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Co-founder, Money Match
With increased digitalisation, nimbler fintech start-ups can go where lumbering financial giants fear to tread, due to the absence of legacy costs and issues plaguing the incumbents, thus stalling them from adopting newer technologies.
This is where Money Match, a digital platform specialising in cross-border trade payments and individual remittances, shines. Although co-founder Adrian Yap doesn’t personally enjoy being disruptive, he does “take joy in knowing that we are helping SMEs save monies which could then be properly redeployed into creating growth in the real economy as opposed to it sitting in banks’ balance sheets as profits.”
A recipient of Bank Negara Malaysia’s Class B remittance licence and supported by Cradle Fund, Money Match prides itself on being faster, cheaper and more transparent. Its total transaction volume has well exceeded RM1 billion since its inception in 2015. “When we started, we went through the painful process of building our own proprietary payment rails all across the globe, which then allowed us to enjoy pricing efficiencies and economies of scale,” Adrian says. “This also ensures that we aren’t beholden to third- party service providers such as Money Gram and Western Union, which would increase our cost base and reduce our flexibility.”
The focus for Money Match is now firmly on introducing its offering to all local SMEs,
as well as “the secondary goal to expand our regional footprint, as we already have licences in Brunei and Australia,” he says. “We are looking to obtain more licences over the next couple of years.”
Adrian is wearing the Hublot Big Bang Unico Titanium; glasses from BOSS