FinTech Association of Malaysia (FAOM) is a leading non-profit association founded in 2016. Our primary goal is to drive innovation in the financial sector and support entrepreneurs and startups in their early stages. We strive to be a catalyst for improved national policies, legislation, and regulations in the field of FinTech.

Malaysia's digital economy has experienced significant growth, reaching 20% of the GDP in 2020. The country's digitalization efforts have led to the emergence of numerous local FinTech startups and attracted more investors, supported by the government and regulators. Our offerings include products and services across various domains: 1.

Payment Landscape: We facilitate mobile banking and e-money transactions, which saw a substantial increase in 2020, reaching MYR 460 billion. E-remittance services also witnessed significant growth, with RM26. 5 billion in outward remittances.

2. Digital Banking: We support innovative digital banking models through Bank Negara Malaysia's licensing framework, aiming to serve underserved market segments. The digital banking licenses will be granted by 1Q 2022.

3. Recognized Market Operator: We promote WealthTech, offering robo-advisors and digital investment tools for better asset management. We also facilitate equity crowdfunding and peer-to-peer financing for startups and young companies in Malaysia.

Furthermore, we collaborate with financial regulators like Bank Negara Malaysia and the Securities Commission Malaysia, as well as partners like PayNet, Silverlake, and Microsoft Azure. By joining FAOM, you become part of a dynamic FinTech ecosystem that drives innovation, fosters collaboration, and empowers the future of finance in Malaysia