Fintech Association of Malaysia(FAOM)
Fintech Association of Malaysia(FAOM)
Fintech Association of Malaysia, is a non-profit association founded in 2016. Our main objectives are to accelerate innovation in the financial sector, connect entrepreneurs and startups, and be the catalyst of national policies, legislation and regulations in FinTech.
The growth of fintech in Malaysia is our reason for being!
In Malaysia, fintech is a part of everyday life and has become an integral part of the country’s financial sector. With a high mobile phone penetration rate, expansive internet connectivity and strong support from the financial regulators – fintech has become part of everyday life for all citizens. The digital journey Malaysia is on, driven by the Government and industry has also included the adoption of blockchain technology across all industries including finance.
Home to digital banks, insuretechs, payment gateway operators, consumer credit digital platforms, digital asset exchanges, crowd funding/peer to peer programmes, and a strong ancillary services ecosystem, Malaysia has a truly a diverse and deep fintech landscape, driven by strong domestic demand.
To better support this extensive landscape, we are structured along the following industry verticals, from which key development initiatives are spearheaded:
 | The Malaysian fintech regulatory landscape is diverse and deep, led by policy and guidance from the Finance Ministry of Malaysia – https://www.mof.gov.my/portal/en/ and executed by the following statutory entities namely: Central Bank of Malaysia or Bank Negara Malaysia – https://www.bnm.gov.my/ Securities Commission Malaysia – https://www.sc.com.my/ Labuan Financial Services Authority – https://www.labuanfsa.gov.my |
 | The Malaysian fintech landscape is further guided and led by Malaysia Digital Economy Corporation (MDEC) is the Governmental agency leading the digital transformation of the economy generally. Malaysia Digital Economy Corporation (MDEC) – https://mdec.my |
| As part of our aim of ensuring a robust talent pipeline, FAOM acts as an umbrella entity for the MY Fintech youth association. Membership to this association is open to all and is available through: MY Fintech Youth Association – https://www.myfint.org/ |
Image source from Fintechnews
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