This article showcases our top picks for the best Malaysia based Fintech (Financial Technology) companies. These startups and companies are taking a variety of approaches to innovating the Fintech (Financial Technology) industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Malaysia Fintech (Financial Technology) Companies
CapBay is a Multi-Bank Supply Chain Finance and Peer-to-Peer Financing (P2P) platform based In Malaysia. The focus is to help responsible corporations optimize their working capital and provide businesses real-time technology to collaborate with a wider network of financial institutions to access financing opportunities, with a click of a button.
They believe in a transparent and efficient financing environment that minimizes risk and optimizes working capital for the entire value chain in every industry.. .
PolicyStreet is an online platform that makes buying insurance simple, easy, and affordable with un-bias choices and transparency. PolicyStreet allows customers to buy insurance policies directly from its platform.
It mainly targets millennials with its products, and the goal is to make the insurance industry fun and relevant for its young users.. .
Jirnexu delivers end-to-end digital acquisition tools and solutions for FSIs and service providers. Jirnexu enables banks, insurance companies, and service providers to think mobile-first and innovate the way they generate leads online, turn those leads into customers, handle their fulfillment, and keep them loyal.
Consumers are empowered by Jirnexu’s financial comparison tools to save money and make better decisions. Jirnexu was founded in 2012 and is based in Kuala Lumpur..
MyMy is a fintech focused on digital payments and financial inclusion. To ensure that these funds can also be spent instantly, they have combined the product with a card that can be used globally at any merchant or ATM on the MasterCard/VISA network.
Their wide coverage of emerging markets provides the opportunity for families to escape the poverty cycle through digital banking access, providing Financial Inclusion.. .
iMoney is SE Asia’s biggest and fastest-growing financial comparison portal with headquarters in Kuala Lumpur and operations in Singapore, Indonesia, Philippines, Hong Kong and Thailand. It compares credit cards, loans, broadband and insurance by providing consumers with the convenience of online comparison and the benefit of telephone-based advice.
iMoney uses technology to offer consumers a free analysis of their product needs followed by a comprehensive review of products from its product provider panel. This enables consumers to avoid visiting multiple suppliers to compare products as well as applying directly from their desktop or mobile using our secure application process..
SINEGY Technologies (M) Sdn. Bhd.
SINEGY is a fintech company which develop platforms, tools and services for cryptocurrencies. Founded in June 2017, SINEGY has since launched their first trading solution and service called .alt+ (pronounced as alternate plus) which is dubbed as the concierge service for cryptocurrency traders.
Combining technology and top notch service, .alt+ is a platform for high net worth individuals to expand their portfolio into digital assets. SINEGY is also reportedly launching more platforms and services related to cryptocurrency by Q4 2017..
Pentaip is a FinTech startup from Malaysia that focuses on leveraging big data and the latest technology to build robo-advisors. Pentaip was founded in March 2019 and started as a global financial data provider.
Till now the team has slowly grown to a total of 25, evolving from a global financial data provider into offering Robo-Advisor Marketplace as an investment tool and service. The team is led by two key executives, Founder Mr.
Yeong Ning who manages the overall operation of the startup including building up the team value as well as executing backend operations for Robo-advisor technology. He was previously in a founding team of Sinergy Exchange, which is 1 out of 3 Crypto Exchange that is approved by the Securities Commission of Malaysia.
Alongside Dr. Koa, our Chief Technology Officer who holds a PhD in Blockchain he handles all frameworks and architecture of Pentaip’s web and app development..
MoneyMatch is a FinTech startup enabling cross-border international payments and remittances which are cheaper, faster and more convenient than traditional banks. Starting off in Malaysia, MoneyMatch has since expanded out to Australia as well with plans for further expansion in Southeast Asia.
Since just the past 1.5 years, MoneyMatch has already transacted over MYR 260 million sending money out from Malaysia to over 70 countries worldwide helping under-served SMEs (small and medium enterprises) save hundreds of thousands in margins. .
