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Fintechs should continue to educate investors, provide better customer experience

Fintechs should continue to educate investors, provide better customer experience

05 Oct 2020

In the light of increased interest in the Malaysian capital markets, education and awareness remain as key components in the long-term for nancial technology (ntech) start-ups to instil more condence in equity crowdfunding (ECF).

pitchIN chief executive oce (CEO) and co-founder Sam Shae said as more people are looking to invest in companies after missing ECF rounds, he proposed for the Securities Commission Malaysia (SC) to consider opening the chance to invest in the secondary market, which is doing well.

“Although this may take time, maybe one or two years, we are hopeful for the SC to actually push the button as the capital market is dynamic and will continue to evolve, ” he said in a panel discussion titled “Navigating the New Normal: How Has Fintech Fared Through Covid-19 Crisis?” via the virtual SCxSC Fintech Conference (SCxSC) today.

Sam also noted that the Covid19 pandemic helped his platform, pitchIN, to accelerate and get its base audience to embrace technology much faster and more positively than expected.

“People will also realise that ntech start-ups, like us, will make investors’ lives easier. With its easy access to information and opportunities, it also aggregates everyone on a common platform that gives everyone the same information that they need in terms of fundraising and investing.

“Moving forward, as the (Covid19) pandemic has quickened technology adoption, we hope to continue growing stronger, ” he added.

Meanwhile, Wahed Invest’s Asia-Pacific head Syakir Hashim, who was also a panellist, noted that due to some uncertainties in the current environment, investment transaction volumes could slow down in the near term.

However, he is bullish on the long-term outlook, as, due to the Covid-19 pandemic and the subsequent Movement Control Order, many Malaysians have ventured into fintech for the first time.

“I trust that my ntech peers have also served their clients well, providing delightful experiences and leading people to talk about it.

“Many markets have started to realise that ntechs are giving incumbents a run for their money because of the digital experience, and the quality of service is now almost the same, if not better than what is already out there.

“This is besides the immense cost savings that they (investors) get when they use a fintech solution (due to the short turnover period), ” said Syakir.

On the sustainability of ntech companies, another panellist, Rakuten Trade Sdn Bhd acting CEO Kazumasa Mise said as an online stockbroker, eorts to continue providing better and improved services and customer experience, as well as, supporting optimal asset building were important to keep companies sustainable in the long run.

Source: Bernama Posted on : 05 October 2020