The fast growing fintech industry has led the formation of the Fintech Association of Malaysia (FAOM) that is set to be a representative voice serving the interests of various fintech players in Malaysia.
David Fong, the protem President of FAOM said “the goal of FAOM is to connect key enablers in the ecosystem and create a national platform that would be the leading hub for fintech innovations and investments in the region.”
The formation of the Fintech Association of Malaysia (FAOM) marked a momentous development in the world of Fintech in the country. Think of it as a way to keep all of the functions in check, and to ensure a healthy growth of Fintech in Malaysia.
To serve its function, the FAOM will take on four (4) roles in the growing Fintech scene in Malaysia;
Founding members of FAOM included companies like payment solution services GHL System Bhd and Soft Space, online insurer GetCover, financial comparison services Jirnexu and GoBear.
“FAOM is formed with the sole purpose of engaging the regulators and the industry so that fintech companies has a unified voice. I’m glad that my experience in Soft Space and Cradle Fund allows me to represent and contribute my ideas for the betterment of the ecosystem” quoted by Chris Leong, the CSO of Soft Space.