MyDigital ID aims for 17 million registered accounts by 2026 to enhance online security and reduce fraud, as it partners with 15 major banks and fintech firms.
KUALA LUMPUR: MyDigital ID Sdn Bhd has set an ambitious target of 17 million registered accounts by the end of 2026. This represents a significant increase from the 7.3 million accounts recorded at the close of last year.
Deputy chief executive officer Azrin Aris said the company expects to reach 13 million accounts by the middle of this year. He revealed the platform has already registered nearly 10 million users as of today.
The figure marks a dramatic rise from 1.8 million accounts in the same period last year. Azrin attributed this growth to heightened public awareness of cybercrime and online security.
He explained that MyDigital ID simplifies access by allowing users to log into multiple applications with a single secure identity. The platform verifies user identities directly against the National Registration Department database in real time.
This provides a higher level of assurance for critical services like account opening and digital transactions. Azrin emphasised that centralising data with the NRD helps keep user information safe.
The push for wider adoption comes amid a sharp rise in e-financial fraud. National Cyber Security Agency chief executive Megat Zuhairy Megat Tajuddin disclosed 5,159 such cases were recorded in 2025.
This is a major increase from the 1,812 cases reported in 2024. Total financial losses soared to RM458 million last year, up from RM65 million the previous year.
Megat Zuhairy warned that fragmented digital identity systems present a major risk. He stated that fraudsters will continue to exploit weaknesses as long as identity verification remains unreliable.
In a move to bolster defences, MyDigital ID today signed memoranda of understanding with 15 leading banks and fintech companies. The collaborations aim to strengthen identity authentication across Malaysia’s financial ecosystem.
A company statement said its e-verification technology will be tested and integrated into the partners’ systems. This initiative is designed to provide financial institutions with a more robust tool for customer authentication.
 The Sun Malaysia
