 |
| Source: Securities Commission Malaysia. Datuk Ranjit Ajit Singh, Securities Commission Malaysia Chairman, delivering a welcome speech at the World Capital Markets Symposium 2015. |
Securities Commission Malaysia (SC) has launched the Alliance of FinTech Community (aFINity@SC), an initiative to drive a network of financial technology (fintech) stakeholders to accelerate growth and innovation in this industry.
The announcement was made at the World Capital Markets Symposium (WCMS) 2015, with the theme Markets and Technology: Driving Future Growth through Innovation.
"By improving the customer service experience while broadening access and reducing costs, technology may potentially result in significantly more efficient and inclusive markets," noted Datuk Ranjit Ajit Singh, Chairman, SC, in his welcome remarks.
"The steady increase in the number of tools that aim to bring finance right to the pocket of the man on the street suggests that entrepreneurs have swiftly capitalised on this opportunity."
In its capacity as Chair of the Malaysian Venture Capital Development Council, the SC will coordinate with other authorities to pursue key deliverables which include, raising awareness, forming hubs to organise and nurture the fintech ecosystem; and providing policy and regulatory clarity to promote responsible financial innovation in this sector.
The SC will issue a call for participation to generate response and expressions of interest from relevant stakeholders, including innovators, entrepreneurs, established businesses, investors and other authorities to chart the fintech agenda together for Malaysia. aFINity@SC will also assist firms in navigating the regulatory environment by facilitating discussions between businesses and relevant authorities to ensure that potential regulatory and risk concerns are appropriately taken into consideration.
"Fintech, the widely-used moniker for financial technology, is not only a growing trend but one which is here to stay – given its significant potential to disrupt the business model of incumbents and appeal to a wider audience by promising user-friendly services that transcend demographic, geographical and infrastructure barriers," added Datuk Ranjit.
The SC will issue a call for participation to generate response and expressions of interest from relevant stakeholders, including innovators, entrepreneurs, established businesses, investors and other authorities to chart the fintech agenda together for Malaysia. aFINity@SC will also assist firms in navigating the regulatory environment by facilitating discussions between businesses and relevant authorities to ensure that potential regulatory and risk concerns are appropriately taken into consideration.
"Fintech, the widely-used moniker for financial technology, is not only a growing trend but one which is here to stay – given its significant potential to disrupt the business model of incumbents and appeal to a wider audience by promising user-friendly services that transcend demographic, geographical and infrastructure barriers," added Datuk Ranjit.
The biennial WCMS, held in Kuala Lumpur from 3 to 4 September, organised by the SC, in partnership with Maybank, Amundi Asset Management and Nomura Asset Management.
No comments:
Post a Comment