Financial Technology


To create a vibrant Financial Technology (FinTech) ecosystem, MDEC has engaged with start-ups, investors and innovators from around the world.

By leveraging our partners’ expertise and our own knowledge in the field of Islamic Finance, we are positioning Malaysia as an important FinTech hub.

FinTech in Malaysia

When it comes to FinTech adoption, a study shows that Malaysia is still largely a cash-based society. Here are the statistics:


The percentage of adults that have a deposit account -> 25% – The percentage of adults that utilise financing services (credit cards, microfinancing, etc.)


The percentage of debit card owners that used their card in 2017


The number of adults that saved money in 2017 -> 38% – The number of adults that saved money in a financial institution

FinTech Initiatives

Malaysia is strengthening its position as a major player in the FinTech industry. MDEC has helped launch several initiatives in partnership with various industries.

The Orbit
Established in partnership with some of the major players in the FinTech industry, The Orbit is a co-working space that serves as a nexus point for the local and foreign FinTech players, allowing startups to interact with industry leaders to ease solution development and early market entry.

FinTech Academy
Education is one of the best ways to realise potential FinTech talent. MDEC has collaborated with Institutes of High Learning to deliver lectures and modules on FinTech. We have also partnered with local regulators including Bank Negara Malaysia and Securities Commission Malaysia to conduct regulatory bootcamps on a quarterly basis.

To stimulate Malaysia’s FinTech industry, MDEC has launched Accelerator initiatives to provide FinTech startups with opportunities for local and foreign investments. The initiative also offers startups with the opportunity to collaborate with the local industry.

Financial Innovation Lab
Established in partnership with the United Nations Capital Development Fund (UNCDF) and Bank Negara Malaysia, the Financial Innovation Lab aims to accelerate innovation in digital financial services with new or improved solutions that empower the daily lives of low and moderate-income people.

Fintech Booster
Fintech Booster is a capacity building program by MDEC, in collaboration with Bank Negara Malaysia (BNM) to assist Fintech companies, both local and foreign in developing their products and services via three strategically crafted modules; Legal & Compliance, Business Model, and Technology.


Find out more about Digital Financial Services for B40 and Micro SMEs.

+ Learn More

Fintech Booster

Learn more about Fintech Booster

+ Learn More

The Orbit

Learn more about our Fintech Innovation Hub, Orbit

+ Learn More


A strong Islamic Digital Economy provides unique and competitive advantage for Malaysia to lead the regional and global Islamic digital marketplace

+ Learn more