Ambition’s Post

Grab-led GXBank Berhad announced that it will spend MYR 1.5 billion ($333 million) in Malaysia over the next five years, including the GX Untuk Semua project, strengthening Malaysia's digital banking position. The company claimed the program shows its dedication to Malaysia's nation-building and KL20's vision of being a top 20 global #startup hub. According to GX Untuk Semua, it fosters local IT talent, develops core skills, best industry practices, and #innovative solutions. The underserved will receive financial access and sustainable solutions through this program using cutting-edge technologies. The competencies and solutions will include AI-based risk and fraud management and personal and #MSME financing. GX Untuk Semua will also promote tech entrepreneurship and help develop digital finance solutions for tomorrow. ”While we are excited to introduce GX Untuk Semua, it is more than a national aspiration or a tech hub to us, “It also symbolises the many big and small financial dreams of every Malaysian we hope to help fulfil,” said Zaiton Binti Mohd Hassan, Chairperson of GXBank. He claimed they are leading the way in meeting Malaysians' financial requirements with a brilliant team of over 95% Malaysians. The surge shows Malaysians' choice for #digital banking and trust in it, the statement stated. Malaysia's first digital bank, GXBank, launched on September 1, 2023. To share your startup story write us on - contact@startuprise.org #GXBank #Malaysia #Banking #Financing #technologies

Exciting news from Bank Negara Malaysia! The Regulatory Sandbox is getting a major upgrade to boost financial innovation. Here's what you need to know: 1. Simplified Eligibility: BNM's Standard Sandbox now has easier admission criteria, opening doors for more innovative solutions to be tested in Malaysia. 2. Green Lane Introduced: Malaysian financial institutions with proven risk management capabilities can now test innovations faster and more flexibly. 3. Collaboration is Key: Recent Sandbox test cases in Malaysia involved 17 partnerships between financial institutions, fintech companies, and tech providers. This trend is set to continue! 4. Pre-screening Programme Launch: FAOM is introducing a new advisory support system with industry mentors to guide Malaysian financial service providers through the Sandbox process. 5. Culture Shift: BNM is encouraging a culture of agility and resilience, where creativity is nurtured and failures are viewed as learning opportunities. As Assistant Governor Suhaimi Ali stated in his opening remarks at the recent Sandbox Open Day in Kuala Lumpur, "Innovation does not happen in isolation. It thrives in an environment where creativity is encouraged, risks are managed, and failures are seen as learning opportunities." Did you know? Since its inception in 2016, BNM's Regulatory Sandbox has been crucial in shaping regulatory policies and fostering responsible innovation in Malaysia's financial sector. These changes reflect BNM's commitment to creating a conducive environment for innovation while effectively managing risks. It's an exciting time for fintech in Malaysia! What innovative financial solutions do you think will emerge from this enhanced Sandbox? Share your predictions in the comments! Visit our website to unlock insights from the inside out! Follow FinFormed now and stay ahead of the curve. Your informed financial future starts here! #FinTechInnovation #RegulatorySandbox

UOB and Silver Lake were recognised for Best Data Integration and Framework Implementation at the TAB Global Financial Technology Innovation Awards 2024. The winners seamlessly integrated acquired lending portfolios, wealth management, and retail deposits across Malaysia, Indonesia, and Thailand.    Employing a factory approach ensured consistency, efficiency, and faster time to market, reducing migration costs by 40% and driving significant business and customer growth.   The Financial Technology Innovation Awards Programme is among the most prestigious of its kind, evaluating the successful implementation of technology projects between financial institutions and their technology partners. We assess financial institutions participating at both international and country levels through a comprehensive evaluation process.   See the full list of winners here: https://bit.ly/3x0kSRt   Li San Chem, Ardian Sapoetro, Hii UK, Terence Chan, Bình Phạm, Kim Sheng Chan, Karen Low, Dwi Asyadid, Amber Hui Yen Khor, Xue Li Loh, Astari Prisila, Michelle Chan Si Min, Helen Chong Hui Ling, Marthana Saputra, Amanda Ng, Alexander Angelin, Simon Mwape, Kenneth Pickover, Bradley Pearl, Imke Koberg, Ann Fisher Lindsay, Bethany Riedy, Foo Boon Ping 胡文彬, Chris Kapfer, Neeti Aggarwal, CFA, David Gyori, TAB Global   #FinTechInnovationAwards #FinancialTechnology #TechInFinance #BankingInnovation #DigitalTransformation #TechAwards #AIinFinance #OpenBanking #AugmentedReality #AutomationTech #BankingAsAService #BigDataAnalytics #BlockchainTech #BranchDigitisation #CloudTechnology #ConsumerLending #CoreBanking #CorporateLending #PaymentsInnovation #CRMSolutions

