Bridging the mentoring gap in Malaysia’s growing fintech ecosystem

Free Malaysia Today

GXBank’s TeXnovasi programme provides a crucial platform for local start-ups to develop and showcase innovative solutions aimed at advancing the nation’s finance and technology sectors.   Read More:  https://www.freemalaysiatoday.com/category/nation/2025/07/01/bridging-the-mentoring-gap-in-malaysias-growing-fintech-ecosystem-2   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------  Check us out at https://www.freemalaysiatoday.com  Follow FMT on Facebook: https://bit.ly/49JJoo5  Follow FMT on Dailymotion: https://bit.ly/2WGITHM  Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h  Follow FMT on TikTok : https://bit.ly/3uKuQFp  Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX  Follow FMT LinkedIn - https://bit.ly/42YytEb  Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj  Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------  Download FMT News App:  Google Play – http://bit.ly/2YSuV46  App Store – https://apple.co/2HNH7gZ  Huawei AppGallery - https://bit.ly/2D2OpNP   #FMTBusiness #GXBank #TeXnovasi #InnovativeSolutions

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00:0045.5 billion U.S. dollars

00:03That is how much the fintech market in Malaysia was valued at in 2024.

00:10It is expected to grow to 53.89 billion U.S. dollars by this year

00:15with a compound annual growth rate of 15.56%.

00:19Last year, the Malaysia fintech report revealed that over 280 fintech companies were active in the industry.

00:26However, it was GXBank, created Undergraab's ecosystem and launched in 2023,

00:32that created history along with two other banks by becoming the first three digital banks in the country.

00:39Fintech was a space that has tremendous potential

00:43and the bank is well positioned to provide its advice there.

00:48GXBank made history as the first of five digital bank licensed applicants

00:52to get the green light from the Finance Ministry and Bank Negara Malaysia.

00:57It commenced operations in September 2023 and officially launched in November that same year.

01:03Fast forward to December 2024, and the bank gained over 1 million customers nationwide.

01:10Despite still being a young bank,

01:12the team behind GXBank is already looking at ways to give back to the community they once came from.

01:17When we started Grab from day one, when we were building MyTaxi back then,

01:22there were a lot of lessons and a lot of mistakes that we had made

01:25that we want to share with these startups,

01:28because I think these are invaluable.

01:30Having walked through the path in building Grab and building GXBank,

01:36the leaders at Grab and GXBank were thinking how can we pay it forward?

01:41How can we help the next generation of startups and entrepreneurs

01:44to bring newfound technological advancement to Malaysia

01:48while creating more income and economic opportunity?

01:52Enter Technovasi.

01:54The Accelerator program is here to empower a new wave of startups

01:58driving innovation in customer experience, accessibility,

02:02and security across Malaysia's financial landscape.

02:05People talk a lot about funding, people talk a lot about ideas,

02:10but people forget about the people that we have here,

02:13and I think that's something that we'd like to recognize during the program.

02:17The six-month program offers specialized mentorship to selected local startups

02:22with the help of strategic partners including Cradle Fund and 1337 Ventures.

02:26We should also list out actionable items for them, what the next step they should do,

02:33and then we do a follow-up against that as well.

02:35So not just from a technology and marketing perspective,

02:38we also have someone from COSEC as well as a mentor to help with corporate guidance.

02:44With guidance from experienced mentors,

02:46Technovasi aims to propel startups towards bridging Malaysia's financial gaps faster,

02:51bolder, and more confidently than ever.

02:55FinTech is quite a diverse and complicated space,

03:01and you may require specialization to be able to succeed.

03:04But as a startup, you may have limited access to be able to get this kind of stuff.

03:10That's the barrier that we want to break with Technovasi, right?

03:12But beyond mentorship, right, we also want to help with programs and market access

03:18that can help them with speed because speed is also very important when you're trying to

03:24build advancement in technology and having the know-how,

03:27having that guided journey will help them achieve that.

03:31On May 19th, the top five finalists were selected.

03:35In Technovasi's final stage, startups bring their proof-of-concept solutions to life

03:40and pitch them directly to key stakeholders from GX Bank and Grab.

03:45From there, three teams will be chosen for an opportunity

03:48to develop innovative solutions that improve financial access for Malaysians.

03:53My personal point of view is that a successful program

03:58graduates a cohort that can then go on to teach

04:02other entrepreneurs and other startups.

04:05So then it becomes, you know, a little bit of an alumni or like a badge of honor, right?

04:10Like if a company has graduated from this program, then that's someone you want to speak to

04:15because they could possibly help you in your in your journey.

04:18Narmathar Raja, FMT.

04:22I'm going to move on to the B Porco.

04:24Until then.

04:25Seems really great to use.

04:26We need confidence in those as well.

04:28So my first ref sich for that kind of experience in Ancient Just Deliverant,

04:29that

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