This move extends its operations beyond the Philippines and establishes its second market in Southeast Asia. The initiative supports its broader strategy to serve borrowers who are overlooked by traditional lenders.
The firm will assess applicants using a combination of artificial intelligence, alternative data sources, and conventional credit metrics. This approach targets individuals with limited credit histories. Bank Negara Malaysia previously reported that digital banks in Malaysia approved RM1 billion in financing by the end of 2025, with 34% allocated to underserved or unserved customers.
Skyro’s expansion follows its success in the Philippines, where it has amassed 7 million registered users and a credit portfolio exceeding $200 million. In Malaysia, however, it will adjust its model to fit local conditions rather than directly replicate its Philippine operations.
Nasim Aliev, co-founder and co-CEO of Skyro, highlighted the need to address shortcomings in traditional credit evaluations.
The timing of this launch coincides with Malaysia’s stricter oversight of consumer credit under the Consumer Credit Act 2025. The new law establishes the Consumer Credit Commission and enforces stricter lending regulations to enhance consumer protection and responsible borrowing.
Skyro’s Malaysian operations will begin with cash loans before expanding into additional consumer finance products. The company operates under AT Series Capital Sdn Bhd, a licensed moneylender regulated by the KPKT. Its moneylending license remains valid until July 26, 2028, while its advertising permit covers the same period, with an initial activation date of September 4, 2026.
For Malaysian borrowers, this entry could improve access to credit, particularly for those excluded by traditional financial institutions. The company’s success will hinge on balancing innovation with adherence to the new regulatory standards. Challenges remain in ensuring responsible lending practices while expanding financial inclusion.
