MoneyMatch wins Asean SME Award at Singapore Fintech Festival 2018
By Digital News Asia November 27, 2018
- Grown from three co-founders to a team of 30 full time staff in 18 months
- To date has transacted close to RM300 million with over 10,000 registered users
MALAYSIAN fintech startup MoneyMatch was recognised as one of three winners for the Asean SME category of the SG Fintech Awards in conjunction with the Singapore Fintech Festival 2018 (SFF 2018) from Nov 12 – 16, 2018.
The ceremony was witnessed by close to 40,000 attendees who attended the week-long annual international fintech gathering hosted by Monetary Authority of Singapore in collaboration with the Association of Banks in Singapore (ABS).
Other winners in the Asean SME category include fintech startups from Indonesia and Thailand.
MoneyMatch was the only fintech startup representing Malaysia from a total of 40 shortlisted finalists, due to their win at the Malaysian leg of the Asean PitchFest competition organised by PwC in collaboration with MAS prior to SFF 2018.
MoneyMatch co-founder and CEO Adrian Yap, opined, “the Asean SME award recognition solidifies what MoneyMatch has always believed; that Malaysian technology companies are dynamic and capable of competing on a global platform such as the Singapore Fintech Festival.
“We are immensely proud to be selected by the panel of international judges comprised of regulators, venture capital investors and professional services firms and gain international recognition by being selected as one of three recipients of this award.
“This win is also a testament that MoneyMatch is solving a real problem with regards to cross border payments in the Malaysian SME market and will continue to double down on its efforts to serve the Micro, Small and Medium enterprises that are often underserved by mainstream financial institutions.
“We would also like to record our appreciation to Bank Negara Malaysia for allowing us to begin this journey with their innovative sandbox programme, and the encouraging support offered by Cradle Fund Sdn Bhd which has seeded us with their CIP300 technology commercialisation grant earlier this year.”
MoneyMatch is approved by Bank Negara Malaysia under the Fintech Regulatory Sandbox in June 2017 and was the first to launch a fully electronic know-your-customer (eKYC) customer onboarding process through their mobile app.
The company publicly launched its digital remittance platform back in October 2017 and to date has transacted close to RM300 million with over 10,000 registered users and close to 500 SME customers taking full advantage of MoneyMatch’s cheaper pricing and faster disbursement speeds compared to existing telegraphic transfer services offered by traditional financial institutions.
MoneyMatch has also grown from just the original three co-founders to a team of 30 full time staff in just a 18 months, providing career opportunities to young Malaysians looking to enter the nascent fintech industry.