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KUAL A LUMPUR: The Malaysia Digital Economy Corp (MDEC) today launched the Fintech Booster programme to support the growth and development of financial technology (fintech) companies in Malaysia.

The Fintech Booster programme, developed in collaboration with Bank Negara Malaysia, provides capacity building programmes for fintech companies based in Malaysia to develop innovative products and services by enhancing their understanding of legal, compliance and regulation requirements.

Three verticals will be introduced in the programme that covers legal and compliance, business model, and technology.

The first vertical on legal and compliance will initiate the launch of the programme by enabling fintech companies to participate in public sessions or clinics.

BNM said the programme will be provided by participating booster partners, covering topics ranging from company law, to cyber security and data governance.

Six legal and consulting firms have volunteered to provide their expertise in legal and compliance for this round of the vertical programme.

The programme also seeks to build a centralised hub for consultants, advisors and solution providers to provide fintech companies the necessary tools and support to develop their products and services.

The Fintech Booster programme is expected to spur a more dynamic fintech ecosystem that can facilitate the continued innovation in the financial services sector, whilst contributing to a thriving digital economy in Malaysia.

Source: https://www.nst.com.my/business/2020/08/613946/mdec-and-bank-negara-launch-fintech-booster-programme-support-fintech