Fintech Malaysia Report 2017

Fintech Malaysia Report 2017

by October 16, 2017
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Note: We’ve update this report, the 2018 edition of the Fintech Report can be found here

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 about the fintech landscape in Malaysia.

Malaysia’s population over 30 million strong that 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 88 players within the fintech space with payments being the dominant vertical and wallets  being a close second.

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 most notably was the announcement of the Malaysia’s fintech regulatory sandbox.

The Fintech Sandbox is open to all fintech companies including those without a presence in Malaysia, however the prequisite is that said company must have a genuinely innovative solution that fills a gap in the market. They are not required to work with a bank but the Bank Negara Malaysia encourages it. Upon being approved to be in the sandbox the fintech companies has 12 months testing period.

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. Most notably, as of March 2017, RM 12.6 Million has been raised to Equity Crowdfunding.

Overall the industry seems healthy and we foresee a lot of growth potential for Malaysia with significant interest from Chinese players like iPayLinks and AliPay along with homegrown players like Softspace, iPay88, and GHL steadily expanding to ASEAN Markets.

Download the Full Fintech Malaysia Report Here

 

Fintech Malaysia Map

 

Interested to find out more about other countries, check out our other reports here:

UAE Fintech Report

Philippines Fintech Report

Indonesia Fintech Report

Hong Kong Fintech Report

Cambodia Fintech Report

Vietnam Fintech Report and Infographic

 

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9 Comments so far

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  1. #1 12 Hottest Fintech Startups in Malaysia | Fintech Singapore 25 October, 2017, 08:57

    […] Fintech Report […]

  2. #2 Looking Back at 2017: Top 3 Tech Developments Every Malaysian Should Know 28 December, 2017, 14:57

    […] introduction of Malaysia’s fintech regulatory sandbox. Overall, this industry seems healthy and experts have anticipated a lot of growth potential, and consequently career potentials, for Malaysia […]

  3. #3 12 Fintech Startups in Malaysia That Should be on Your Watchlist 4 January, 2018, 07:32

    […] and let us know. If you want to find out more about the fintech landscape in Malaysia do check out Fintech Malaysia Report 2017 or if you’d like to check out the full list of fintech companies and startups in Malaysia do […]

  4. #4 Fintech Malaysia Report 2017 - Overview of The Malaysian Landscape 4 January, 2018, 12:36

    […] This article was first published on fintechnews.sg […]

  5. ThNara
    #5 ThNara 29 March, 2018, 13:26

    Really beneficial info for me. thanks.

  6. #6 Laporan FinTech di Malaysia Bagi 2017 - Majalah Labur 5 April, 2018, 18:54

    […] Sumber: FinTech News Singapore […]

  7. #7 [스타트업 글로벌 마케팅 #2] 말레이시아, 세계 최대 할랄 시장 허브 - 'Startup's Story Platform’ 18 April, 2018, 04:01

    […] 이미지: 말레이시아 핀테크 지도. 출처: Fintech Malaysia Report 2017 […]

  8. #8 [스타트업 글로벌 마케팅 #2] 말레이시아, 세계 최대 할랄 시장 허브 | NewsDaily 18 April, 2018, 04:11

    […] 이미지: 말레이시아 핀테크 지도. 출처: Fintech Malaysia Report 2017 […]

  9. #9 Top News: FinTech for 06-09-2018 | Accredited Investors 10 June, 2018, 03:19

    […] Keywords: [“fintech”,”Malaysia”,”being”] Source: http://fintechnews.sg/12808/malaysia/fintech-malaysia-report […]

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