Fundaztic is fully owned and managed by Peoplender Sdn Bhd which is a Recognised Market Operator licensed by the Securities Commission of Malaysia to operate a peer-to-peer financing platform. Strongly believing that it is through complementing and filling gaps of needs in the ecosystem that will create sustainable and meaningful growth, Fundaztic aims to leverage on technology to enhance access to both financing and investment for businesses and individuals with low entry barriers.
Their Issuers can have access to easy financing through a fast and simple online application process, while their Investors provide the funds to multiple Investment Notes in exchange for attractive returns of investments. Fundaztic intends to transform the financing ecosystem into a transparent, simple, and fair online marketplace, helping people and businesses achieve their financial goals every day..
IIMMPACT is a fintech company that provides aggregation services for information and payment covering mobile recharge, bill payments, government services, insurance, transportation, and many more. The company was founded back in December 2017, and since then, it has changed how people access to top-up their mobile phones, paying bills, purchase air tickets, bus tickets, and many more services in one single e-wallet app.
The company has successfully created a unified app that aggregates all the service providers.. .
ATX owns and operates a full fledge proprietary system to process all transactions electronically. The principal activity is to build and manage electronic payment collection platforms for our partners.
We develop and license transaction automation system softwares and supporting technologies focusing primarily on the prepaid telecommunication & financial services industries and commercialising the services through our retailers.. .
imortgage2u provides the one stop mortgage solution platform in Malaysia that can increase the chances of getting a home loan. We are targeting on financial institutions, lenders, and property industry related companies.
We provide a hassle-free platform for the property industry related companies to pre-screen their client’s loan eligibility before applying loan in order to get the right solutions based on their client’s need. Prequalification enhances the lead-generation process by allowing them to match clients with the products that meet their credit profile – increasing the approval rates and also the sales conversion rates.
Furthermore, our business partner able to monitor the loan progress update through our system until the loan disbursement from bank in just six simple steps.. .
SkolaFund is a web-based platform that helps undergraduates in Malaysia raise funds for their university education through crowdfunded donations, bursaries, scholarships, and loans. Students are able to organize their own 30-day campaigns on the platform with a target funding amount.
Funds contributed to unsuccessful campaigns will be returned directly to the sponsors. Skolafund promotes students’ campaigns via its Facebook and Twitter portals.
It also offers Create Scholarship, a service where individual philanthropists or companies can create, manage, and disburse their scholarships on the platform. It was launched in 2015 and is based in Malaysia..
TNG Digital is an e-wallet operator of digital wallet and online payment platform for urban mobility. The company allows users to make payments at over 280,000 merchant touch points via QR code, pay for tolls, street parking, payment on e-hailing, car-sharing apps or taxis via RFID or PayDirect, pay bills, top-up mobile prepaid, pay for purchases on e-commerce websites or apps, order food delivery, perform peer-to-peer money transfers, renew car insurance and purchase unique insurance plans, and purchase movie, bus, trains, and airline tickets.
TNG Digital was founded in July 2017 and is headquartered in Kuala Lumpur, Malaysia.. .
Founded in 2011 from Kuala Lumpur, Innov8tif is a ISO 27001:2013 certified AI (artificial intelligence) company helping businesses to widen sales funnel, speed-up processes without paper and prevent frauds. Innov8tif has expanded its market presence in Southeast Asia.
Areas of specialization are [ 1 ] Digital identity assurance (eKYC), [ 2 ] Low-code customer onboarding process automation, and [ 3 ] Mobile biometric authentication. Built on years of trusted relationship, Innov8tif’s clientele comprises the multinational manufacturing companies, government, telecommunication companies and financial institutions.
Amongst, many are public listed companies. Innov8tif has enabled mobile network operators (i.e.
telcos), fintechs, asset management firms and financial institutions with digital customer onboarding capabilities, such as mobile sales and real-time customer self-onboarding, to comply with regulatory requirements and expand market reach. Through digital process automation, Innov8tif has also helped businesses to realize paperless office, mobile approval workflow and direct system integration, which drive profitability and reduce operational cost.
In whatever we are doing, Innov8tif subscribes to the principle of long-term relationship – be it a partnership, customer relationship or business model. “Nobody wins unless everybody wins”.
