Bank Negara Malaysia’s financial technology enabler group (FTEG) is seeking ideas from the public on financial services sector improvement via innovation and technology.

Financial technology is popularly known as fintech, which is seen as a game changer in the financial services industry. In a statement today, Bank Negara said it was soliciting ideas via its Fintech Hacks initiative.

“The call for participation for ideas is now open through the ‘Fintech Hacks’ initiative which aims to identify pain points in the delivery and consumption of financial services, and solicit ideas using the application of technology to address the gaps.

“The Fintech Hacks call for participation is part of Bank Negara’s effort to involve the public in contributing their ideas and experience to spur and inspire the development of fintech solutions that have the potential to revolutionise the way financial services are delivered to consumers in Malaysia,” Bank Negara said.

Bank Negara had established FTEG in June 2016. FTEG is a cross-functional committee responsible for formulating policies to facilitate the adoption of technological innovation in the Malaysian financial-services industry.

Source: The Edge