The Malaysian Central Bank is calling for more public involvement to spur and inspire the development of fintech solutions that have the potential to reinvent the way financial services are delivered to consumers in Malaysia.
The Financial Technology Enabler Group (FTEG) has announced that it is seeking ideas from the public on the improvements to the financial services sector by harnessing innovation and technology.
The call for participation for ideas is now open through the «Fintech Hacks» initiative which aims to identify pain points in the delivery and consumption of financial services, and solicit ideas using the application of technology to address the gaps.
Revolutionise Financial Services
The call to arms is part of the Bank Negara Malaysia’s (BNM) effort to involve the public in contributing their ideas and experience to push and energise the development of fintech solutions that have the potential to radically change the way financial services are delivered to consumers in Malaysia.
Established by Bank Negara Malaysia (BNM) in June 2016, the FTEG is a cross-functional committee responsible for formulating and enhancing regulatory policies to facilitate the adoption of technological innovations in the Malaysian financial services industry.
