🇲🇾 2024 Taiwan FinTech Delegation @ Malaysia 🇲🇾
Except the MOU with FAOM and the Taiwan Fintech Day, FinTechSpace also brought our delegation to visit 2 local regulators, 2 digital banks, and 1 accelerators in 3 days! Tight schedule but a deeper engagement with the local market!
Check out our press release for more details! 👉 https://reurl.cc/bVOrrv
❚ Securities Commission (#SC)
💎 Focused on an ecosystem approach through initiatives like annual forum SCxSC, establishing financial community alliance, aFINity, policy adaptations, and promoting investment and acceleration programs, creating a collaborative FinTech platform for Malaysia's capital markets.
💎 SCxSC 2024 Focus Areas: Web3.0, tokenized finance, AI, regulatory technology, and cybersecurity.
💎 Policy Adaptations: Pioneering equity crowdfunding and P2P financing (2015), digital investments (2017), and one of Asia's earliest regulators to regulate digital assets as securities (2019).
❚ Bank Negara Malaysia (#BNM)
💎 Key developments for Malaysian banking institutions in the next 5 years: Inclusive finance, financial transformation, sustainable finance.
💎 Supported by five strategic thrusts: Economic transformation funding, enhancing financial well-being of households and businesses, driving digital finance, promoting orderly green economic transition, and developing financial services through Islamic leadership.
💎 Four strategies to drive digital transformation: Strengthening infrastructure, supporting digital resilience, enhancing cybersecurity readiness, and fostering tech applications.
❚ Digital Bank: AEON Bank
💎 In 2024, became Malaysia's first Islamic digital bank, focusing on "Bank for all" through AEON's retail ecosystem, aiding underbanked groups with credit scoring and financial inclusion.
💎 Cloud-native with in-house developed systems, including a Data & AI center for AI applications in eKYC and fraud detection.
💎 Non-traditional credit assessments to serve customers traditional banks may not, including vulnerable groups and small enterprises.
❚ Digital Bank: GXBank
💎 Malaysia's first licensed digital bank, centered on "technological innovation" using Grab's ecosystem to enhance inclusive finance.
💎 Addressing financial service disparities through tech innovation, with AI-driven internal fraud detection and operational optimization.
❚ Startup Accelerator: MYStartup
💎 Malaysia's government-supported one-stop-shop startup platform providing entrepreneurial guidance, funding schemes, training, and consultancy to foster startup ecosystem development.
💎 Since 2003, supported 1,100 startups with funding, talent linkage, policy advisory, and commercialization resources, catering to diverse needs.
💎 One-stop platform for startup info, attracting external investors and facilitating cooperation, emphasizing knowledge sharing and entrepreneurial support.
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