Malaysia Digital Economy Corporation (MDEC) has launched the Fintech Booster programme to support the growth and development of fintech companies in Malaysia. Developed in collaboration with Bank Negara Malaysia, it provides capacity building programmes for fintech companies by enhancing their understanding of legal, compliance and regulation requirements.

As such, three verticals will be introduced in the programme: legal and compliance, business model, and technology.

The programme launch will be marked by the first vertical, i.e. legal and compliance, by enabling fintech companies to participate in public sessions or clinics that will be provided by participating Booster partners, covering topics ranging from company law, to cyber security and data governance. Six legal and consulting firms have volunteered to provide their expertise in legal and compliance for this round.

Announced on 4 August 2020, the new programme also seeks to build a centralised hub for consultants, advisors and solution providers to provide fintech companies the necessary tools and support to develop their products and services. It is also expected to foster collaboration across the public and private sector and between established institutions and new entrants, thus spurring on a more dynamic fintech ecosystem for the nation.

Photo / 123RF

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