This interview is part of a series of interviews featuring key Fintech influencers in Southeast Asia. Following up on our first edition published last year, LATTICE80 presents the complete list of Top 100 SEA Fintech Influencers 2019 who are charting the path for Fintech in the region for 2019.
Disclaimer: The interviews are published on a rolling basis and the order by which they are published by no means representative of any rankings.
1. Tell us about what you do
Ever since stepping down as the Group CEO of Soft Space, I have been focusing on my new venture which is DAX Venture. We have recently raised RM 5 million seed funding (https://fintechnews.my/20551/proptech/dax-ventures-funding/) and our mission to simplify home renting, buying, and selling by leveraging proptech, insurtech, fintech and legaltech.
2. Why is your project / start-up / role so important in addressing a need in the community, or in advancing the development of Fintech in the region?
Home ownership is a global issue in all developing countries whereby it has a direct impact to the economy and social development of the nation, and by addressing the complexity and removing the friction in the process fintech plays a very important role in ensuring the transaction can be done efficiently.
3. In your opinion, what are the key challenges facing Fintech development and adoption in Southeast Asia? What are some new challenges you expect to see going forward?
In the early days, regulations were one of the main key obstacles in my opinion. The openness of financial institutions to embrace fintech was also one of them. However, we’ve come a long way ever since. Regulators are catching up and we’ve seen various innovations happening through partnerships between financial institutions and fintechs companies, and even the rise of neo banks challengers.
Moving forward, I believe there will be consolidation/converging happening within the scene whereby we will observe key players accelerating their adoption and rollout of digital services through collaborations and also more upcoming innovations within the scene.
I also believe that fintech will also be integrated into other vertical industries such as proptech, legaltech, insurtech, medtech etc etc resulting in an integrated super ecosystem catering to their respective industries. DAX Venture is a very good example of one whereby it it contains multiple elements of different tech in one.
4. How do you expect the Fintech landscape in Southeast Asia to change in the next 5 years?
With the progressing steps made by the regulators, I have a very positive outlook on the landscape and I expect more digital services being introduced within the region.
5. What advice do you have for budding Fintech entrepreneurs in Southeast Asia?
Keep up the good work and stay hungry!