31/03/2025

BANKING & INSURANCE 12 MONDAY | MAR 31, 2025

Mastercard champions digital, financial inclusion

AmBank commits RM3m to support 42 Malaysia’s tech talent mission PETALING JAYA: 42 Malaysia, the country’s first free computer science school under the auspices of Sunway Group, and AmBank Group have entered into a strategic partnership committed to making free technology education more accessible to all. AmBank Group is committing RM3 million over the next three years to support 42 Malaysia’s mission of developing industry-ready talent equipped to drive the growing digital economy, while strengthening Malaysia’s tech talent pipeline. The cross-sector collaboration of industry and academia will ensure that students not only gain technical expertise but also have direct pathways to employment as AmBank will play an active role in bridging education and industry needs by offering career opportunities and engaging in industry-relevant projects. 42 Malaysia will also serve as a research and development hub, allowing students to work on real-world industry problem statements and gain invaluable hands-on experience through hackathons and innovation workshops. AmBank Group CEO Jamie Ling said they are proud to be a sponsor of 42 Malaysia and to facilitate the opportunities for individuals from diverse backgrounds to acquire essential digital skills. “As a company that is transforming through technology and data analytics, AmBank recognises the importance of nurturing a workforce that is proficient in digital competencies and to be able to apply such skills to drive innovation and problem solving,” he added. CEO of 42 Malaysia Jeff Sandhu said, “At 42 Malaysia and Sunway, we believe that strong partnerships are the cornerstone of growth and success, enabling sustainable nation-building. 42 Malaysia is proud to collaborate with a forward-thinking institution such as AmBank Group to expand opportunities for aspiring tech talents throughout the nation.” “Quality education and talent development are key drivers of Malaysia’s digital future growth and innovation. As we move closer to achieving 42 Malaysia’s goal of developing 10,000 tech talents, we eagerly welcome more industry players to work with us in expanding oppor tunities and shaping the future of tech edu cation in Malaysia,” he added. 42 Malaysia is part of the global network of coding schools that is redefining tech education through its peer-learning, project-based, and gamified model. Open to anyone aged 17 and above, regardless of academic background or prior coding experience, the programme re moves traditional barriers to education by charging no fees. With a strong emphasis on problem-solving and real-world applications, 42 Malaysia is playing a key role in upskilling talent to meet the demands of Malaysia’s growing digital landscape. Unlike traditional models, students of 42 Malaysia learn through hands-on projects that equip them with the technical expertise needed to tackle real-world challenges – whether it is optimising network security, building scalable web applications, or developing artificial intelligence-driven solutions. For instance, in exploring AI and machine learning, students develop a brain-computer interface using EEG data to interpret neural activity, developing skills that align with the demands of assistive healthcare technology and neurorehabilitation. These rigorous and industry-relevant projects prepare them for in demand roles across the tech industry. Since the launch of 42 Kuala Lumpur in 2020, 42 Malaysia has provided more than 1,200 students with the opportunity to upskill and transition into tech careers.

PETALING JAYA: Mastercard is strengthening Malaysia’s position as a digital economy leader by expanding financial inclusion through initiatives that empower small busi nesses, women entrepreneurs and under served communities. Mastercard Malaysia and Brunei country manager Beena Pothen said programmes such as “Strive Malaysia” and “Mastercard Pay Local” are enabling micro, small and medium enterprises to integrate into the digital economy, while advancements in digital banking and open data are improving access to financial services across the country. “A key component of this strategy is the Strivers’ Hub, launched in partnership with The Asia Foundation to provide women-led businesses with digital upskilling, mentorship and financial access. “Many women entrepreneurs in Malaysia face challenges such as limited access to capital and digital tools, with studies showing that only 60% use digital solutions in their operations. Since its launch, Strivers’ Hub has attracted nearly 6,000 active users, demon-strating strong demand for support in navigating the digital landscape,” she told SunBiz . Beyond women entrepreneurs, Beena noted that Mastercard’s efforts also target small businesses, which are crucial to Malaysia’s economic growth. “Many MSMEs struggle with financing due to a lack of formal credit histories or collateral. Digital banking and open data are helping bridge this gap by enabling lenders to assess creditworthiness using alternative data, such as transaction patterns and payment be haviour. “Mastercard’s partnerships with financial institutions and fintech firms are making it o Initiatives to empower micro, small and medium enterprises, women entrepreneurs and underserved communities Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com

Beena says security remains a priority as Malaysia moves toward a fully digital economy.

