FAOM and FIDE FORUM Target Fintech Innovation and Governance

The Fintech Association of Malaysia (FAOM) and FIDE FORUM have partnered to enhance fintech awareness among senior banking leaders and improve governance within the industry.

Together, FAOM and FIDE FORUM are set to engage in sharing information and research, concentrating on areas such as blockchain technology, digital payments, regulatory compliance, and cybersecurity.

Their studies will investigate the effects of emerging technologies on financial services, the impact of regulatory changes on fintech startups, and strategies to encourage sustainable growth within the sector.

Regular information-sharing sessions and forums are planned to facilitate open dialogue and continuous learning among members of both organisations.

A significant initiative arising from this partnership is the creation of a Special Interest Group (SIG) dedicated to digital innovation.

This group aims to strengthen the collaboration between traditional financial institutions and digital service providers, fostering a more integrated financial ecosystem.

Established in 2010, the FIDE (Financial Institutions Directors’ Education) FORUM is a network within the financial industry, known for its role in connecting senior board professionals in financial services.

The first of these initiatives is anticipated to launch by the end of the first quarter of 2024.

Wilson Beh, President of FAOM, said,

“In the intricate landscape of the fintech industry, collaboration is crucial for unlocking its full potential and propelling it to new heights.

 

The partnership between FIDE FORUM and Fintech Association of Malaysia is timely as it brings together diverse expertise and perspectives to enhance the maturity of fintech players.”

Tay Kay Luan, CEO of FIDE FORUM said,

“FIDE FORUM is dedicated to promoting corporate governance and ethical behavior in Malaysia’s financial institutions, including fintech players which are now playing an even more active role in the domestic landscape.

 

Indeed, the board of fintech companies play an integral role in steering the course of their entities specifically and that of the rapidly growing fintech industry generally. With a commitment to collaboration, our partnership with the Fintech Association of Malaysia underscores the significance of board leadership in navigating the complexities of the modern financial landscape.”