Innov8tif’s long-term business commitment is witnessed in its multi-year contracts with some prominent customers. The company’s accomplishments were honored when it gained the prestigious 2014 Red Herring Top 100 Asia Award.
Founded in 2008, Tranglo provides licensed Financial Institutions, businesses, and consumers worldwide the ability to make timely cross-border payout or transfer through Tranglo FI solutions and turn-key B2C solutions (Tik FX and TreatsUp). Their proven platform has processed more than USD 1 billion cross-border transactions for various clients.
Their history started when their first generation Prepaid Reload was done in 2008; a single reload card which enabled the top-up of multiple prepaid mobile accounts for the Malaysia-Indonesia corridor. Later that same year, they saw the addition of real-time peer-to-peer airtime Prepaid Credit Transfer platform with Malaysia Mobile Operators.
In 2011, Tranglo rolled out its FI solutions to enable cross-border money payout for Indonesia, Philippines, and Bangladesh.. .
Fintech start-up focused on building innovative and affordable gold-based products, e.g. allocated gold accounts, collateralised personal loans, cross-border remittance.
Entry strategy based on a B2B2C approach. Looking for investors and partners to scale up across Asia ex-Malaysia..
The New Age of Technology. Combine Finance, Technology, Manufacturing, Retail and Banking and what do you get? A Venture Active entity who does almost about everything.
With operations in London, Scotland, Singapore, Malaysia, Indonesia and various entities within the US, Zyraz Technology is more of a boutique investment banking with huge high risk returns compared to traditional FinTech as they are in the real know.. .
BigBrainBank, an AI investing startup, has raised 7-figure seed funding. BigBrainBank, a startup that digitally assists investors in making trading decisions using artificial intelligence (AI), has raised a USD 7-figure seed funding from angel investors.
The platform, developed using a wide range of big data, machine learning, and AI technologies, collates years of market information and matches them with an optimised, deep-learning algorithm that generates smart trade suggestions for users. The goal is to eventually allow ordinary people to make investments with minimal technical or financial knowledge, all from the palm of their hands; using the strategic combination of knowledge, skills and experience with the value-added advantage of cutting edge AI-powered technology.
BigBrainBank’s platform comes with a wide range of tools to make investing easier, ranging from risk level management, news filters, backtesting/market analysis, social media sentiments, and more. One of its most notable features is its trade ideas guide, a feature that notifies users on “what to trade” and “when to trade” based on historical data that has more than 65% accuracy.
To top it off, BigBrainBank’s platform even includes multi-channel analysis on commodities, indices, bonds and forex, with plans to integrate multi-broker accessibility in the longer term. Since the launch in July 2020, BigBrainBank’s core product, The Brain – AI Trade Strategies app, has garnered over 60,000 trial users who registered over the app stores and website.
While the platform is designed on a freemium basis, the company charges an annual subscription of US$300 for more advanced features. The founder, Brendon Yong, has over 10 years in the finance education industry, both as a trader and entrepreneur.
Education program offered by the team Moving forward, BigBrainBank expects to draw in 100,000 number of subscribers by year end. TheBrain’s core subscribers are from Malaysia.
Sun Life Malaysia
Sun Life Malaysia (Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad) is a joint venture by Sun Life Financial Inc. and Avicennia Capital Sdn.
Bhd., a fully owned Khazanah Nasional Berhad investment holding company, specialising in Insurance and Family Takaful. Sun Life Malaysia offers a comprehensive range of life insurance and Family Takaful products and services to Malaysians across the country and is focused on helping Clients achieve lifetime financial security and live healthier lives.
Sun Life Malaysia distributes its products through a range of distribution channels including bancassurance, direct marketing, telemarketing, agency, telcoassurance and government and corporate business. Sun Life Financial is a leading international financial services organisation providing insurance, wealth and asset management solutions to individual and corporate Clients.
Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of 31 March 2018, Sun Life Financial had total assets under management (AUM) of CAD$979 billion.
For more information, please visit www.sunlife.com. Sun Life Financial Inc.
trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.. .
Creating trust in the marketplace is of the utmost importance to us. PrimeKeeper aims to provide a platform to encourage collaboration amongst Service Providers to empower people connection through innovative customer-centric solutions.
