Easy Banking with Apps: Malaysia is seeing a big change in how people do their banking. Instead of going to traditional banks, more and more people are using mobile apps and websites for their banking. Companies in fintech are making these digital banking experiences easy and fast, challenging the old way of doing things.
New Money Technologies: In 2024, Malaysia is getting more interested in new technologies like blockchain and cryptocurrencies. Blockchain is a safe and open way of doing transactions, and cryptocurrencies are becoming more popular for investing. As the rules around these technologies change, Malaysia is becoming a leader in these new and exciting financial technologies.
Banking for Everyone: Fintech is making sure everyone can use banking services. From digital wallets to small loans, fintech is helping people who might not have had access to these services before. This means more Malaysians can use and benefit from different kinds of financial tools.
Rules That Make Sense: Malaysia is working on making rules that help fintech grow while keeping people and their money safe. Good rules mean that fintech companies can try new things and grow, but they also have to make sure everything is secure and private. Clear and fair rules are important for fintech to work well.
Smart Computers Helping You: Smart computers, also known as Artificial Intelligence (AI), are changing how fintech works. In 2024, Malaysia is using AI to give people personal and helpful financial advice. This technology is also making sure that things like fraud (tricking people with fake transactions) are caught quickly. Using AI makes things easier for people and businesses in fintech.
As Malaysia moves into 2024, fintech is making money matters different and better. The mix of digital banking, new money technologies, banking for everyone, fair rules, and smart computers is making finance more interesting and useful for Malaysians. The future looks exciting for fintech in Malaysia!
The post Discover the Future: 5 Important Ways Fintech is Changing Malaysia in 2024 appeared first on World Finance Council.