Fintech Association of Malaysia

What Fintech Association of Malaysia does

Fintech Association of Malaysia (FAOM) is a non-profit industry association founded in 2016 to act as the unified voice of Malaysia's fintech community and a catalyst for national policy, legislation and regulation. It serves fintech startups and entrepreneurs, established fintech corporates, financial regulators (Bank Negara Malaysia, Securities Commission Malaysia), investors and capital providers, individuals interested in fintech, and foreign fintech companies entering Malaysia. Headquartered in Kuala Lumpur with an Executive Committee composed of industry practitioners, FAOM operates a horizontal ecosystem model spanning InsurTech, Capital Markets, RegTech, Women in FinTech, Cyber Risk, Web 3.0, Green & Sustainable Finance, and Payments sub-committees.

FAOM's core offering is a tiered annual membership program — Affiliate (RM 500/year for individuals), Associate (RM 500 to RM 6,000/year based on company size for firms indirectly related to fintech), and Corporate (RM 500 to RM 6,000/year based on company size for firms directly in fintech) — augmented by a BNM Regulatory Sandbox Pre-screening and Mentorship Programme, an events platform supporting Physical, Virtual and Hybrid formats, a jobs board, a searchable corporate member directory, downloadable resources and publications, and vertical-specific sub-committees that drive regulatory engagement. There is no proprietary technology product or AI system underlying these services; the platform layer is a standard WordPress site with manual email-based sandbox submissions.

Revenue is generated entirely from recurring annual membership fees and is not publicly disclosed. Distribution is predominantly self-serve through FAOM's website portal, supplemented by direct outreach via events, workshops and government-partner channels (BNM regulatory sandbox pathway, PayNet Fintech Hub, MDEC, InvestKL, MIDA, MATRADE). The association is supported by Bank Negara Malaysia and acts as the only recognized body representing all verticals of fintech in Malaysia.

Name

Fintech Association of Malaysia

Legal name

Fintech Association of Malaysia

Website

https://fintechmalaysia.org

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

FAOM is a Malaysian non-profit industry association, founded in 2016, that serves as the unified voice of the country's fintech ecosystem, connecting startups, corporates, regulators and investors through tiered membership, BNM regulatory sandbox pre-screening, sub-committee-driven vertical engagement and ecosystem partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Shah Alam

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Membership Fees: FAOM generates revenue through annual membership fees from three tiers: Affiliate (individual), Associate (companies indirectly related to fintech), and Corporate (companies directly in fintech). Fees are structured based on company size, ranging from RM 500 to RM 6,000 annually.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

FAOM is a non-profit fintech industry association that delivers tiered annual membership services to individuals and organizations in Malaysia's fintech ecosystem. Its core offerings include Affiliate, Associate, and Corporate memberships, the BNM Regulatory Sandbox Pre-screening & Mentorship Programme, community events and meetups, a corporate member directory, a jobs board, downloadable resources, and industry sub-committees covering verticals such as InsurTech, Capital Markets, RegTech, Women in FinTech, Cyber Risk, Web 3.0, Green & Sustainable, and Payments.

Product overview

FAOM (Fintech Association of Malaysia) is a non-profit industry association founded in 2016, not a product company. It operates as a unified national platform advancing fintech in Malaysia through membership services, regulatory engagement, and ecosystem development. The core offerings include tiered membership programs (Affiliate, Associate, Corporate), a BNM Regulatory Sandbox Pre-screening & Mentorship Programme, an Events Platform, a Jobs Board, a Corporate Member Directory, Resources & Publications, and Industry Sub-Committees organized by fintech verticals. These services collectively connect startups, corporates, regulators, and investors to champion growth, shape policy, and unlock opportunities in Malaysia's fintech ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• FAOM Membership

