KUALA LUMPUR (Aug 4): The Malaysia Digital Economy Corporation (MDEC) launched the Fintech Booster programme today to further support the growth and development of fintech companies in Malaysia.
The Fintech Booster programme, developed in collaboration with Bank Negara Malaysia (BNM), provides capacity building schemes for fintech companies based in Malaysia to develop meaningful innovative products and services by enhancing their understanding of legal, compliance and regulation requirements.
In a joint statement today, MDEC and BNM said the programme also seeks to build a centralised hub for consultants, advisors and solution providers to provide fintech companies the necessary tools and support to develop their products and services.
“By fostering collaboration across the public and private sectors and between established institutions and new entrants, the Fintech Booster programme is expected to spur a more dynamic fintech ecosystem that can facilitate continued innovation in the financial services sector, whilst contributing to a thriving digital economy in Malaysia,” they said.
According to MDEC and BNM, three verticals would be introduced in the programme covering legal and compliance, business model and technology.
“The first vertical on legal and compliance will initiate the launch of the programme by enabling fintech companies to participate in public sessions or clinics that will be provided by participating Booster partners.
“The topics range from company law to cybersecurity and data governance,” they said, adding that six legal and consulting firms have volunteered to provide their expertise in legal and compliance for this round of the vertical programme.