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Maybank Launches Fintech Sandbox To Drive Growth
Last update: 06/06/2017

KUALA LUMPUR, June 6 (Bernama) -- Malayan Banking Bhd (Maybank) has launched the FinTech Sandbox, a regional collaborative financial technology (fintech) platform to fast-track the growth of fintech developers across the ASEAN region.

In a statement today, it said the Maybank Sandbox gives fintech start-ups and innovators an opportunity to collaborate, experiment, incubate and prototype their ideas or innovative solutions.

"Digital and technology advancements have transformed industries, driven growth and enriched lives, and in the world of finance, this charge is led by entrepreneurs, start-ups and advocates known collectively as fintechs.

"The fintech industry in ASEAN is full of potential and talent. Maybank's Sandbox aims to fill the gap by providing the tools and ability to collaborate with the smartest and brightest talent in ASEAN," said Group President and Chief Executive Officer, Datuk Abdul Farid Alias.

He added that many fintechs face the challenge of moving from ideation to creating a working viable product in order to attract the right investments and funding.

The bank said Maybank Sandbox would provide developers with a real banking application programming interface (APIs) to connect and make use of existing banking functions, and offers simulated data for analytics and simulation, coupled with development tools which would help them in creating new web and mobile applications.



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Source: Bank Negara Malaysia

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