Maybank Launches the Region’s First Collaborative Fintech Sandbox

24 May 2017 – In a briefing conducted at The Co. Bangsar by Suthesh, VP Group Technology Strategy, Maybank it was announced that Maybank is currently looking for developers and fintech companies to participate in their regional collaborative sandbox dubbed the “Maybank Sandbox”.Maybank Sandbox

According to Suthesh, the Sandbox is still in its beta form and his team will endeavor to improve the platform progressively if enough interest is shown from the community.

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The key highlights of the Sandbox during the briefing are as follows:

  1. The sandbox is intended to be a platform for the community to develop and collaborate on their fintech ideas.
  2. The sandbox provides 3 months worth of masked behavioral data, Open APIs, Developer Toolkits.
  3. You can submit ideas on this platform, if the community finds the idea to be good, they can approach you to collaborate on developing that idea further.
  4. This platform is targetted at Malaysia, Cambodia, Indonesia & Philippines.
  5. The sandbox enables cross-border collaboration, as an example, Suthesh mentioned that a developer may connect with a UX/UI developer from Thailand to work on an idea together.
  6. You do not need prior approval enter the sandbox, Maybank intends to take a more laissez-faire approach rather than a big brother approach
  7. Maybank will not own the intellectual property to your code and idea developed from the platform, they will only hold the intellectual property for the platform.

To be a part of the platform you may visit the following link https://maybanksandbox.com/

This is definitely a great step forward for the fintech scene in Malaysia, we hope that with Maybank taking the charge towards Open Banking others banks in Malaysia will follow suit.

 

About the Author

Vincent Fong is the General Manager of Knowledge Group and a self-proclaimed pundit of banking technology and fintech