- Included Malaysian Youth Fintech Association as its official youth vertical
- Extended the tenure of its Exco and Committee members to a two year term
The Fintech Association of Malaysia (FAOM) held its Annual General Meeting recently and elected a new committee for its 2023/2025 term of office, reporting a growth of 40 new members via an extensive outreach programme and through more than 40 engagements over the year.
In a statement, the association said the meeting also passed a resolution to bring under its umbrella the Malaysian Youth Fintech Association, which will now be recognised as the official youth vertical under FAOM.
In addition, members also voted to pass a resolution to extend the tenure of Exco and Committee members to two years per term, from the previous one-year term, to cement and facilitate continuity in initiatives and outreach, it said.
FOAM president, Wilson Beh said he is honoured to be able to serve as president once again, with the support of a strong Exco and dynamic Committee line up.
“With the fresh mandate and the two resolutions passed by members at the AGM, the association will further expand our membership base, work hand in hand with the regulators and all relevant stakeholders to shape the future of the Malaysian fintech industry.”
According to the association, FAOM, which was established in 2016, has grown from strength to strength and is now officially recognised as the fintech industry association on the Bank Negara Malaysia website, boasting more than 100 members from across the entire spectrum of fintech verticals and support industries.
Its main objectives are to accelerate innovation in the financial sector, connect entrepreneurs and startups in their initial steps and be the catalyst toward better national policies, legislation, and regulations in fintech.
It added that these aims are guided by the five pillars of Regulatory Awareness, Investment Facilitation, Market Entry and Expansion, Tech Adoption and Talent Development.
FAOM’s 2022 highlights included:
- Co-founding member of ONE ASEAN Fintech, a regional level alliance for fintech
- associations with reciprocal benefits for FAOM members
- Securing a permanent secretariat office at the Asian Institute of Chartered Bankers building
- Hosted a free to attend Digital Banking Conference with Bloomberg
- Hosted a DITO industry roundtable for members, attended by Bank Negara and co-facilitated with all Big 4 accounting companies
- Actively engaged with regulators, industry practitioners and associations from Hong Kong, Singapore, Philippines and Indonesia
- Hosted industry sessions with World Bank, MDEC, Temasek Trust, International Financial Centre, Bloomberg, Chainanalysis, Carsome, KAF Digital Bank, PayNet, Fusang Digital Securities Exchange, to name a few.
Moving forward, FAOM key initiatives will include:
- Building Fintech thought leadership in key policy making areas affecting the Malaysian fintech industry
- Launching a Certified Fintech Profession qualification in collaboration with Asian Banking School, aimed at enhancing knowledge and skills within the greater financial services industry
- Working with regulators in curating and hosting industry events for the benefit of the industry generally and profiling the Malaysian fintech industry specifically
- Enhancing engagements with other non-finance related digital entities such as MDEC andMOSTI
- Enhancing member onboarding and community driven activities towards nurturing a strong fintech ecosystem as the industry evolves and matures.
The complete list of office bearers for the 2023- 2025 Term are:
Executive Committee Members
President: Wilson Beh (PolicyStreet)
Vice President: Farah Jaafar (Fusang Digital Securities Exchange)
Secretary: Jonathan Lim (Zaid Ibrahim&Co, in association with KPMG Law)
Treasurer: Anil Singh (Silverlake)
Committee Members
Arvin Singh (Hoolah/Shopback)
Calvin Foo (Grab Digital Bank Project Malaysia) Jubin Mehta (Tune Protect Malaysia)
Marc Fong (FWD Group)
Mukesh Dhawan (Drivn)
Tang Mun Wai (SEA/Shopee)
Vincent Xu (Finology)