CTOS Digital, MyDigital ID Strengthen EKYC Solutions with MOU

CTOS Digital Berhad (CTOS Digital), Malaysia’s leading credit reporting group, has signed a Memorandum of Understanding (MOU) with MyDigital ID, the government-backed national digital identity platform.

The MOU establishes a framework for exploring the use of national digital identity in strengthening electronic Know Your Customer (eKYC) processes. With this agreement, CTOS Digital becomes the first credit reporting agency (CRA) in Malaysia to formalise a collaboration with MyDigital ID.

Through this collaboration, CTOS Digital and its subsidiaries, including CTOS Data Systems (CDS), will assess how MyDigital ID can be incorporated into existing verification processes. The aim is to build a foundation for more secure, efficient, and less-friction eKYC solutions, supporting efforts to reduce fraud risk, improve compliance, and encourage wider digital adoption.

Kevin Loh, Interim GCEO of CTOS Digital Berhad, said: “This MOU with MyDigital ID marks an important step for CTOS Digital as we continue to strengthen our eKYC offerings. As the first CRA to collaborate with MyDigital ID, we are creating a foundation for future solutions that can enhance security and efficiency, while supporting Malaysia’s move towards a more trusted digital economy.”

Nik Hisham Nik Ibrahim, CEO of MyDigital ID Sdn Bhd, added: “MyDigital ID was created as the foundation of secure and trusted digital interactions in Malaysia. By partnering with CTOS Digital, one of the country’s most established players in financial services, we demonstrate how government and industry can work side by side to strengthen digital trust. This collaboration will deliver safer transactions, better protection for consumers, and stronger progress towards an inclusive digital economy.”

Ir. Dr. Megat Zuhairy Bin Megat Tajuddin, Chief Executive of the National Cyber Security Agency (NACSA), stated:
“No single agency or organisation can tackle cyber threats alone. This collaboration between CTOS Digital and MyDigital ID is meaningful and vital. As we advance towards becoming a digital nation, inclusivity and safety must remain at the centre. With trusted identities, stronger cyber defences, and industry partnerships, Malaysia can grow its digital economy with confidence. Let us continue to work hand-in-hand, government, industry, and regulators, to protect Malaysians, strengthen resilience, and ensure our digital economy grows on a foundation of trust and security.”

The collaboration is aligned with Malaysia’s National Digital Economy Blueprint, and reflects ongoing efforts to encourage secure and inclusive digital financial services through stronger identity verification practices.