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RHB continues Digital Journey, hosts Fintech bootcamp for Malaysian startups

AvantiKumar | Dec. 9, 2015
Malaysia's RHB Bank is continuing to support innovative startups as part of its Digital Journey.

RHB Fintech Social 

Photo - Rohan Krishnalingam, Group Chief Operations Officer for RHB Banking Group (second from right) at the panel discussion during the Fintech Social event organised by Startupbootcamp Fintech, supported by RHB Bank. The discussion included startups Siew Yuen Tuck, CEO and Co-Founder of RinggitPlus dotcom and Syakir Hashim, CEO and Co-Founder of Skolafund.

 

RHB Bank is continuing to focus on innovative startups as part of its Digital Journey by hosting its first FastTrack event in Kuala Lumpur, recently organised by Startupbootcamp FinTech.

The event included expert advice for selected startups and direct access to an international network of mentors led by RHB executives, and Startupbootcamp FinTech.

Markus Gnirck, global chief operations officer of Startupbootcamp FinTech said fintech has rapidly accelerated in Malaysia. "When we first held a FastTrack in Kuala Lumpur nine months ago, we found early stage startups but limited interest from the financial industry."

"Now we see more traction from finance professionals and investors getting involved in mentorship, more community support with events dedicated to fintech and rising startups from Malaysia. RHB is one of the institutions helping to drive this change and offering their support and guidance to fintech startups today," said Gnirck.

The event, which attracted startups focused on enterprise solutions, consumer finance and finance security, pitched their value propositions to mentors from RHB, iMoney, CIMB, Next Bank, Infocomm Investments and Magic.

Fintech innovation

Commenting on the partnership with RHB, Gnirck said this move was supporting fintech innovation by providing startups with advice and insights into real life banking needs.

RHB's mentors led by Rohan Krishnalingam, group chief operations officer, said: "In line with our Digital Strategy, we are constantly exploring opportunities to provide customers with innovative digital solutions."

"In our effort to encourage fintech startups in Malaysia, we are keen to enter into collaborative opportunities with fintech startups to develop innovative ideas and solutions that meet the needs of our customers," said Krishnalingam.

"On KL FastTrack Day, RHB mentors were given the avenue to help shape fintech startups to develop their ideas further around the innovation required for the financial services industry in Malaysia," he said.

Malaysian startups will get a chance to be a part of the Startupbootcamp Accelerator in Singapore, which will include SGD24,500 seed investment during the 3-month program, access to more than 200 mentors, more than 200 investors, VCs and at the end of the programme, startups pitch at Demo Day.

In addition to FastTrack Day, RHB Group is supporting several ecosystem building efforts in the fintech community, including a FinTech 'Hackathon' lined up for April 2016.

 Next Bank KL

The evening FinTech Social event held at Makespace, Quill City Mall included a panel with RHB's Rohan Krishnalingam, SkolaFund chief operations officer and co-founder Syakir Hashim and Siew Yuen Tuck, co-founder and chief executive officer of Saving Plus.

Co-leads from Next Bank KL Jason Lee Chun Jon, Lee Yen Ming and Wilson Beh Wei Chean gave an introduction on FinTech during the panel: "Next Bank KL is glad to be partnering with Startupbootcamp in their latest KL FinTech Social event. Startupbootcamp has been actively involved in supporting the global community initiatives and it is no less different here in Malaysia. The FinTech wave is here and Next Bank KL is proud to build the community in riding with the wave."

Founded in 2010, Startupbootcamp is a global startup accelerator with 14 programs in Amsterdam, Barcelona, Berlin, Copenhagen, Eindhoven, Istanbul, London, Miami, New York and Singapore. More than 300 startups have been accelerated by Startupbootcamp of which 79% are still active.

 

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