SC launches fintech initiative

KUALA LUMPUR: The Securities Commission has launched the Alliance of FinTech Community or aFINity@SC, an initiative to catalyse greater interest towards the development of financial technology (fintech).
The establishment of aFINity@SC seeks to drive a network of fintech stakeholders to accelerate growth and innovation in this industry.
In its capacity as chair of the Malaysian Venture Capital Develop Council, the SC will coordinate with other authorities to pursue key deliverables including raising awareness, forming hubs to organise and nurture the fintech ecosystem, as well as providing policy and regulatory clarity to promote responsible financial innovation.
As a start, the SC will issue a call for participation to generate response and expressions of interest from relevant stakeholders, including innovators, entrepreneurs, established businesses, investors and other authorities to chart the fintech agenda together for Malaysia.
aFINity@SC will also assist firms in navigating the regulatory environment by facilitating discussions between businesses and relevant authorities.