IDC Financial Insights Unveils 10 Fast Growing FinTech Companies in Malaysia

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IDC Financial Insights – The premier global market intelligence firm, revealed that Soft Space Sdn Bhd made it on to the list of 10 fast-growing FinTech in Malaysia, part of the broader FinTech 101 list for Asia/Pacific, at the FinTech Innovation Summit 2017 held at InterContinental Kuala Lumpur, Malaysia.

Soft Space made in on to the list with others Fintech companies in the region such as AppPay, KATSANA, iMoney, Mobiversa, Jirnexu, Tranglo, MOLPay, Neuroware and MyCash Online.

“The key theme for Malaysian Fintech moving forward is to grow beyond the country. 2018 will be a banner year for Asia/Pacific FinTech to regionalize – similar to the journeys of Alipay and Grab – so Malaysian companies will have to compete fervently against those from other markets. They all need to achieve scale and ubiquity as quickly as possible,” remarked Michael Araneta, Associate Vice President for IDC Financial Insights.

He also mentioned that in Malaysia, the disruption is visible mostly in payments, followed by lending, wealth management, marketplace, and crowdfunding. These FinTech players are moving fast in their alliances and partnerships with financial services institutions and continuously innovating to make their products and solutions better. IDC also saw successful FinTech in payments including remittances and money transfers expanding into e-commerce as a viable growth strategy. “We are seeing many capable and talented FinTech start-ups stepping up their game nowadays and we couldn’t be prouder of that. With hard work and determination these companies have the potential to be successful” he mentioned.

Soft Space believes that with the building blocks of unlimited computing power, open APIs and open sources that create an environment for innovation, new up and coming start-ups are spoiled with choices to boost their company.

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