Fintech Malaysia Report 2017

Fintech Malaysia Report 2017

by October 11, 2017
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In the context of conversations surrounding fintech opportunities in South East Asia, Malaysia is often overlooked in lieu of Singapore. While it is true that the environment in Singapore is conducive for fintech to flourish, one should not dismiss Malaysia and its potential. The Fintech Malaysia report intends to provide a comprehensive overview key need-to-know information about the fintech landscape in Malaysia.

Malaysia’s population over 30 million strong and its population are largely digitally savvy, making them a prime captive audience for fintech innovations.

Increasingly we see more incumbents, foreign players and startups entering the fintech scene in Malaysia. In our report we’ve compiled 79 players within the fintech space with payments being the dominant with comparison sites being a close second.

 

The regulators of Malaysia has generally taken an open about cautious stance in regards to fintech. There are two key regulators (three if you include the Companies Commission of Malaysia) each with its own regulatory areas.

Malaysia’s regulators in these few years has taken a open but cautious approach towards regulating fintech. Since the appointment of Tan Sri Muhammad Ibrahim as the new Governor of the Central Bank of Malaysia in 2016 we’ve seen several key reforms and regulations being introduced. Securities Commission has also been seen as one of the more progressive regulators around the region being the first in the region introducing guidelines and frameworks around Equity Crowdfunding and P2P.

Overall the industry seems healthy and we foresee a lot of growth potential for Malaysia below is a snapshot of the Malaysia Fintech Map consisting of the list of fintech companies in Malaysia. Full details and more available in the Fintech Malaysia Report which can be downloaded via this link

 

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