How the MoneyLion app will transform personal finance in Malaysia
MoneyLion, a mobile personal finance app that helps users improve their financial health, will be launching in Malaysia for the first time.
MoneyLion’s free mobile app will help Malaysian users obtain a 360-degree view of their finances using a range of analytics tools that track spending and saving activity across multiple bank accounts.
MoneyLion currently only operates in the United States – its expansion into Malaysia marks its first step as part of its international growth strategy.
“We are committed to bringing next-generation personal finance tools to Malaysia and the ASEAN markets”
“We are committed to bringing next-generation personal finance tools to Malaysia and the ASEAN markets,” said Diwakar Choubey, founder and CEO of MoneyLion, “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.”
MoneyLion chose to base its technology hub in Kuala Lumpur, a city that has a growing fintech industry. 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,” he said.