🛰️ Understanding FinTech 103: FinTech Platforms & Initiatives in Malaysia 🛰️ Key insights: 🏎️ Drives by government agency: For example Malaysia Digital Economy Corporation (MDEC)‘s via MyDIGITAL Corporation boosts Fintech startups via funding, mentorship, networking, and market access programs fostering digital economy growth. ⛓️💥 FinTech Ecosystems in Malaysia: Some of the examples P10 Holding Sdn Bhd HariWang Malaysia Janjilah Cashku Akru StashAway MYTHEO by GAX MD (A Member of Silverlake Group) and the rest of 286 FinTech companies that make it to the recent lanscape. 🏦 Digital Banking for Financial Inclusion: For instances GXBank, AEON Bank offers convenient and innovative financial services via mobile and online platforms, significantly promoting financial inclusion for underserved populations. 𝓔𝓭𝓾𝓬𝓪𝓽𝓲𝓸𝓷 𝓟𝓸𝓭𝓬𝓪𝓼𝓽 𝓢𝓮𝓻𝓲𝓮𝓼 🎙️Host: JZ Wong 🎬Production: Troffee Education 🛋️Location: Financial Trading Centre (FTC), Asia Pacific University of Technology and Innovation (APU / APIIT) 📺Full Podcast: https://lnkd.in/g6qPsUm8 #LaluaAtWork #FinTechAmbassador #FinTechAdoption #FinancialTechnology #FinTech #FinTechEducation #FutureOfMoneyAndFinance #SustainableAndInclusiveFinance #SIFU #SifuInsider #ESGandFinTech #MyCelikNetwork #DigitalFinancialLiteracy #FinancialLiteracy #StrategicPartnership #UniversityIndustryCollaboration

The partnership between the Indonesian Fintech Lending Association (AFPI) and the Shenzhen Internet Finance Association (SIFA) aims to accelerate Indonesia’s fintech growth but presents several challenges. Check the full story 👉🏻 https://lnkd.in/g5GpM8zM Regulatory differences, data privacy concerns, and technological compatibility between the two countries could complicate the collaboration. Additionally, cultural and operational differences may hinder effective cooperation, and local competition could be impacted by the influx of foreign technology. Despite these risks, if managed well, the partnership could drive digital transformation in Indonesia’s financial services, fostering growth and innovation. Both AFPI and SIFA must address these hurdles to ensure a successful collaboration that benefits the local market and enhances financial inclusion. Visit www.theleap.id for daily insights from across key industries, where key players connect! #FintechCollaboration #AFPI #Shenzhen

Exciting times indeed for 🇲🇾 Malaysia's economy as we witness a significant shift in the way we conduct transactions! 💸 The rise of digital payments is not only revolutionizing our everyday financial interactions but is also playing a vital role in enhancing efficiency and convenience for consumers and businesses alike. 🏧 With the growing preference for cashless transactions, understanding the evolving landscape of digital payments has never been more critical. As we delve into the latest statistics and trends, it's fascinating to see how this digital transformation is reshaping our economy and what that means for the future. Don't miss out on the opportunity to stay informed and ahead of the curve! Explore the insights here: https://okt.to/QpqLm1 #FinastraPayments

