FINTECH DEVELOPMENT: INTERNATIONAL EXPERIENCES AND LESSONS FOR MALAYSIA

The rapid evolution of financial technology (Fintech) highlights its potential as a highly attractive sector for investors and a key driver toward achieving financial inclusion in countries like Vietnam. Despite its promise, the sector faces significant challenges, including regulatory frameworks, access to capital, market readiness, and customer engagement strategies. The aim of this article is to explore how international Fintech experiences can provide strategic insights for developing a resilient and inclusive financial technology ecosystem in Malaysia. The study employs a qualitative comparative methodology combined with strategic policy analysis, emphasizing the translation of global models into locally appropriate recommendations. These include enhancing legal and regulatory frameworks, fostering institutional and governmental support for startups, attracting global investment capital, and cultivating human capital tailored to the demands of a digital finance economy. This paper examines the Fintech development experiences of China, the United Kingdom, Japan, and Singapore, aiming to draw practical lessons for emerging economies such as Vietnam and, by extension, Malaysia. Based on these international insights, the study proposes four key policy directions to foster Fintech development: (i) enhancing the legal and regulatory framework while continuously optimizing the policy environment; (ii) strengthening support for Fintech companies; (iii) attracting global investors; and (iv) prioritizing the development of human capital for tech-based financial services. These recommendations provide a foundation for policymakers and stakeholders to develop a robust Fintech ecosystem in Malaysia. The practical value of the research lies in its strategic alignment of international innovation models with Malaysia’s national priorities, enabling policymakers and stakeholders to design forward-looking frameworks that support inclusive growth, cross-border collaboration, and digital economic resilience.