What Is Fintech Malaysia

The association was successfully registered with the registrar of societies in october 2016.

What is fintech malaysia. Our 2018 fintech report shows that the number of fintech companies operating in malaysia has more than doubled compared to its previous year. Which areas of fintech are attracting investment in your jurisdiction and at what level series a series b etc. Fintech describes any company that. This should come as no surprise to most malaysia s increasingly digitised economy will naturally necessitate a more mature fintech ecosystem to fuel its growth.

Fintech news malaysia provides the latest insights on the fintech malaysia landscape covering topics like blockchain digital wallets payments cryptocurrency regtech insurtech and many more. Scan the headlines of any newspaper today and chances are you might stumble across the word fintech or financial technology. Fintech investment in malaysia is a mixed of series a and series b investments. Fintech is coming to represent technologies that are disrupting traditional financial services including mobile payments money transfers loans fundraising and asset management.

For instance jirnexu a malaysian founded fintech company has received a us 10 million in its second series b investment rm41 7 million bringing its. Fintech association of malaysia faom aspires to be the key enabler and a national platform to support malaysia to be the leading hub for fintech innovation and investment in the region. Global professional services company accenture found that investments in fintech across asia pacific alone skyrocketed in 2015 from about us 880 million in all of 2014 to nearly. The malaysian fintech scene has grown considerably since its early days.

In early 2019 there were over 50 crypto exchanges operating in malaysia in efforts to bring more order the market securities commission malaysia issued a framework for crypto exchanges in malaysia as a result there are now only 3 crypto exchanges operating in. Mdec is a name that is familiar to most in malaysia as the agency that acts as an enabler for malaysia s digital economy. This article is sponsored by securities commission malaysia under its investsmart initiative. The verticals within malaysia s fintech scene that seen the most casualties are within the crypto and financial aggregator space.

The malaysia s securities commission is the regulating body in the country for fintech firms. Among the highlights of this regulation include. The agency has also been a ctive on the fintech front from launching a congregational point that also act as a co working space called the orbit to co organising malaysia s first fintech week with bank negara malaysia. Services such as mobile payments and money transfer services are revolutionising the way we live.

The guidelines on recognised markets was amended for this market. To allow companies in the sme sector get into debt funding a regulatory framework for p2p lending was introduced.