Malaysia aims to enhance the country’s appeal as a digital-first travel destination through initiatives like the upcoming Travel Malaysia app, which will provide personalised travel content, cashless payment options, and exclusive offers for visitors. “We are also digitising essential services with Mastercard Bill Pay, a platform that allows users to manage and pay bills digitally, reducing reliance on cash,” she said. To further drive digital transformation, Beena said, Mastercard is supporting Malay sia’s digital banking sector. “We played a critical role in the launch of GXBank, Malaysia’s first digital bank, by providing access to its global payments net work and advanced financial infrastructure. This collaboration is expected to expand financial access to underserved communities, ensuring that more Malaysians benefit from digital banking services,” she added. As Malaysia accelerates its transition into a cashless and digitally inclusive economy, she emphasised that Mastercard’s initiatives are playing a role in shaping the country’s financial landscape. “By investing in financial inclusion, digital payments, and cybersecurity, Mastercard is not only supporting local businesses and entrepreneurs but also positioning Malaysia as a regional leader in digital commerce and innovation,” Beena said.

easier for small businesses to secure funding and access tailored financial services,” she said. Mastercard is also advancing cashless payment solutions, ensuring that businesses of all sizes can participate in the digital economy, Beena said. Mastercard Pay Local allows consumers to link their cards to local digital wallets, such as Touch ’n Go in Malaysia and Dana in Indo nesia, enabling seamless transactions across the region. “This is particularly beneficial for small merchants, who can now accept digital payments from international tourists without needing additional infrastructure, expanding their revenue potential,” Beena said. She said security remains a priority as Malaysia moves toward a fully digital economy, as Mastercard is investing in cyber-security innovations such as artificial intelligence-driven fraud detection, tokenisation and behavioral analytics to safeguard digital transactions. “These measures not only protect busi nesses and consumers from cyber threats but also help build trust in digital payments, ac celerating their adoption across the country,” Beena said. Additionally, she pointed out, Mastercard’s initiatives align with Malaysia’s broader economic vision, particularly in tourism and digital commerce. “A recent partnership with Tourism

OCBC unveils PartnerCare to help property agents own homes PETALING JAYA: OCBC Bank (Malaysia) Bhd has launched OCBC PartnerCare, the country’s first programme that offers exclusive privileges and support to property agents working with the bank, including a smoother journey towards home ownership for them. out on the benefits and privileges that full time employees enjoy. OCBC PartnerCare is designed to bridge this gap, offering com prehensive benefits tailored to their needs,” he said. insurance coverage and professional image upgrades. Commenting on the setting up of OCBC PartnerCare, PropNex Malaysia CEO Marcus Teng said the programme is well curated to support the industry.

Through OCBC PartnerCare, agents enjoy a suite of exclusive privileges that provide greater financial flexibility as part of the bank’s commitment to promoting personal wellness and empowering its partners. The programme is expected to see the number of property agents partnering with the bank double this year. Sammeer said homeownership is a key life goal for many and property agents play a crucial role in guiding individuals through this journey. Being key partners who work closely with their mortgage specialists to provide home financing solutions, it is only fitting that they support their aspirations. For top-performing agents, the programme delivers more personalised care through

“It is clear that OCBC Bank cherishes its partnership with property agents, recognising the value we add by referring clients to the bank. With OCBC PartnerCare, agents can now enjoy a range of benefits. This programme will be especially beneficial to agents who are new to this fast-paced industry and therefore need the extra support,” he said. Chester Group chairman Datuk Howard Chew said he is excited about what the pro gramme will bring to the table for the agents working in his team. “We expect the programme to make a significant difference to agents and spur them to greater heights,” he added.

OCBC Bank head of consumer financial services Sammeer Sharma said the strategic initiative underscores the bank’s commitment to excellence in the mortgage market while strengthening its partnership with property agents, which is integral to its home financing efforts. “The programme aims to benefit the bank’s core home financing partners – property agents. Through OCBC PartnerCare, we are bringing holistic support that goes well beyond monetary incentives by offering benefits that empower these agents both professionally and personally. We hope to create exceptional value through their collaboration with us. “Self-employed property agents often miss

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