population. It outperformed peers in Vietnam, the Philippines and Indonesia

Additionally, GXBank won the Best eKYC and Customer Onboarding Technology Implementation award for its streamlined onboarding process. Using cloud-native infrastructure and real-time data analytics, it reduced onboarding time to between 4 and5 minutes.

The OCBC Cashflo Mastercard redefined credit cards in Malaysia with its 0% auto-instalment payment plan, winning Best Credit Card for Instalment . Cardholders enjoy interest-free instalments for up to six months on retail spending above MYR 500 (about $116). In 2023, the portfolio grew 11%, with a 16% rise in cards issued and a 17% increase in spending.

The Hong Leong Bank Pay&Save Account was awarded Best Deposit Product for its multi-currency flexibility and high-interest rewards, allowing seamless management of the Malaysian ringgit and 12 foreign currencies, instant conversions, zero fees, and up to 4.15% per annum interest. Account acquisitions grew 30% year-on-year. Hong Leong Bank was also recognised for the Best Financial Inclusion Initiative for expanding digital access in non-urban areas. In partnership with PayNet, it transformed Sekinchan, Selangor, into Malaysia’s first "Cashless Kampung", serving 24,000 residents and 800 small businesses.

The Asian Banker Malaysia Awards, which include the Excellence in Retail Finance and Finance Technology and Innovation awards, are among the most established benchmarking programmes in retail finance and technology, recognising exceptional innovation, leadership, management, and performance in Malaysia’s financial sector. 

For more information about the Malaysia Awards Programme, please visit.