Initially a platform engaged in underwriting services and lending, MoneyLion has since pivoted to helping consumers better manage their finances and build wealth. Its co-founder and chief technology officer Foong Chee Mun spearheaded MoneyLion’s transformation into a full-service digital platform that delivers mobile banking, investment and personalised solutions to the American market, powered by artificial intelligence, machine-learning technology and behavioural science. He runs the platform’s technology and artificial-intelligence hub, which are based in Malaysia.

In 2020, MoneyLion listed on the New York Stock Exchange (NYSE), and Foong became the first Malaysian fintech founder to be on the NYSE. He was named one of the top 25 fintech chief technology officers of 2020 by the Financial Technology Report.

In May 2022, MoneyLion was awarded a digital bank license in Malaysia. This was done under a consortium with Japan-based financial group, Aeon Financial Service. The license will give the consortium the ability to create a digital bank that will offer services to promote financial inclusion to customers in Malaysia.