Visa, AIBIM lures regional fintech startups for Islamic finance innovations

Photo: REUTERS/Sean Gardner

Visa and the Association of Islamic Banking Institutions Malaysia (AIBIM) have partnered to launch the Asean Fintech Challenge in conjunction with the Global Islamic Finance Forum 2016 (GIFF) next month in Kuala Lumpur.

The challenge will be organised by Nxt Bnk KL, to bring the best and most innovative fintech startups from the region to compete in the capital city, with teams having the opportunity to present their ideas to over 500 GIFF delegates from all over the world.

Visa country manager for Malaysia Ng Kong Boon said: “The most exciting innovations happen at the edge of the payments network. The partnership with the Association of Islamic Banking Institutions Malaysia (AIBIM) will enable us to collaborate with the fintech community and speed up the cycle of financial innovation in the country and the Southeast Asia region.”

“GIFF presents a great opportunity for fintech startups to showcase their offerings for Islamic finance, which is rapidly gaining traction in Muslim-majority nations and international financial centres. The forum has attracted over 500 delegates, many of them in the Islamic finance industry, who will be able to partner with these startups to take their services to the next level,” AIBIM executive director, Yusry Yusoff said.

Seven teams will be selected for the semi-finals, with three shortlisted for the finals. The pitching sessions are open to the delegates, with decisions made by a panel of judges. There will be cash prizes to be won.

The Asean Fintech Challenge is open to residents of the 10 member states; Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Also read:

Regulators must “wake up” to fintech challenge – IOSCO chief

Malaysia’s CIMB focuses on developing fintech solutions with InnoChallenge winners

Singapore’s NRF, MAS to set up Fintech Office to handhold startups

Fintech turns hottest global bet with VC deployment doubling to $13.8b in 2015

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.