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The digital economy is expected to contribute 22.6% to the country’s gross domestic product (GDP), according to the Malaysia Digital Economy Blueprint (MyDIGITAL). In preparing Malaysia to become a technology-based economy, developments in the Malaysian fintech space have been supported by the government to strengthen its position as a major player in the industry. Fintech is rapidly becoming a central part of the financial services industry and the future economy. The Demand for Public Cloud Will Grow We have all witnessed the adverse impact and aftermath of the COVID-19 pandemic. The effects will remain, even after the Movement Control Order…

Malaysian digital insurance platform, Fatberry.com said that it has continued to experience strong growth and has recently added two senior executives to its management team to further drive growth. Ms. Zoee Kong, Head of Partnership, and Mr. Rev Ong, Head of Traction, have recently joined the growing Fatberry management team. Ms. Zoee Kong, prior to joining Fatberry, held senior executive positions at various international businesses and notably at global leading insurer AXA, where she was the Regional Head of Telecommunication Partnerships, APAC, and Head of Mobility and Lifestyle Partnerships for Singapore and Malaysia. Mr. Rev Ong had previously held positions…

MoneySave, a local peer to peer (P2P) crowdfunding platform, announced that they have achieved what they claim to be the fastest Malaysian P2P crowdfunding for Potboy, a homegrown online groceries platform. The record was achieved in 95 seconds, starting from the time the investment note was hosted online to a 100% subscription. “It only took 15 investors to fully subscribe the RM180,640.00 investment note offered by Potboy on MoneySave’s P2P crowdfunding platform on 3rd November 2020. This is a testament of the speed and power of crowdfunding on our platform. Our investors are very proud to crowdfunding a rising star…

Despite a challenging business environment associated with the global COVID-19 pandemic, there is still an appreciable appetite for Chinese technology-driven companies’intent on going public in the US. A total of 16 China-based companies held U.S. listings in the first half of 2020, one licensed affiliate of Tiger Brokers underwrites six of them. Tiger Brokers is the brokerage brand known to the market and belongs to a Nasdaq listed financial institution UP Fintech Holding Limited, act as one of the underwriters for their offerings. According to SEC and Bloomberg, Tiger Brokers once again led the rankings of underwriters for U.S. IPOs…

As COVID-19 accelerates digital transformation across the globe, the financial services industry is finding it increasingly crucial to rapidly roll out digital innovations. In achieving these goals, organisations require high-bandwidth, stable, reliable, and seamless wireless networks. One such technology that ticks the checkboxes is Wi-Fi 6, a next-generation technology that’s more than just faster speeds. Wi-FI 6 introduces cutting edge technologies such as OFDMA and MU-MIMO. This next-gen technology is able to deliver 4 times higher bandwidth and more connections while achieving lower latency and energy consumption than Wi-Fi 5. Technical specifications aside, what’s more important is its real-life application,…

Artificial Intelligence (AI) is no longer just a catch phrase, but is slowly becoming a new type of general computing technology. Inevitable it is one of the key drivers of technological innovation and thus social and economic revolution. Huawei never stops investing in AI research and development of such capacities to support ground-breaking cooperation among 5G, cloud, edge, and devices, reshaping various industries, such as financial services, transportation, power supply, manufacturing and more. Such technologies usually require collaboration to obtain fruitful results. For that, Huawei has been spending a whole lot of efforts in building an ecosystem which include academia,…

Cloud has taken over the enterprise with now 90% of organizations using cloud-based services, according to Deloitte’s Tech Trends 2020 report. Investment in the field is set to boom with the consulting firm expecting cloud investments to double as a percentage of IT budget over the next three years. Forrester, meanwhile, forecasts that revenue from public cloud infrastructure, platforms, and applications, will grow to a healthy CAGR of 21% between 2018 and 2022, reaching US$411 billion over the next two years. Huawei, the Chinese multinational tech firm is betting big on cloud computing, a field it believes will fuel future…

