A new partnership has been announced between Alibaba Cloud, the digital tech and intelligence backbone of Alibaba Group, and Payments Network Malaysia Sdn Bhd (PayNet), Malaysia’s national payment network, to launch PayNet Fintech Hub.
As a Cloud Partner, Alibaba Cloud and PayNet are launching Malaysia’s first dedicated fintech-focused community and accelerator. Spearheaded by PayNet, the PayNet Fintech Hub will catalyse the fintech sector in Malaysia by offering startups access to capital, industry networks, financial incentives, and global expertise.
“Having Alibaba Cloud as a Cloud Partner for the PayNet Fintech Hub empowers participating Malaysian fintechs with access to world-class tools, technical expertise and global exposure,” said Gary Yeoh, PayNet’s chief marketing officer. “This partnership will help accelerate the growth of Malaysia’s fintech ecosystem, creating new opportunities for startups to innovate and scale faster and smarter, as well as compete on a global level.”
Alibaba Cloud’s role in advancing the ecosystem
Alibaba Cloud will support the Hub by empowering the next generation of fintech players in the Malaysian market. Startups and Fintech Hub community members will have access to the Alibaba Cloud Startup Catalyst Programme to enjoy benefits, including:
- Up to USD 120,000 in cloud credits and three months of Global Technical Support for the price of one month.
- 12-month Alibaba Cloud Academy Membership and access to the AI Alliance Community.
- Invitations to strategic ecosystem events, including global startup showcases and investor engagements hosted by Alibaba Cloud.
Commenting on this, Kun Huang, general manager of Malaysia, Alibaba Cloud Intelligence, said: “Malaysia’s fintech ecosystem is expanding rapidly, and we are excited to support this growth by equipping startups with the cloud infrastructure, AI tools, and global connectivity they need to scale.
“Through our advanced cloud infrastructure and AI capabilities, we are committed to shaping the future of intelligent fintech in Malaysia.”
Source: https://thefintechtimes.com/
