Outside of Southeast Asia, the preferred destinations for growth and expansion are the US, UK and China, it said. Partner and Malaysia Financial Services Banking & Capital Markets Advisory Leader at Ernst & Young Advisory Services Sdn Bhd Shankar Kanabiran with strong growth aspirations in the local FinTech industry that looks to expand beyond current markets, government support, policy and regulation are key to foster a sustainable and robust financial services ecosystem. He said however, FinTech firms may find themselves limited by funding options. “That said, there are many incubator and accelerator programs, and even government channels that FinTech firms can leverage for seed funding,” he said. In Malaysia, 19 per cent of FinTech firms believe there is high support from the government in terms of funding support, while 50 per cent say there is medium or moderate support, and 27 per cent indicate low support.

Source: New Strait Times April 03, 2018 03:45 UTC