With the PrimeKeeper Digital Wallet, we give you the ability to store and share your personal digital identification documents, have all your loyalty cards and promotion vouchers in one spot and make payments on-the-go. Malaysia, join us and let’s shape the digital wallet experience together..
Mobile Money International Sdn
Mobile Money International Sdn Bhd was established in February 2005 with paid up capital RM25 million.Mobile Money focuses on innovative mobile centric payment systems. They are an approved E-Money issuer governed under the Financial Services Act 2013 and Remittance provider (Class B) under the Money Services Business Act 2011 (MSB).
Mobile Money provides a fully integrated system for users to make payment and transfer money in a very simple and convenient way. They provide the following systems and services..
Loanstreet is a leading loan comparison site in Malaysia that specialises in housing loans, personal loans and credit cards. It enables fast and well-informed product selection for consumers.
Loanstreet also provides a range of tools and learning support for consumers, and a suite of tech and creative services for our partners and collaborators. Pitch: A profitable personal finance comparison site.
Personal, Housing and ASB Loans, Credit Cards, comprehensive Calculator Tools, and a Learning Centre with over 650 Articles. Regularly ranking in the Top 3 for multiple key word searches, 3x revenue growth Y-o-y.
Stage: Seed+ (Information available upon request) Loanstreet is part of the Finology Group. For more information please go to: www.finology.com.my.
Biztory is a solution that is aimed to help business owners to deal with GST matters in a simple, elegant way. Biztory is take care of all your business accounts needs with their unbeatable service and business accounting solutions.
Only the simple steps to be completed, Biztory handle the rest for you. All of your records and reports in all transactions, customers’ details and GST are automatic generated and backed-up..
ReGov Technologies is a fast growing Malaysia based information technology innovation venture. We are an early adopter of blockchain in Malaysia and our products enable private enterprises & the public sector to become more transparent, inclusive and efficient.
The team comprises of accomplished leaders from a technology, finance, life sciences & regulatory background with a combined industry & technology experience of over a hundred years in the leadership team alone. We pride ourselves in being very inclusive and meritocratic.
As a result we created a high performing team with a broad diversity in gender, age, culture, race, education & experience. What binds us together is our love for transparency, hatred of inefficiencies & leakage and a strong desire to innovate technology, process for business and social impact..
Growthbotics offers the best AI chatbots & blockchain solutions for the Finance, Banking, and Insurance Industry. the era of Artificial Intelligence and Blockchain is here.
Increase sales, improve customer relations and develop new and disruptive business insights.. .
Innovative fintech company behind established brands including: Loanstreet, Loanplus and Qompanion driving change in the banking, property, and insurance industries. Finology also provides cutting edge white-labelled solutions for MNC clients through its consultancy arm, called Fincon.
Pitch: Operates 2 profitable comparison sites and 1 growing SaaS business targeted at the property and automotive industries. Owns patents in several countries for proprietary credit evaluation technology.
3x revenue growth Y-o-y. 50,000 profiles containing accurate data on personal income and net worth, with total profiles growing at a rate of 2x a year.
SEA expansion plans underway. Stage: Series A (Information available upon request).
Loanplus provides innovative Loan Screening Solutions for Property Developers & the Automotive industry. The company provides fast and accurate loan screening results across 15 banks, and also comprehensive end-to-end loan application and approval tracking.
Pitch: A growing SaaS business targeted at the property and automotive industries. Owns patents in several countries for proprietary credit evaluation and loan screening technology.
South East Asia expansion plans underway. Stage: Seed (Information available upon request).
WorldKoins provides a mobile app for international travelers to convert leftover foreign currencies to e-Gift cards, vouchers, PayPal or even donation. WorldKoins introduced partner’s app (DropKoins), which allow partners around the world to accept leftover currencies from travelers leaving the country.
WorldKoins partners are mainly Taxi drivers, Uber drivers, duty free business and shops at international airports. Before leaving the visited country, travelers deposit their leftover currencies with a WorldKoins partner and the deposited amount is credited on WorldKoins account which can be used toward online products and services available on the app marketplace..
