Big Dataworks Sdn Bhd’s inaugural Fintech Digital Forum 2023 is a conversation that the Malaysia Global Business Forum (MGBF) is happy to contribute to. The much awaited Fintech Digital Forum, which is set to take place at the Eastin Hotel here on November 15, 2023, is expected to draw 150 industry participants from 28 prominent fintech businesses in Malaysia. The forum, themed ‘Empowering Others – Inspiring Innovation,’ is expected to serve as a driving force behind financial technology in the nation going forward.
Because of aggressive government backing and industry-development measures, Malaysia has seen notable growth in the fintech sector in recent years. The Fintech Digital Forum provides guests with a unique chance to get insights into the laws and regulations impacting the future of the industry, in line with the government’s ambition to establish Malaysia as a regional fintech hub.
According to recent studies, fintech has significantly changed how people work, live, and play. For instance, between 2019 and 2023, interactions with chatbots related to banking will increase by 3,150 percent, and robo-advisors are predicted to handle approximately USD2 trillion in assets worldwide.
In the next ten years, artificial intelligence (AI) will drive almost 95% of all client interactions, increasing labor productivity in the banking industry by as much as 40%.
Big Dataworks’ CEO, Sheriza Zakaria, reaffirmed the company’s commitment to making sure Malaysia is a leader in the fintech industry. She cited the creation of a unique networking space to promote cooperation amongst fintech companies and expedite the application programming interface (API) pipeline through the MYDATA API program. He emphasized that although fintech offers enormous prospects, there might be high entry costs. Big Dataworks hopes to actively solve this obstacle.
As of June 2023, 335 fintech unicorns worldwide are predicted to be valued USD1.55 trillion, according to FintechLabs’ list of 21st Century Fintech Unicorns. As a fintech investment destination, Malaysia has the ability to draw these businesses to operate there and, more crucially, nurture indigenous businesses into this elite group of businesses.
Sheriza added, “Big Dataworks will facilitate the sector and guarantee that SMEs may seize new chances in the ever-changing and dynamic fintech landscape. In collaboration with public sector partners, we can help the government foster important relationships inside the fintech industry.”
The secret to success in the dynamic and ever-changing fintech world is innovation. Industry executives, startups, and enthusiasts can discover and seize new opportunities on the Fintech Digital Forum. Through stimulating panel discussions, participants will learn about the newest trends, cutting-edge technologies, and innovative business models that are reshaping the fintech sector in Malaysia.
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