Malaysia’s Remaining Digibanks Gear Up for October Launch After Setbacks In Malaysia, the digital banking landscape is on the cusp of significant change as two remaining contenders prepare for their October launch. The KAF consortium and the YTL-Sea group are poised to enter the market despite facing substantial setbacks and navigating stringent regulatory requirements imposed by Bank Negara Malaysia (BNM). Read More :- https://lnkd.in/guTun8AQ #MalaysiaDigitalBanking #KAFConsortium #YTLSea #DigitalBankingRevolution #FintechInnovation #BankNegaraMalaysia #DigitalTransformation #FutureOfBanking #FinancialInclusion #BankingOnTheFuture #MalaysiaFintech #TechInFinance #NewEraOfBanking #DigitalBankLaunch #BankingInnovation

OCBC Empowers SMEs to Seize Opportunities in the Johor-Singapore SEZ: OCBC has set up a dedicated team in Singapore and Malaysia to support SME customers to capture opportunities arising from the planned Johor-Singapore Special Economic Zone. #ocbc #johor

Rahmat Lim & Partners is honoured to have acted as Malaysian counsel for Yondr Group in respect of credit facilities exceeding US$900 million. This financing was provided by a consortium of lenders, namely DBS Bank, Deutsche Bank, HSBC, ING Bank, International Finance Corporation (a member of the World Bank Group), Natixis and Global Infrastructure Partners (a part of BlackRock). The syndicated facilities will support the construction and initial operation of a 98MW hyperscale data centre campus on a 72.5-acre site at Sedenak Tech Park, Johor, Malaysia. Once completed, this project will contribute to a larger 300MW campus, set to become one of the largest hyperscale data centre campuses in Southeast Asia. We are proud to contribute to this landmark transaction and are grateful for the trust Yondr has placed in us as it continues to expand its digital infrastructure across the Asia-Pacific region. The team at Rahmat Lim & Partners was led by Partner Kelvin Hsien Han Loh, Senior Associate Kimberley Yee, and Associate Bianca Lee. #RahmatLimandPartners #DataCentres https://lnkd.in/g9cQsJqF

𝐌𝐚𝐥𝐚𝐲𝐬𝐢𝐚 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞: 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐅𝐮𝐧𝐝𝐫𝐚𝐢𝐬𝐢𝐧𝐠 𝐈𝐬 𝐎𝐧 𝐓𝐡𝐞 𝐑𝐢𝐬𝐞 The Securities Commission Malaysia (SC) has made impressive strides in expanding the alternative fundraising space, introducing innovative capital market solutions and fostering strategic partnerships. This growth aligns with the objectives of Ekonomi MADANI, the government’s economic blueprint, to drive economic growth and sustainability. In line with this goal, the SC partnered with SME Corp to facilitate MSME access to capital markets. The SC has several key achievements in the alternative fundraising space: 🔹 Record-breaking 29% growth in fundraising despite economic uncertainties. 🔹 Shariah-compliant financing growing to RM524.8 million from RM140.8 million in 2022. 🔹 Institutional investors contributing nearly RM1.3 billion, or 57% of total funds raised in 2023. 🔹 Two new ECF platforms approved for their Shariah-compliant propositions, adding to the nine existing operators. Moreover, the SC has recognised the financing gap for mid-tier companies (MTCs), which are crucial to Malaysia's economy but often underserved by traditional public markets. To address this issue, the regulator has introduced new registrations for P2P platforms offering larger, long-term debt-based financing for MTCs. This move has already seen the registration of a new P2P-MTC operator. Source: Fintech News Malaysia #fINfUN #FinTech #CommunityBuilding #FinancialServices #AlternativeFundraising #MalaysiaFintech #EkonomiMADANI #MidTierCompanies #MalaysiaEconomy