{"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='How the sharing economy is changing life as we know it'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/how-the-sharing-economy-is-changing-life-as-we-know-it\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/08\/crop-agent-giving-keys-to-man_23-2147694416-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10552\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10552'>\n\t\t\t\tHow the sharing economy is changing life as we know it\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Revolut plans invasion of the Russian market'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/revolut-plans-invasion-of-the-russian-market\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/revolut-plans-invasion-of-the-russian-market-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12283\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12283'>\n\t\t\t\tRevolut plans invasion of the Russian market\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Balancing data privacy rights'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/balancing-data-privacy-rights\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/10\/balancing-data-privacy-rights-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13895\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13895'>\n\t\t\t\tBalancing data privacy rights\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],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12852"}],"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}]}}