SC approves two new robo-advisers

At the SCxSC FinTech Conference 2019 yesterday, SC executive chairman Datuk Syed Zaid Albar (pic) said both robo-advisory platforms are expected to be fully operational in early 2020.

KUALA LUMPUR: Malaysia’s fintech scene has hit the next level after the Securities Commission (SC) gave its approval-in-principle to two more robo-advisers and a full approval for the country’s first cryptocurrency exchange.

Following the recent approval for Wahed – the first halal robo-adviser in Malaysia – the SC said it has approved in principle two robo-advisory platforms, Raiz and Robo Wealth, to commercially roll out their services in Malaysia.