Their no such thing as safeness 🤦‍♀️ but more stability of their operations

First all of three of them are different as GX is bank 🤦‍♀️ while the other 2 are for investment 🤦‍♀️

2nd GX is licensed by BNM and PIDM protected up to 250k while the other 2 is licensed by SC with no PIDM

So you need compare apples to apples in the 1st place 🤦‍♀️

Not considered lucky 🤦‍♀️ they planned to launch 1st Dec to public all this while after BNM approval for go ahead

They won’t offer anymore 🤦‍♀️ as it costs them more money instead as ppl won’t put it because the offer is limited and the stability of their operations

Their developers are locally outsourced well known company 🤦‍♀️ who are not very tech savvy for banking operations so don’t blame poorly paid programmers from India 🤦‍♀️

It won’t happen 🤦‍♀️ because it is coded that the minimum of the account has to have rm10 🤦‍♀️

They tried to make it sound more for pleasing 🤦‍♀️ when we know that the entire app is broken to the core

Cannot compare that way 🤦‍♀️ if Versa and KDI goes bust you will get nothing 🤦‍♀️ while PIDM you know you can recover up to 250k

GX have planned everything so I expect less delay as compared to TNG 🤦‍♀️

Not all having cards with it 🤦‍♀️

Looks like that or the routing coding error somewhere went wrong when they doing PM

Not from Mainland India 🤦‍♀️ as the data it has to be host locally as BNM will not allowed any banking data to transmit overseas 🤦‍♀️ it is locally outsourced company who may or not hire Indian programmers locally but I doubt because they are also hosting govt projects on their mainframes 🤦‍♀️

Also with routing it is not as easy fix as what you think so no way bookie would have design the app 🤦‍♀️ as the programmer has to be experienced to know how to design on the routing codes 🤦‍♀️

This post has been edited by xander2k8: Dec 1 2023, 05:00 PM

Yes now at least 3 parties involved 🤦‍♀️ the bank, outsourced company and the network integrator

It is not as easy on where to fix but the fault lies in the outsourced company itself

Nothing to do with silly mistake 🤦‍♀️ it just shows you how inexperience in dealing with technical issues they are as it is rookie bank 🤦‍♀️

Banking is all about trust 🤦‍♀️ as they are selling trust to you on whether to bank with them

Not such thing 🤦‍♀️ and not possible to resolve within an hour as shown with recent the outages

Their acceptable SLA is to respond within 15 minutes and resolves within 4 hours 🤦‍♀️

How to punish 🤦‍♀️ when BNM only can fine them 🤦‍♀️ even revoking the license is very complicated

Not as easy what you think 🤦‍♀️

Because it is not a well known brand to the masses 🤦‍♀️ and not hype enough and not much impact to the entire population

You forget Unifi 🤦‍♀️ as well as if their backbone a lot of noises will be generated

What conspiracy theory 🤦‍♀️ when Rize does not know how to run a digital bank itself 🤦‍♀️

Check the version from app gallery because the previous before that might the stable version before the latest rollout

Got taken action recently 🤦‍♀️ minor action like preventing DBS making non-essential IT changes and any acquisitions of new business ventures for six months 🤦‍♀️ and applying multiplier of 1.8 times to its risk-weighted assets for operational risk 🤦‍♀️ so MAS got take action unlike BNM whose is the one doesn’t take any action and yet still controlling the transfer network itself 🤦‍♀️ which is problematic on their end 🤦‍♀️

Weird because the app gallery seems like the latest while play store might be delay due to need for Google approval whenever new updates is on board

If you got 2 phones and 2 accounts you should try which is the stabler version

Versa is not as slow to disburse as what you think 🤦‍♀️ only use Versa cash i if you want same day withdrawal before 10.30am

Diversification is the key whether investments to savings

A lot of people do that 🤦‍♀️ to squeeze out as much interests or profit to be earned and it is not like you pay early you get back in terms of rebates 🤦‍♀️

This post has been edited by xander2k8: Dec 2 2023, 07:52 PM

Versa is slow 🤦‍♀️ because you are using the wrong Versa 🤦‍♀️ if you use Versa Cash-I it is the same day withdrawal provided you withdraw before the cut off time at 10.30am

It is basically the money is held hostage 😂 by the bank itself floating in their clouds

For me I can triple dip now on earning daily interest 🤦‍♀️ so no drama for me when I just put it enough to earn the 5% while the rest can go elsewhere and earn

As usual a breakfix

A simple one line statement 🤦‍♀️ will suffice

From that statement you can tell it issued by operations side 🤦‍♀️ not from the banking side

They only make the money through lending in Shariah loans as they are a Islamic bank

Anything above OPR they will have to make sure that the lending is profitable otherwise they will fork the money to pay your profit just like 5% for 1st 5k which I am it sure it is the marketing funds allocated use to pay the 2% difference

The other 1% is easily from recouping from the credit facilities that they provide

They don’t use it for investment 🤦‍♀️ because it forbidden in Islamic bank 🤦‍♀️ as they are able to lend it in Shariah loans to get the profit distribution

BNM won’t pull their license in the 1st place 🤦‍♀️ because they never awarded to Rize as it is piggybacking on current existing retail banking license from Al Rajhi 🤦‍♀️

Digital banks would save on physical presence costs like operating branches and manpower as they will divert the costs to infrastructure instead as the cost savings from there itself

Infra I believe they spend enough 🤦‍♀️ only thing they did a mistake was the outsourcing of the app development, deployment and maintainance which screws up

BNM would have balls to interfere 🤦‍♀️ they only thing can do is to fine them only 🤦‍♀️ but bank SLA to customer performance is non existent in Malaysia

Of course they are incompetent 🤦‍♀️ that is why they outsource 🤦‍♀️ nothing to do with their own people of hiring

Nothing to do with the developers 🤦‍♀️ the programmers lies in the routing itself which is more the maintainance team 🤦‍♀️ as they being outsourced

CS you have to take a heart for them as they in Al Rajhi while the screw ups is happening outside 🤦‍♀️

I know the outsource company 🤦‍♀️ I won’t would wanna work such company 🤦‍♀️

Yes it is not an excuse but you have understand the purpose of Rize 🤦‍♀️ scrimp wherever it can and pass the savings to customer

Not as simple as what you think for minimum 4% 🤦‍♀️ as they need to get from other revenues to top up the 1%

Unlikely will be 4% with the mass withdrawal and DUM might drop and unable to get high yield unless Al Rajhi steps in and top up the cash fund