Enabling FinTech In Malaysia

1. Crytocurrencies
2. Crowdfunding
3. Online banking

All this are new fintech terms that are largely use in the market now.
Questions that people are now facing are whether to choose...
1. traditional retail vs online banking
2. asset manager vs robo advisor
3. old fashion lender vs peer to peer lender

But is everyone ready for this?

Purpose of Fintech in Malaysia:
1. Faster
2. reduce cost - in term of operational cost and delivering cost - blockchain perhaps?
3. customer segment - from online merchant

BNM is now trying to enable digital ID and making the use of blockchain in the society.

BNM is also comes out the sandbox framework. Sandbox framework enable startup from fintech field to test their idea. Meaning to say that startups wouldn't fall too heavily if fail in this sandbox framework. Currently there are 2 Malaysia startup joins this sandbox which are gatecover and moneymatch. Many start up faces the challenges of not understanding the regulatory rules set by BNM which the results enable BNM to set up a regulatory boot camp. To knows more about this you can refer to this website

http://www.bnm.gov.my/index.php?ch=en_announcement&pg=en_announcement&ac=467
https://www.myfteg.com/

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