Seven Startups Join ASEAN Fintech Challenge in Malaysia

May 9, 2016         By: Melanie Macinas

Seven financial technology startups will have a chance to pitch their ideas in the semifinals of the Visa and the Association of Islamic Banking Institutions Malaysia (AIBIM)’s ASEAN Fintech Challenge in Kuala Lumpur.

The event, organised by Nxt Bnk KL and held along with the Global Islamic Finance Forum 2016 (GIFF 5.0) on May 10 to 12, 2016, seeks to bring the most innovative fintech startups from the region to compete in the Malaysian capital.

The seven startup companies are:

Currenseek – helps travelers find the best exchange rates near them;

Berrypay – focuses on mobile payments and fund transfer and has connections with 85 Indonesian banks;

Kapital Boost – A Shariah-focused crowdfunding platform for small- and medium-sized enterprises;

Softpay Mobile – empowers small businesses to accept credit card payments;

Pconnex – provides peer to peer funding;

Araysun- offers cheque processing; and

PrimeKeeper – seeks to bring banks together to enable payments to almost anyone

A panel of judges consisting of representatives from VISA, AIBIM, Maybank, Nxt Bnk and the Investment Account Platform will select three startups to compete for the finals on May 11.

Mr. Ng Kong Boon, Visa Country Manager for Malaysia, commented, “At Visa, we are excited to hear the ideas presented by the various startups competing in the ASEAN Fintech Challenge. As the leader in promoting Innovation and Islamic Cards product in ASEAN region, we believe that this is an opportune time for us to partner with the Association of Islamic Banking Institutions Malaysia (AIBIM) to collaborate with the FinTech community so that we can bring financial innovation to Malaysia and the ASEAN region. We wish all the startups competing in this challenge the best of luck.”