MoneyLion’s Foong Chee Mun Becomes First Malaysian Fintech Founder on NYSEby Fintech News Malaysia October 13, 2021 0 comments
After the completion of MoneyLion’s public listing on the NYSE, the company’s co-founder Foong Chee Mun becomes the first Malaysia fintech founder to be on the New York Stock Exchange.
Foong who also serves as MoneyLion’s CTO announced plans to bolster the company’s Kuala Lumpur-based technology center of excellence.
The center currently employs over 250 technologists in the areas of data science and machine learning, product management, product engineering and cybersecurity and expects to double the size of its Malaysian office in the next 12 months.
Foong said that he has dedicated the operations in Malaysia to serve as the research and development tech hub where the core focus will be on artificial intelligence.
There are unconfirmed rumours that the company is looking to secure a Malaysian digital banking license.
Since its launch in 2013, MoneyLion has established itself as a full-service digital platform that delivers mobile banking, investment solutions and personalised solutions to the American market.
Earlier last month, MoneyLion had announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app.
“We founded MoneyLion with the goal of rewiring the consumer finance system. At MoneyLion, we bring consumer finance into the future by combining AI, machine-learning technology and behavioural science to create a full-service, digital financial platform for our users.
To date, we have engaged with over 8.5 million users, empowering them with a digital banking platform that helps them better manage their finances today and build wealth for tomorrow.”
said Foong Chee Mun, Co-founder of MoneyLion