Ever since Hong Kong issued 8 virtual banking licenses in 2019, regulators from around the region are clamoring to each introduce their own framework. Malaysia is, of course, no exception. Bank Negara Malaysia Governor Nor Shamsiah announced last year that a virtual banking framework is in the works and applications for the new license is anticipated to be open by mid-2020. Despite the recent delay brought on by the COVID-19 pandemic, virtual banks still remain to be a very relevant topic to explore, especially since the pandemic has accelerated digital adoption at speeds that we’ve never seen before in our…

Huawei Cloud announced a campaign recently where the cloud service provider will be offering US$ 200 cash coupons that can be redeemed for any purchase amount. This coupon is applicable when purchasing pay per use, monthly, and even yearly packages. There are daily limits to the amount of tickets offered and it will be given on a first come first serve basis — if there are no more coupons, you can always try again the next day where they will make new ones available by 9.am Beijing time (GMT +8.00) every day. They said that the coupon can be used…

Huawei recently announced the launch of their webinar series targetted helping businesses to better cope with the COVID-19 pandemic. Happening every Thursday at 3.00pm Huawei’s webinars aim to tackle different issues and realities brought on by the health crisis. As an added bonus participants of the webinar will also be given a US$ 200 voucher which can be applied when you are purchasing Huawei Cloud products. Below are the webinars that the telecommunications giant has lined up over the next few weeks that you can join: Staying safe while working remotely with Sage 300 on HUAWEI CLOUD Time: May 14,…

The first reward & equity-based film crowdfunding is officially launched in Malaysia; breaking the conventional film production and distribution practices that go unquestioned for too long. This fine blend between finance and entertainment industry is opening up a new frontier of participation and investment opportunities. Malaysia is the first country in the ASEAN region to regulate equity crowdfunding to democratize finance and promote innovation. With a regulated framework for equity crowdfunding in place since 2015, the Securities Commission (SC) Malaysia has enabled early-stage financing for start-up entrepreneurs. While the SC is advocating the benefits of digital finance, the local film…

Alixco, a P2P financing platform regulated by the Securities Commission of Malaysia announced today that it is opening its platform to overseas investors, mainly aiming at South East Asia and Europe “We received overwhelming requests to invest in our P2P notes since we established the platform in 2017, mostly from Southeast Asia, the Middle East and Europe. With our latest upgrade of the platform’s technology and system, we can now offer investments into P2P notes to investors globally through  alixco.com conveniently. ” Says Andre Betker, Co-founder and Chief Investment Officer of Alixco P2P. Its expansion to South East Asia and Europe…

While women entrepreneurship is on the rise, it is not without its struggles, women-led startups are still not getting funded as much as their male counterparts. Cognizant of that fact, AlixCo P2P Financing announced the launch of a P2P financing program specifically targetted at helping women entrepreneurs in Malaysia. “Women entrepreneurs are more cautious and reserved when it comes to spending, investing and running business by nature. Often times, they possessed good borrower’s ethnic like pay on time and some even make advance repayment.” Angelld, COO, AlixCO P2P Financing, added. Angelld further shared that, so far the default rate for…

Southeast Asia’s Premier Smart City and Digital Economy Convention is back for the fourth time as part of the overarching events of the Selangor International Business Summit (SIBS). The theme for this year’s 4th Selangor Smart City & Digital Economy Convention is “Empowering The Youths with Tomorrow’s Innovations”. The 3-day convention will be held between 11th to 13th October 2019 at MITEC with four events running throughout the entire conference’s 3-days. These 4-in-1 events will consist of: What’s next for Smart City? – AI x E-Wallet x 5G Conference, One Belt One Road (OBOR) Anime & Gaming Summit, The Malaysia…

Max Money has launched its  MaxTerminal service which allows customers to remit money abroad using only their debit cards at selected retail outlets.This makes MaxMoney the first money service business provider in Malaysia to introduce a hybrid Online to Offline (O2O) model whereby personal and business transactions can be done over-the-counter or online. Max Money also launched its new portal, where customers can transfer money and exchange currencies online. The MaxTerminal service, which can be used 24/7, will see Max Money placing it’s proprietary terminals in convenience stores, sundry shops and mom-and-pop stores in business centres, industrial hubs and rural…