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Payments Network Malaysia (PayNet)coreStrategic or Co-development Partner · 26 May 2025PayNet signed an MoU with FAOM to jointly develop Malaysia's fintech sector and establish the PayNet Fintech Hub. The hub will provide fintech startups with infrastructure access, regulatory engagement opportunities, and connections to key players in the financial ecosystem. The initiative aligns with Malaysia's national ambitions to position itself as a regional fintech hub through partnerships, knowledge-sharing, and collaborative events.
• Bank Negara Malaysia (BNM)coreStrategic or Co-development PartnerFAOM collaborates closely with Bank Negara Malaysia (BNM) to provide pre-screening and mentorship support to applicants that wish to explore the Regulatory Sandbox. This structured pre-screening process is aimed to provide guidance to applicants prior to submission of an application to the Sandbox. The partnership helps identify areas where the regulatory framework might evolve to better support fintech innovation.
• Securities Commission Malaysia (SC)majorStrategic or Co-development PartnerFAOM represents the Capital Markets Services (CMS) community to engage with regulators on regulations, market structure, and industry standards. The Securities Commission Malaysia has direct responsibility for rule-making, enforcing regulations pertaining to the capital market, ensuring sustainable market growth and development, and supervising capital market activities.
• Malaysia Digital Economy Corporation (MDEC)majorGTM or Marketing PartnerMDEC is an agency under the Ministry of Communications and Multimedia Malaysia which focuses on accelerating Malaysia's digital economy growth. FAOM connects members with MDEC for digital economy resources, market entry support, and international expansion assistance.
• MRANTIminorGTM or Marketing PartnerMRANTI provides a platform for researchers and innovators with resources for ideas and purposeful innovations to thrive. FAOM connects members with MRANTI for research and innovation support.
• InvestKLminorGTM or Marketing PartnerInvestKL is an Investment Promotion Agency focused on attracting Fortune 500 and Forbes 2000 multinational companies, unicorns, and fast-growing companies to establish regional hubs in Greater Kuala Lumpur. FAOM assists members with market entry and expansion support through this partnership.
• Malaysian Investment Development Authority (MIDA)minorGTM or Marketing PartnerMIDA is Malaysia's cutting-edge agency under MITI for industrial development. FAOM connects members with MIDA for investment and business development support.
• MATRADEminorGTM or Marketing PartnerMalaysia External Trade Development Corporation promotes and develops Malaysia's external trade. FAOM connects members seeking international expansion with MATRADE's export development services.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Regional players

• ASEAN Fintech Network: A regional umbrella network convening fintech associations across ASEAN markets. Relevant as both a potential partner and a competitive layer above national associations like FAOM in regional policy coordination.
• Fintech Australia: Australia's national fintech industry association, a comparable membership-based industry body serving an APAC market. Comparable mandate of regulatory advocacy (with ASIC/RBA) and ecosystem development, though operating in a different national geography.

Direct peers

• Hong Kong Fintech Association: Hong Kong's national fintech industry association serving a comparable role — uniting fintech firms, regulators, and investors. Operates in a closely comparable Asia Pacific regulatory and ecosystem context as FAOM.
• Singapore Fintech Association: National fintech industry association for Singapore, the closest geographic and structural peer to FAOM. Operates a membership-based model connecting fintech startups, corporates, regulators (MAS), and investors, mirroring FAOM's role in Malaysia.
• AFTECH (Asosiasi Fintech Indonesia): Indonesia's national fintech industry association, a direct peer serving a Southeast Asian market. Engages with OJK and BI on regulatory matters, supports fintech ecosystem development, and runs a tiered membership program analogous to FAOM.

Others

• Money20/20: Global fintech industry events and media business. While not an association, Money20/20 competes for the same ecosystem-engagement budget and serves a comparable convening function for the fintech community, making it an adjacent industry platform.

Broad incumbents

• UK Fintech (formerly Innovate Finance): The UK's leading fintech industry body, a more mature and globally recognized equivalent of FAOM. Operates similar functions — policy advocacy, ecosystem development, regulatory engagement (with FCA) — but at significantly larger scale and global footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/FinTechMY
• Facebookfacebook.com/fintechmy
• LinkedInlinkedin.com/company/fintech-association-of-malaysia

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fintech Association of Malaysia