Business report on Money Match Malaysia

1. Business Report on MoneyMatch
Malaysia

2. Table of Contents
Execution Summary:.....................................................................................................................................3
Introduction:..................................................................................................................................................3
Discussion:....................................................................................................................................................4
Company’s core offerings/products/services............................................................................................4
Emerging technologies that the company relies on...................................................................................4
Ways the company apply emerging technologies along with technological barriers ...............................5
Company’s target market..........................................................................................................................6
Company’s main advantages and ways the company compete with incumbents and other new entrants 6
Ways by which the company is currently regulated by the related authorities.........................................7
Key business risks of this company and a response provided by the company to the risks .....................7
Impact of the Covid-19 pandemic on the Growth of the Company..........................................................8
Conclusion: ...................................................................................................................................................8
References...................................................................................................................................................10

3. Execution Summary:
The FinTech organization selected for the preparation of business reports is MoneyMatch which
is present in Malaysia. A detailed analysis related to the core offerings provided by the company
is provided in this report. The usage of emerging technologies that the company is relying on is
analyzed in this study. Apart from this, the technological barriers, consumer target market, along
with the company's main advantages are provided which help to focus on competing with the
company successfully. It also helps to strengthen the current regulation of the related authorities
successfully. The key business risks of this company are provided which helps to strengthen the
processes along with reflecting the Covid-19 pandemic affect determination of the growth of this
company. A detailed analysis of these components is provided in this report.
Introduction:
MoneyMatch is a multinational financial technology firm which is focusing on international
payments processes. It showcases an award-winning platform which is eventually focusing on
the development of transactions along with focusing on the coverage of cross-border trade
payments. The company accomplished rapid success with the help of optimizing the treasury
operations along with focusing on the development of treasury operations with the integration of
blockchain technology. The expansion of the business in the global market is carried out that
helps to focus on expanding the business environment successfully. It includes the expansion of
the operations present in three countries. It has executed more than 2.5 billion MYR in
transactions. It is regulated by Bank Negara Malaysia which helps to approve the participation
processes along with strengthening the Financial Technology Regulatory Sandbox. The
regulations were carried out by the AUSTRAC in the form of a Remittance Network Provider
and also as an Independent Remittance Dealer. It also has its registration number which is found
to be about 100585019-001. The report aims to analyze the business environment of the chosen
company MoneyMatch as well as help to analyze the main facets present in the startup company
MoneyMatch founded in the year 2015.

4. Discussion:
Company’s core offerings/products/services
The core offerings provided by the company MoneyMatch includes the payment services that are
provided to the customers in the form of a mobile application. The execution of eKYC processes
is initially required to be carried out by the customers so that they can make their transactions
easily and more safely. The services related to cross-border remittances and transactions are
provided to the customers that enable them to accomplish a superior environment for the
organization (Jayalath& Premaratne, 2021). As a result of this, they are focusing on processing
the transaction processes along with reflecting on providing superior exchange rates to the
customers rather than the incumbent banks. The foreign exchange processes can be easily carried
out on mobile applications as well as individuals can collect and transfer foreign currencies at
their convenient locations. Due to this reason, it showcases a novel FinTech application which is
evident to be a hit in the Malaysian market. They are also offering businesses to work in the form
of partnerships. This enables them to strengthen the placement of services successfully among
the customers (Rupeika-Apoga& Wendt, 2022).
Emerging technologies that the company relies on
The emerging technologies that the company is relying on are evident to be integrating artificial
intelligence, machine learning, and digital transferring along with integrating the cryptocurrency
processes. The commercial existing technologies help to focus on executing commercial banking
practices. The integration of digital technologies helps to strengthen the execution of the banking
system along with integrating the adaptation and the adjustment as per the data gathered from the
customers. The maintenance of the safety related to online transactions is evident to be
strengthened so that the organization can easily able to attract customers. The online banking
facilities can be appropriately promoted which helps to strengthen the application development
environment suitably. The online payments and the contribution made towards the transactions
are significantly boosted which helps to strengthen the generation of the jobs successfully (Tepe
et al., 2021). Thus, it is playing an essential role in the development of the applications as well as
enabling the individual to focus on identifying the needs suitably for the mitigation of the issues.
The integration of artificial intelligence, machine learning, and digital transferring processes
should be successfully helping in accomplishing the needs suitably by the integration of online