ManagePay Systems Berhad (“MPay”) is a provider of end-to-end electronic payment (“e-Payment”) solutions for banks and financial institutions, merchants and card issuers with operations in Malaysia. The Company is currently listed on the ACE Market of Bursa Malaysia with market capitalization in excess of RM120 million.
MPay has obtained notification of compliance from Bank Negara Malaysia (“BNM”) to operate its MPay payment systems in January 2013, pursuant to Section 5(3) of the Payment Systems Act 2003 which allow MPay to undertake merchant acquiring and to own direct business relationship with the merchants, facilitating merchants’ ability to accept credit, debit, loyalty and stored-value cards. In February 2015, MPay has received a letter of approval from BNM for the issuance of e-Money as in MPay Balance virtual account and MPay MasterCard Prepaid Card.
With these e-Money products, MPay is able to package an end-to-end ecosystem to the major retailers in Malaysia, ranging from general purpose reloadable card, travel card, gift card, salary card and etc. MPay’s business objective is to develop a disruptive yet complete consumer payment products and services, coupled with wide range of international payment capability/operation certification and security compliance such as those certified by card schemes, EMVCO and PCISSC.
MPay is well established to become a major Regional end-to-end Payment and Financial Service solution & service provider by creating the differentiation from competitors and existing market with new and comprehensive Payment Innovates to capture new business opportunities and potentials now exist in FinTech space.. .
As part of underpinning Malaysia’s vision to become a developed nation by 2020, DahPay is a company that realizes the potential financial sector that meets the imperatives of the new economic model – built on the core tenets of high value-added entrepreneurship, creativity and innovation. Thus, DahPay was created along the mission to implement a hassle-less way of payment rather than carrying wallets around due to the rapid penetration of people relying on their smartphones for all aspects of their lives, companies and finance.
Our aim is to create a strong, comprehensive and progressive financial system to underpin Malaysia’s vision to become a developed nation by 2020. Therefore, DahPay will become a full-fledged payment system for all kinds of payments and transfers, providing a solution to bring businesses to the next level..
Freceipts, a digital receipt innovation company, is changing the way we receive our receipts. Merchants no longer need to issue paper receipts (bad for the environment & costly) while customers does not need to receive a paper copy (troublesome and bad for health).
Whenever a purchase is made, a digital receipt will be sent automatically to the user’s phone. Freceipts will provide the platform to aggregate all your receipts.
This platform also comes with verification and protection against fraud. We will keep all the receipts and make it easy to view and download..
Tetrium is a blockchain enabler with the vision to simplify blockchain technology for the masses. It enables non-blockchain programmers to easily create and manage blockchain-powered digital tokens through RESTful APIs.
Whether you are using digital tokens to power digital payments, loyalty point systems, celebrity tokens or even restricted-ICOs, Tetrium has a solution for you.. .
BBazaar Malaysia (BBazaar.my) is a part of BankBazaar International, the world’s leading neutral online marketplace that helps people decide on financial products such as loans, insurance, credit cards, fixed deposits, saving accounts, mutual funds and many more. It is done over a highly secure, user-friendly, and intuitive platform.
Founded in 2008, BankBazaar focuses on harnessing technology to deliver end-to-end paperless transactions which brings huge, hassle-free convenience to customers. The end result is a personalised offer down to the individual level.
With a supportive customer service team and a growing community of users, BankBazaar is the easiest way for people to search and purchase the right financial products online. BankBazaar is supported by credible global investors including Walden International, Sequoia Capital, Fidelity Growth Partners, Mousse Partners, Amazon and Experian..
iShare7 is a fintech mobile app to empower omnichannel retail with a universal revenue sharing and loyalty platform that will help them to boost traffic, conversion and profits. At the same time, we are creating an ecosystem whereby every consumer can earn a passive income when they spend and share by utilizing the iShare7 app.
For Consumers, iShare7 is a convenient and rewarding universal loyalty rewards platform for all omnichannel purchases. For Retail Merchants, iShare7 is a powerful and accurate universal marketing solution that uses big data analytics to boost traffic, conversion and profits by helping merchants identify and reward their best customers and create alliances with other businesses..
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