Cinimex, Aswant Aim To Advance The Banking Sector Transformation
Held at EQ Kuala Lumpur, the full-day event brought together industry leaders, financial institutions and technology experts to explore next-generation digital solutions, including AI-powered loan engines, behavioural analytics, integration platforms, and advanced fintech architectures.
Cinimex, a global engineering company with 28 years of experience, is known for running more than 200 mission-critical integrations across Tier-1 banks, while Aswant Group brings deep knowledge of local market needs and a strong footprint in Malaysia and Indonesia.
Commenting on the new partnership, Cinimex Group Vice President for International Business Viacheslav Fokin emphasised the company’s strong commitment to ASEAN’s fintech growth:
“Cinimex is entering the ASEAN market with a clear long-term vision. We view this region as one of the world’s most dynamic fintech hubs, and we are confident that our deep technical expertise and proven engineering capabilities can bring real value to its next stage of digital evolution.”
According to Cinimex and Aswant, the partnership is designed to serve Malaysia’s fast-growing financial services industry (FSI), which expanded by 8.2% to RM38.7 trillion in financial volume in 2024. The collaboration has already produced early results, including the training of Aswant’s engineering team in Cinimex’s Universal Behaviour Analytics (UBA) system for anomaly detection and behavioural monitoring.
At the official signing ceremony, Aswant Group Managing Director Nor Asrul Mohd Noor and Cinimex Group Vice President for International Business Viacheslav Fokin highlighted the partnership’s potential to bring secure, efficient and scalable digital solutions to at least 30 of Malaysia’s fastest-growing banks and financial institutions.
“This collaboration combines Cinimex’s engineering depth and our understanding of regional customer needs,” Nor Asrul said. “It is the first practical step in accelerating digital innovation for banks in Malaysia and beyond.”
In an interview during the event, Nor Asrul informed BusinessToday that Aswant Group’s partnership with Cinimex aligns with growing demand for advanced, modular and affordable fintech tools in ASEAN.
“We chose Cinimex because they treat every customer’s needs individually. They do not force full packages. They fill the gaps that customers actually have,” he said.
He added that while large tech firms target top-tier banks, the middle market and SMEs — a key Aswant focus — remain underserved.
Nor Asrul also expressed confidence in Malaysia’s infrastructure readiness, citing major global investments by Google, Nvidia and other data-centric players.
“Malaysia has space, energy and water — key resources to grow data centre capacity. The fact that global firms choose Malaysia shows confidence in our digital readiness,” he said.
The Aswant Managing Director expects AI-assisted decision-making to dominate the 2026 fintech landscape.
“AI shortens processes from months to seconds. Developers will still be needed, but AI will handle the heavy lifting,” he said.
He also highlighted rising concerns over cloud and data sovereignty, revealing that Aswant and the Ministry of Defence are jointly establishing Malaysia’s first cybersecurity lab at the National Defence University.
“The world is moving towards post-quantum cryptography. We can’t wait five years to prepare. We must act now,” he said.
Nor Asrul stressed that the aim of the partnership is not to overhaul existing banking systems, but to enhance and optimise them.
“If a bank already has a strong core system, we don’t replace it. We strengthen the parts that are underutilised. AI fills the gaps and makes operations more efficient,” he said.
Cinimex and Aswant aim to jointly expand into Malaysia and Indonesia with long-term ambitions to serve emerging markets across Asia.
More details are available on the Business Today website via the link.
