UNCDF, Bank Negara Malaysia, and MDEC Launch Inclusive Fintech Accelerator

The United Nations Capital Development Fund (UNCDF), Bank Negara Malaysia (BNM), and Malaysia Digital Economy Corporation (MDEC) launched a Digital Financial Innovation Hub called the Inclusive Fintech Accelerator Program in 2018. The program was designed to support fintech startups in developing inclusive finance solutions targeting underserved populations. Focus areas included spending, saving, and borrowing products that could reach financially excluded segments.

The initiative represents a public-private partnership model where a central bank, a government digital economy body, and an international development organization collaborate to foster fintech innovation. By providing structured support and regulatory guidance, the accelerator aimed to enable fintechs to build solutions that could integrate with existing banking infrastructure. The program highlighted the growing trend of regulators actively facilitating fintech-bank collaboration to advance financial inclusion goals in the APAC region.