Malaysia fintech industry
  1. Home
  2. »
  3. Insight
  4. »
  5. Manufacturing

Malaysia's Economy to Benefit from The Fintech Industry

02 Dec 2016 | Malaysia

Asia-Pasific Fintech Industry Started to Rise

According to a new report from the Association of Chartered Certified Accountants (ACCA), Malaysia is poised to benefit from the global financial technology (fintech) market as Asia Pacific looks to challenge the US and Europe in the fintech boom.

Faye Chua, head of business insights at ACCA, said in a statement that the potential for fintech is good news for business and consumers alike as the industry continues to challenge traditional banking and finance models.

malaysia fintech

“Through reducing the need for financial advisors, opening the door to the launch of new banks, as well as cutting costs for international payment transfers, fintech is allowing the chance for start-ups to combine with the security of a burgeoning regulation technology (regtech) sector to provide intelligent, low-cost solutions which can transform firms’ traditional relationships with financial services,” she explains.

In the United States and Europe, regulatory issues and the potential disruption caused to London by the Brexit vote are both preventing new opportunities for fintech to flourish. Hence, growth has shifted to emerging markets such as Asia Pacific, with most bets looking at Malaysia for a fintech boom.

The United States were the first players given a head-start with new technologies provided by Silicon Vally’s darlings, however, progress has been slowed through legislatives and licensing hold-ups.

Meanwhile for the UK, the potential for national banks to lose their passporting rights following the vote to leave the European Union poses real uncertainty about the future of fintech in the country.

According to Fabian Boegerhausen, Manager of Soldiance Malaysia, an Asia-focused management consulting firm, Asia Pacific will benefit from the global FinTech boom as the region has a supportive regulatory framework and an extremely high digital capacity.


Latest Articles

  • Halal Cosmetics in Malaysia Overview

    An Overview of the Halal Cosmetics Market in Malaysia

    The halal cosmetics market in Malaysia has been experiencing significant growth. It is driven by a combination of increasing consumer awareness, government support, and the rising demand for halal-certified products among both Muslim and non-Muslim consumers.

  • digital marketing in sea automotive lubricant market

    How Digital Marketing is Transforming the Automotive Lubricants Market in Southeast Asia

    In recent years, digital marketing has emerged as a transformative force in the Southeast Asian (SEA) automotive lubricants market. The region's rapidly growing internet penetration and increasing smartphone usage have created fertile ground for innovative digital strategies. This evolution is reshaping how companies engage with customers and streamline their operations, offering numerous opportunities for growth and efficiency.

  • global environmentally

    Exploring New Business Models for a Sustainable Future

    Transitioning towards new sustainability business models can help companies drive positive change and contribute to a more sustainable future.

  • Automotive Lubricants Value Chain in Southeast Asia

    Revolutionizing the Automotive Lubricants Value Chain in Southeast Asia

    The Southeast Asian (SEA) automotive lubricants market operates within a well-defined value chain, spanning various stages crucial for the production, distribution, and consumption of lubricants. The structure encompasses three primary segments: upstream, midstream, and downstream.

Discuss your needs with our team

Talk to us to discuss your needs and pain points.

Contact Us