New FINEXUS platform to boost momentum of startups
Leading innovation: Loh speaking at the Malaysia Digital SME Digitalisation Initiatives Event at Finexus MyXaaS Innovation Centre, Cyberjaya. — YAP CHEE HONG/The Star
CYBERJAYA: With the government pushing for more startups as part of its Asean Startup Year 2025, local technology company Finexus Group is hoping to give back to the nation by providing the necessary support through its new platform.
With the MyXaaS Innovation Platform, startup entrepreneurs will be provided access to tried and tested Application Programming Interface (API) and Software Development Kit (SDK) while riding on Finexus' infrastructure, licences and technical expertise.
Startups will first undergo an assessment to understand their product and idea, according to Finexus Strategy and Transformation Group director Jo-Anne Loh.
She explained that this data is transformed into actionable insights, guiding the startup from concept to launch – covering everything from software design and API integration to testing, regulatory approvals and launch.
This accelerates the path to market while cutting costs and saving time.
'Clients can choose to develop their product by integrating with our platform of services as our experienced team of engineers and product managers provide guidance and consultancy where needed.
'Finexus offers a ready-to-use payment solution platform equipped with APIs and SDKs, enabling startups to accelerate their launch timelines.
'This allows startups to build and scale their solutions efficiently without the need to develop the infrastructure from scratch,' she said in her speech at the Malaysia Digital Economy Corporation SME Digitalisation Initiatives event at the MyXaaS Innovation Centre here on Wednesday.
She said many startups do not realise they may be non-compliant when they build fintech applications, only to later run into trouble when questioned by authorities.
With the MyXaaS Innovation Platform, she said these concerns can be easily mitigated through their attested infrastructure, which is PCI DSS compliant, RMiT compliant, ISO 27001 certified and Tier III Design certified by Uptime Institute.
In addition, the platform provides dedicated support teams to assist startups navigate regulatory requirements, ensuring compliance with industry standards and enabling them to operate with confidence.
'We guide startups to build licensed e-wallets with card issuance, electronic Know-Your-Customer (eKYC) and DuitNow services, while also enabling them to accept major payments (methods) like DuitNow, Mastercard, Visa and Alipay with competitive merchant discount rates.
'This will enable startups to focus on their core business model and scale,' she said.
Loh added that startups will be provided with co-working spaces, meeting rooms, gym and prayer rooms as well as free-flow food and drinks at the MyXaaS Innovation Centre here.
She added that free shuttle services would also be provided from the Cyberjaya MRT station to the Innovation Centre and back multiple times a day.
'Finexus Group's roots are in entrepreneurship, so the Madani Economy's national agenda of propelling Malaysia into the ranks of the world's top 30 largest economy and top 12 in the Global Competitiveness Index resonates with us.
'We are also spearheading the group's transition into the era of artificial intelligence to solve longstanding inefficiencies and pain points in the financial services industry such as overly manual work and fraud detection.'
Loh added that they are targeting to have more than 100 startups join the MyXaaS Innovation Platform by the end of this year.
Startups interested in using Finexus Group's services can call their headquarters at 03-4051 9900 or visit https://myxaas-innovations.ai/.
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