{"id":12852,"date":"2019-05-28T06:36:46","date_gmt":"2019-05-28T06:36:46","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=12852"},"modified":"2019-05-28T06:36:46","modified_gmt":"2019-05-28T06:36:46","slug":"new-open-api-to-usher-malaysian-fintech-into-a-new-era","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/new-open-api-to-usher-malaysian-fintech-into-a-new-era\/","title":{"rendered":"New open API to usher Malaysian FinTech into a new era"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Bank Negara Malaysia has released a proposed guideline for open APIs in Malaysia and is currently seeking feedback from the public. Three areas of focus for the open APIs have been established as: automobile insurance, credit cards and SME financing. The main goals of this initiative are to improve access to finance (especially for SMEs), liberalize automobile insurance and equalize the playing field for FinTech companies to push innovation into the financial sector.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The introduction of open APIs would help break banks\u2019 monopoly on consumer data and give more power to consumers to decide what services they find valuable. While some experts are concerned that such a move will severely hinder banks and their ability to effectively work with consumers, others believe this could lead to a new era of innovation in Malaysia\u2019s financial sector.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-12852 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='The state of small business lending in Russia'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-state-of-small-business-lending-in-russia\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/the-state-of-small-business-lending-in-russia-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-13262\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13262'>\n\t\t\t\tThe state of small business lending in Russia\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: how Israel is ruling the cybersecurity world'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-how-israel-is-ruling-the-cybersecurity-world\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/10\/How-Israel-Rules-The-World-Of-Cyber-Security-VICE-on-HBO-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-11156\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11156'>\n\t\t\t\tVideo: how Israel is ruling the cybersecurity world\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Startups and London in the wake of Brexit'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/startups-and-london-in-the-wake-of-brexit\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/startups-and-london-in-the-wake-of-brexit-e1549898335319-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-12254\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12254'>\n\t\t\t\tStartups and London in the wake of Brexit\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Bank Negara Malaysia has released a proposed guideline for open APIs in Malaysia and is currently seeking feedback from the public. Three areas of focus for the open APIs have been established as: automobile insurance, credit cards and SME financing. The main goals of this initiative are to improve access to finance (especially for SMEs), &hellip;<\/p>\n","protected":false},"author":5,"featured_media":12885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,435],"tags":[287,75,141,335],"class_list":["post-12852","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-fintech","category-malaysia","tag-open-banking","tag-regulation","tag-sme","tag-startups","b_post_type-the-fintech-world"],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=12852"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12852\/revisions"}],"predecessor-version":[{"id":12853,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12852\/revisions\/12853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/12885"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=12852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=12852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=12852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}