5. machine learning processes. The adoption of technologies enables the integration of blockchain
and artificial intelligence suitably for meeting the needs successfully. As a result of this, the
expansion of the online lending processes can be carried out by the organization MoneyMatch to
integrate the needs of the individuals. The establishment of the physical interactions and the
regulatory environment is maintained with the help of integrating digital technologies. Thus, it
creates the capability for MoneyMatch to strengthen the consumers digitally and also helps to
strengthen the delivery of services successfully. It also helps to expand the company with the
help of establishing the domination of the activities suitably by transforming the digital trends
(Bhasin & Rajesh, 2021).
Ways the company apply emerging technologies along with technological barriers
The company can implement emerging technologies such as artificial intelligence and machine
learning to remove transaction issues and validate the investment for the customers. The
transactions issues are removed with the help of providing a tech-friendly platform to the users
which enables them to execute their transactions securely. The validation of investment is
determined by the help of creating a convincing environment to remove the uncomfortable
environment faced by IT professionals. The emerging technologies are providing support to
MoneyMatch’s IT professionals to remove the issues related to application development. As a
result of this, it showcases the capability to strengthen the executive decision-making processes
and also helps to strengthen the successful business environment (Varma et al., 2022). Apart
from this, the issues related to lack of user buy-ins are removed as it showcases the capability to
strengthen the business environment. It also helps to facilitate the company related to the
execution of an appropriate project of building the application and helps to strengthen the
functionality of the business. The valuable environment is evident to be present that helps to
enhance the interest of the customers and also creates an attractive environment for them. The
removal of digital disruption concerns related to the technologies is evident helps to remove the
implementation of business technology and creates a challenging environment (Zaghlol, 2021). It
also includes the consideration of the suitable risk of losing the custom environment along with
upsetting the existing clients and additional work for the staff. The training issues are also
mitigated by the integration of technologies which helps to provide support to strengthen
technological usage appropriately. The customization of training processes will help to focus on

6. determining the needs by the help of integrating the learning types and also deliver values
successfully to the customers (Sharma et al., 2023).
Company’s target market
The target market of the company is the Malaysian market as it aims to expand its business in
Malaysia. Apart from this, worldwide consumers are evident to be targeted so that they can place
the products and services successfully. As a result of this, it helps to strengthen the delivery of
services along with reflecting on the identification of the needs of the customers. MoneyMatch is
also seeking the attention of financial organizations and banking institutions so that they can
jointly promote the organization to establish a consumer-friendly environment. Thus, it plays a
vital role in the accomplishment of the needs of the customers appropriately (Jameaba, 2023).
Company’s main advantages and ways the company compete with incumbents and other
new entrants
MoneyMatch can be said as one of the most significant Fintech Companies in the Asia Pacific
region. The main advantage of the organization is its commitment towards technological
innovation. The organization is committed to adapting significant technologies at regular
intervals. The main unreason is that this type of activity can help the organization to be
competitive in the market for long-term purposes. Moreover, the main focus of the organization
is to enhance the experiences of the customers. it cannot be denied that by satisfying the needs of
the customers, the organization can be able to maintain operational activities very
successfully(Pham et al., 2022). The customer-centric approach of the organization can help the
entity to promote sustainable processes. If the organization will be able to enhance the customer
base significantly, then the entity can be able to achieve sustainability.MoneyMatch is also very
much focused to satisfy the requirements of the customers. The continuous innovation process
has been prioritized by the organization and due to this reason, the entity has been able to gain
useful results. The organization has also maintained cross-border operations to achieve success.
This type of activity can also help the entity to create an effective brand image in front of
potential customers. So, the organizational plan is clear that attracting the attention of potential
customers is the main activity. The management team is very much focused to create a
significant environment for the customers. One of the most significant customer bases of the

