GXBank and Grab Malaysia Launch Innovative Fintech Accelerator Program
GXBank BHD and Grab Malaysia are taking a significant step forward in fostering innovation within Malaysia’s fintech sector. They have selected eight startups for the Texnovasi accelerator program, which is designed to enhance the growth of early-stage fintech companies in the country.
Selected Startups for the Texnovasi Accelerator
The selected startups include cashku, du-it, enprivy, findoctor.my, finory.tech, kapitani, pulselink, and swipey. These companies are focusing on critical areas such as fraud protection, digital security, and empowering micro, small, and medium-sized enterprises (MSMEs) to thrive in a competitive financial landscape.
Focus on Financial Inclusion
In a statement, GXBank emphasized that the chosen startups are addressing essential aspects of financial inclusion. “Each startup plays a vital role in enhancing access to financial services and building a secure digital environment,” the bank noted. This focus aligns with the broader goal of improving financial sector accessibility across Malaysia.
Criteria for Selection
Fadrizul Hasani, the technology director at GXBank, explained that startups were selected based on their potential to contribute to three key areas: accessibility, security, and customer experience. He acknowledged the challenges many startups face, including regulatory hurdles and technological compliance, while highlighting the immense potential for innovation within the Malaysian fintech ecosystem.
Supporting Local Fintech Startups
The Texnovasi program, supported by Cradle Fund and 1337 Ventures, is the foundation of this initiative, aiming to mentor local fintech startups and provide them with necessary resources. By positioning Malaysia as a leading player in the digital finance revolution, the program seeks to create a robust startup ecosystem that can withstand global competition.
Workshops and Networking Opportunities
Bikesh Lakhmichand, CEO of 1337 Ventures, expressed that the program is meticulously designed to equip startups with essential skills and critical insights necessary for success in the financial sector. Workshops will focus on market entry strategies, innovations, and business expansion, providing startups with the tools needed for sustainable growth.
Personalized Mentoring from Industry Experts
GXBank has also highlighted that selected startups will receive personalized mentoring and guidance from industry experts affiliated with both Grab Malaysia and GXBank. This support is intended to enhance the startups’ capabilities and effectiveness as they navigate the intricacies of the competitive fintech landscape.
Conclusion
The Texnovasi accelerator program stands as a beacon of hope for aspiring fintech entrepreneurs in Malaysia. By fostering innovation, providing essential resources, and creating networking opportunities, GXBank and Grab Malaysia are paving the way for a vibrant fintech future in the region.