- aims to promote blockchain expansion in Malaysia
- Fintechs selected will receive more than coaching, purchase, and financial support.
Payments Network Malaysia Sdn Bhd ( PayNet ), the country’s national payments network and a major contributor to Malaysia’s digital economy, has launched the PayNet Fintech Hub, its company’s first community and accelerator. The company stated in a statement that this software will help finance companies in Malaysia by giving startups immediate access to capital, important industry connections, economic bonuses, and opportunities to learn from and collaborate with international leaders.
A growing fintech sector, according to Farhan Ahmad, team CEO of PayNet, is essential for providing equitable and future-ready financial services that can enhance Malaysia’s growth and innovation objectives. One of the best ways to maintain Malaysia stays on top of the fast-evolving essence of financial services, especially given the rapid expansion of AI, is through successful fintech innovation.
He continued,” The PayNet Fintech Hub represents a significant step forth in enabling this perspective.”
A very selective program based on the two pillars of society and motivator is the Hub. Fintechs chosen for the area may have access to:
- a system of like-minded habitat players and founders for brainstorming and peer-research
- Over 450 days of hands-on mentoring from successful business owners and experts in their fields
- Big commercial players from the fields of banking, payments, and technology for partnership opportunities.
- A network of financial investors who provide mentoring, evaluation, and probable investment
Additionally, all community members will receive promotional financial support, including:
- More than US$ 238, 000 ( RM1 million ) in PayNet value-added credits
- Over US$ 141, 000 ( RM$ 600, 000 ) in sponsored advisory services in the fields of legal, finance, human resources, and market research
- Up to US$ 706, 000 ( RM3 million ) in cloud credits and support from major players
- Having access to a co-working area that is fully funded.
These carefully selected benefits are intended to assist owners in managing costs, overcoming challenges, reviving business models, developing go-to-market strategies, raising money, and defining clear paths to powerful exits.
The most promising companies in the community will also be handpicked for the exclusive Motivator program.
Best Indonesian fintechs gain international exposure, resources, and mentorship thanks to this track, which was developed in partnership with renowned international institutions. Participants will participate in a fully funded ten-week pedal held by Imperial College London, one of the top business accelerators in the world.
A week-long trip to London is included in the program, which includes a chance to meet with Imperial university, European and American companies, and culminates in a video day that gives exposure to walk capitalists and probable business associates. PayNet is providing 100 % of the funding for this bespoke pedal, which was created for Malaysian fintechs.
Additionally, the company announced an expanded Fintech Hub partnership with AWS that will grant Catalyst participants credit access to AWS cloud services through the newly launched AWS Asia Pacific ( Malaysia ) Region. Contributors will also be able to participate in the future Fintech Innovation Sandbox, which will help to secure and expand their businesses.
A special and revolutionary initiative aimed at expanding companies beyond their founding stages is the PayNet Fintech Hub. It addresses the main issues that fintechs in Malaysia have to address, Farhan added, and is expected to significantly expand industry growth. The Hub brings together a divided ecosystem to bring about true, flexible outcomes in response to the worldwide call for smarter collaboration and faster innovation. Its potential is quite exciting to us.
The PayNet Fintech Hub aims to fuel innovation, develop high-impact partnerships, and place Malaysia as a top finance place in the region by providing direct access to important resources.
Visit https ://fintechhub.paynet.my for more information or to qualify as a finance company for more information.