Finexus Group to invest in a US$2.38mil fintech R&D centre in Penang’s CD2@George Town

  • Investing over 5 years, collaboration with local fintechs and digital companies
  • Digital Penang targets 50 investors to CD2@George Town, 2k high income jobs  

Clement Loh, MD and CEO of Finexus Group (far right) with Penang Chief Minister, Chow Kon Yeow (5th from right) at the launch of Creative Digital District @ George Town.

Finexus Sdn Bhd will invest US$2.38 million (RM10 million) over the next 5 years in building a sustainable fintech ecosystem in Penang by collaborating with local fintechs and digital companies in the Creative Digital District @ George Town (CD2@George Town) in support of Penang’s Digital Transformation Masterplan 1.0. A diversified Malaysian technology company, Finexus serves over than 100 banking and financial institutions across ASEAN.

“We like to work with VCs, fintechs, startups and mid-growth companies by providing them with our ready-to-use MyXaaS Collaboration Platform which offers services such as Application as a Service, Financial as a Service and Capital Lending. TheseFinexus Group to invest in a US$2.38mil fintech R&D centre in Penang’s CD2@George Town aspiring digital companies can speedily build-up their digital products and services and go to market by leveraging on our ready-to-use services without having to build themselves,” said Clement Loh (pic, right), Group MD and CEO of Finexus Group.

MyXaaS Everything as a Service consists of software and financial services such as eKYC Remote Onboarding, Credit Background Checks, Legal Agreement Digital Signing, Cards Wallets and Payments Acceptance Processing such as DuitNow and Mastercard brands, Buy-Now Pay-Later and ERP services and much more. All MyXaaS services comply with and have obtained necessary regulatory approvals.

Finexus Group to invest in a US$2.38mil fintech R&D centre in Penang’s CD2@George Town“We are pleased to welcome Finexus as an ecosystem partner of CD2 @ George Town in our efforts to strengthen the digital economy of Penang. This partnership is in line with our aim towards driving the digital journey as we utilise digital technologies in a more pervasive way. With Finexus establishing a fintech R&D hub in Penang, we believe that our talent will be well-equipped to adapt to a world of rising automation and software. Over the next 3 years, Digital Penang is targeting to attract 50 digital investors into CD2 @ George Town with an investment commitment of 2,000 high-income jobs in the district,” said Tony Yeoh (pic), CEO of Digital Penang.

CD² @ George Town will act as a catalyst to spur innovation and investments in digital technology, software services and creative arts that will revive the urban core as a business district.


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