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/.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Star

3 hours ago

• The Star

Perak leads in domestic tourism for 2024 with 10.2 million visitors

IPOH: Perak took the top spot for the highest number of domestic tourists in 2024, says Loh Sze Yee. The state tourism committee chairman said, according to the Statistics Department, Perak welcomed 10.2 million local tourists, followed by Selangor and Pahang with 9.6 million and 9.5 million respectively last year. Loh attributed the achievement partly to the Visit Perak Year 2024 campaign. "It proves the effectiveness of the campaign and the efforts of all those involved. "The synergy and cooperation between the state and federal agencies, the industry players, and the people are key to the achievement," he said at a press conference after attending the first-ever Car Free Day programme in Kampar on Saturday (June 21). Loh said the 10.2 million domestic tourists last year represented a 36.1% increase compared to 7.5 million in 2023. He noted that in terms of domestic visitors, 21.8 million people came to Perak in 2024 compared to 17.1 million in 2023. "Domestic tourists are those who stayed at least one night in Perak, while domestic visitors also included day-trip tourists," he added. The top five districts visited included Kinta, followed by Larut and Matang, Manjung, Kuala Kangsar, and Batang Padang. "The top five destinations are Teluk Batik, Lumut Waterfront, Ipoh Night Market, Gunung Lang Recreational Park, and Pangkor Island," he said. Loh said the state hopes to maintain the momentum for next year, with it being Visit Malaysia 2026. "It's going to be a free-for-all between all states to vie for tourists," he added.

The Star

5 hours ago

• The Star

KLIA aerotrain to resume service

Loke: It will undergo several more tests before operations start on July 1 SEPANG: After a hiatus of more than two years, passengers travelling through Terminal 1 of the KL International Airport (KLIA) will only have to wait nine more days before they can use its signature aerotrain to get from the main terminal building to the satellite terminal building, and vice versa. The aerotrain replacement project, which is currently in its final testing phase, is set to begin operations on July 1. Transport Minister Anthony Loke said it will undergo several more tests over the coming days, including an emergency response plan test together with the relevant authorities. 'If everything goes well, it will begin operations at 10am on July 1,' said Loke when giving the media a preview of the aerotrain service here yesterday. He said there will be three train sets on deck, with two operating concurrently during peak hours. During off-peak hours, or between 12am and 5am, only one train will operate to allow maintenance works to be carried out. Each train has three carriages and can ferry 270 passengers at one time. Testing it out: Loke and Izani (second from left) using the aerotrain at KLIA. — YAP CHEE HONG/The Star 'With the return of the aerotrain, we hope passengers will feel more comfortable in their transit between the main terminal and satellite buildings,' Loke said, adding that the shuttle bus services that were deployed as a stop-gap measure will continue for a while even after the aerotrain resumes service. Loke also expressed hope that the aerotrain's return will improve KLIA's service and image. 'There will be more Asean meetings coming up in the next few months, with another summit to be held at the end of the year. '2026 is also a major year as we are organising Visit Malaysia 2026 and the aerotrain is a vital part of preparations here,' he said. On the series of delays in the resumption of aerotrain services, Loke said it was to ensure safety is made priority. According to Malaysia Airports Holdings Bhd (MAHB), the aerotrain has now entered its final stage of testing. This comes following the successful completion of the critical fault-free run (FFR) and final detailed inspection by the Land Public Transport Agency. Under the FFR testing, the first train was required to complete 2,000km of continuous fault-free operations, while the remaining two trains logged 1,000km each. 'This ensures all three trains are fully commissioned and that the system's built-in redundancy is in place for live operations,' it said. MAHB managing director Datuk Mohd Izani Ghani, who was also present, said the airport is now in the final stretch of preparations. 'Our volunteers are also participating in trial runs to simulate passenger movements,' he said. The aerotrain, which came under public scrutiny for frequent breakdowns, had its services suspended in March 2023. There was an episode where the train stopped midway from the main terminal building and the satellite building. A second train was deployed to retrieve the stranded passengers, but the rescue train also experienced technical difficulties, resulting in passengers having to complete the journey on foot.

The Star

8 hours ago

• The Star

Meaningful ‘pain' that must be borne

Funding the nation: Money is needed for public services, education, and healthcare reforms, while new challenges such as artificial intelligence technology and digitalisation also demand the disbursement of funds. — 123rf TAXATION in any form and name is never popular, and the expansion of the sales and service tax (SST) is no exception. It is unpopular, full stop. Nobody likes taxes but there is no such thing as looking for a better time in the future to impose the taxes for the government to increase revenue. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only Follow us on our official WhatsApp channel for breaking news alerts and key updates! Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 35 years in various capacities and roles. He is now group editorial and corporate affairs adviser to the group, after having served as group managing director/chief executive officer. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.