Maybank won the award for the active role it plays in the local risk council, and for its strong support of the Visa SEA Risk Council as well as the Visa APCEMEA (Asia Pacific, Central Europe, Middle East and Africa) REC Council.
In addition, the banking institution was recognised for playing a leadership role in driving authentication and data security.
"Maybank is clearly leading the way for the advancement of risk management practices in the region," Visa Country Manager Malaysia, Stuart Tomlinson, said in a statement Thursday.
"Visa works hand-in-hand with the payments community in Malaysia to harden the Visa system against potential attacks.
"Even with global fraud rates near historic lows, we must adapt faster than those that might seek to do damage in the payment ecosystem," he added.
It was one of the 20 financial institutions to receive a Visa LEADER Award but was the only bank from Southeast Asia to win The Best Issuing Institution award.
BERNAMA
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