Taking money services business to greater heights

  • SMEBiz
  • Thursday, 07 Sep 2017

Chew (fifth from left) accompanied by MDEC Enterprise Development vice-president Gopi Ganesalingam (on Chew

THE Malaysian Association of Money Services Business (MAMSB) supported by the Malaysia Digital Economy Corporation (MDEC), hosted a two-day Money Services Business Asia Pacific Conference 2017 (MAPC 2017) at Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur.

The MAPC 2017 is the largest money services business (MSB) industry conference in the region.

The event was officiated by Bank Negara assistant governor Jessica Chew Cheng Lian.

The theme was “Harnessing Innovation for the Sustainability of the Money Services Business Industry”.

The conference this year saw 420 professionals from 23 countries comprising currency exchange and remittance industry players, regulators, technology companies, banks, inter-governmental agencies, merchant service providers, telecommunication providers, mobile money service providers, as well as complementary service providers to the MSB industry such as legal, compliance, audit and security from the Asia-Pacific region.

Speaking at the press conference, MAMSB president Ramasamy K. Veeran said, “MAPC 2017 is the third conference organised by MAMSB since its inception in January 2014.

“The conference aims to highlight current issues while challenging delegates to immerse, adapt, challenge norms, engage and share their views in an effort to unleash new opportunities and take the MSB industry to greater heights.”

The MAPC 2017 provided a platform for industry professionals to discuss various innovative solutions and technological advancements in the industry.

The plenary sessions also deliberated on latest insights in the developments and trends of the global currency exchange and remittance marketplace.

They also looked at the developmental impact of this industry in the Asia-Pacific region and delved into new MSB products, rise of FinTech and RegTech, financial inclusion initiatives, wallet, e-payment, cryptocurrency, bitcoin and blockchain.

A host of exciting sessions with over 40 high-level speakers were lined up for the conference including International Association of Money Transfer Networks chairman Mohit Davar; CIMB Group Global Retail Payments head Naushad Hussain; World Bank senior financial sector specialist in Finance and Markets Global Practice Isaku Endo; United Nations Capital Development Fund data management specialist Robin Gravesteijn; and Axiata Digital Services Regional Digital Financial Services head Christopher Tiffin, among others.

“With participants from a wide spectrum of experiences, we envisage that this conference will provide insights on ways to nurture and harness innovation in the MSB industry as well as explore new businesses and digital strategies for future proofing the industry.

“We hope this year’s conference will break new grounds in looking at innovation for the MSB industry players in the region that will drive growth and energise the future trajectory of the industry,” added Ramasamy.

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