7. organization is the SMEs(Nozlan, 2020). So, these are some significant advantages for the entity
through which the business operations have been maintained.
Ways by which the company is currently regulated by the related authorities
The organization has to consider different regulations as the entity operates its operational
activities successfully in Malaysia as well as Australia also. The organization is regulated by the
Money Service Business division of the Central Bank of Malaysia. In this case, the entity is
committed to meeting the expectations of the governmental bodies. Moreover, the Central Bank
of Malaysia has the authority to monitor the performance of the MoneyMatch. Moreover, the
Central Bank of Malaysia also has to evaluate whether ethical business practices have been
prioritized by MoneyMatch or not. The organization is also regulated by AUSTRAC as both a
Remittance Network Provider and Independent Remittance Dealer. So, the organization has to be
very much attentive towards the vital rules and regulations of the governmental bodies(Mustafa
et al., 2020).
Key business risks of this company and a response provided by the company to the risks
Business risks can create significant problems for the fintech businesses and in this case, many
types of risks can be seen. One of the most significant risk factors is associated with the
unforeseen market. In this case, a new organization may not see the insights of the potential
impact on the business. This type of risk can be significantly mitigated by considering a strong
strategy. Moreover, alternative plans should be prepared by the entity before starting the fintech
business(Irum Saba et al., 2019). MoneyMatch has entered the market with effective strategies
and due to this reason, the entity not only survives in the initial stage but also creates a
significant impact on the customer's preferences. Customer support teams are playing the main
role to enhance the experiences of the customers. Another significant business risk is associated
with regulatory requirements. These requirements can change from time to time and due to this
reason, a new fintech organization can face massive challenges to adapt to the current
regulations.MoneyMatch is regulated by the Central Bank of Malaysia and operates the business
activities as per the guidance. The organization has aligned the relevant regulations and other
legal frameworks to maintain the operational activities successfully(Alam, 2021).
Data theft and cyber-attack can be said as one of the most significant risks for the fintech
organization. In this case, the overall business operations of the fintech organizations can be

8. negatively impacted. MoneyMatch is very much focused to manage data theft-associated issues
and due to this reason, the organization does not face significant challenges with the data
management process. The continuous improvement approach has been prioritized by the
organization and this type of activity helps the organization to continue the operational activities
successfully. The cyber security team of MoneyMatch is considered effective in monitoring and
controlling the entire data management process which can assure them about data safety. So,
through this way, the risk associated aspects will be minimized by the organization if certain
situation will come(Khalid &Kunhibava, 2020).
Impact of the Covid-19 pandemic on the Growth of the Company
The Covid-19 pandemic had created positive and negative impacts on MoneyMatch as it is a
fintech business. The increased demand for digital services had helped the organization to
enhance its overall profits and customer base. Digital financial services had been prioritized by
most of the population due to the emergence of the Covid-19 pandemic. The demand for Digital
payment services increased significantly during that period. So, the organization utilized the
opportunities and creates a significant impact on the customers’ preferences. However, many
things had not gone in the right way and the entity faced massive challenges due to those reasons
(Tripalupi&Anggahegari, 2020). Economic uncertainty issues had emerged as a major threat due
to the outbreak of the Covid-19 pandemic. Regulatory changes and other governmental activities
also created a massive impact on the operational activities of the entity. Due to these restrictions,
the business entity had to change its existing strategies. If an organization will change its current
policies due to some pandemic, then it can create a negative impact on the current business
organization. Funding challenges issues had been raised as one of the most crucial activities for
the organization. However, it cannot be denied that MoneyMatch had break the barriers of
uncertainties and continued its operational activities successfully in the post-pandemic
period(Tat Huei et al., 2018).
Conclusion:
MoneyMatch is a renowned Fin Tech startup that operates business activities since 2015. Cross-
border payment and remittance business have been practised by the organization and the main
aim is to meet the expectations of potential customers. The main customer base of the

9. organization is the SMEs and, in this case, the entity is very much focused to meet the suitable
needs of the SMEs. The operational activities of the organization have been regulated by the
Central Bank of Malaysia. The organization is very much committed to fulfilling the
requirements of the potential customers and due to this reason, the entity is involved in
technological solutions. The continuous improvement approach has been prioritized by the
organization which can help the organization to achieve long-term sustainability. The Covid-19
pandemic had created massive challenges for the organization but the entity had been able to
improve its customer base due to the higher demand for digital solutions. The changing
regulatory frameworks interrupted the operational activities of the organization. However, in the
post covid-19 era, the organization is operating its business activities very successfully.

10. References
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