Naysan Munusamy On Why FinTech Is Giving People More Financial Control

By Tien Chew

The Generation T 2018 lister and co-founder of MoneyMatch gives us insight on how his company is helping others through the use of financial technology.

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Above  Photo: Courtesy of MoneyMatch

Although relatively young, MoneyMatch is growing at a steady pace, in no small part thanks to the growing number of users who utilise the service to save money. But what exactly does the company do?

They're in the business of helping people transfer money across borders securely at a rate and fee cheaper than those of traditional banks.

Naysan Munusamy, a Generation T 2018 lister and the co-founder of the company, explains that his fintech (financial technology) company has proven to be a disruptive force in the money transfer game.

"From a social or industry perspective, we’ve been one of the earliest purveyors of the fintech movement here in Malaysia. From an economical perspective, we officially launched only recently in November 2017 and since then have already transfered RM 200 million to 50 plus countries, making us the fastest-growing, award-winning, regulator-approved, fully-digital, transactional fintech company in the country," says Naysan.

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Above  Photo: Shaffiq Farhan/Malaysia Tatler

Just exactly how does a fintech service like MoneyMatch help you?

"On average we save our customers around 0.5 per cent to 1.0 per cent (depending on the currency) when they transact via us, which means we have literally helped to “legitimately rob” the banks in Malaysia of profits over MYR 500,000 and put those savings straight back to the rakyat," explains Naysan.

For those looking to save more and have better control of their, services like MoneyMatch utilise a combination of ingenuity of the financial sector and the advancements in tech to provide better services that disrupt traditional services that revolve around either saving money or investing it.


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Above  Photo: Courtesy of Pixabay

Not just growing in Malaysia, MoneyMatch is already scaling their business, expanding to countries like Australia and Hong Kong with their sights set on London and Europe as well.

Naysan's secret to success? Accountability.

"Regardless which profession you’re in or if you’re leading a team or running a business, professional accountability is an extremely important trait. I expect the highest levels of responsibility and accountability amongst all my staff and that to me is the foundation of professional success," he says.

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