DIGITISING TRANSACTIONS

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:

85%

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

34%

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

63%

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

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

The Orbit

Learn more about our Fintech Innovation Hub, Orbit

Learn More