Personal finance app MoneyLion launches in Malaysia
22 September 2016 | 3325 views | 0
MoneyLion, the mobile personal finance platform that helps consumers improve their financial health, today announced its launch in Malaysia.
MoneyLion’s free mobile app will help Malaysian consumers gain a 360-degree view of their finances through a suite of analytics tools that track spending and saving activity across multiple bank accounts. Currently operating in the United States, MoneyLion’s expansion into the Malaysian market is the first step in its international growth strategy.
“We are committed to bringing next-generation personal finance tools to Malaysia and the ASEAN markets,” said Diwakar Choubey, founder and CEO of MoneyLion, who spoke at the Malaysian Global Innovation & Creativity Centre’s Academy on September 21. “While many banks in the local markets offer mobile apps, MoneyLion is one of the only platforms that lets consumers connect multiple bank accounts to a single app and take advantage of personalized analytics around their entire financial lives.”
U.S.-headquartered MoneyLion chose to base its technology hub in Kuala Lumpur, a market that is experiencing increasing fintech activity. Here, MoneyLion’s chief technology officer, Cheemun Foong oversees a staff of 30 leading data scientists and software engineers.
“While Malaysia is seen as a financial hub in the region, financial literacy is still a challenge among consumers who lack access to next-generation personal finance tools. The rise of fintech in Kuala Lumpur is helping to change that environment and there is ripe opportunity for businesses like MoneyLion to introduce products and services that deliver personalized financial advice,” said Foong.