https://www.nst.com.my/business/20127 Apr 2019 09:05
https://www.nst.com.my/business/2019/04/481352/tfp-exploring-fintech-new-earning-stream
Its managing director Datuk Hussian A Rahman said FinTech would continue to transform the financial services sector and that society would progressively become more cashless.
“Malaysians are increasingly embracing e-payment following the greater adoption of smartphones and the introduction of mobile-based payment platforms,” he said, adding that cutting-edge technologies would continue to drive this trend.
“The digitisation of financial services is empowering customers to seek automated services online for greater convenience and more seamless experiences,” he said.
Hussian also said FinTech’s emergence stems from specialised software and algorithms for companies, business owners and consumers to better manage their financial operations.
He explained that TFP is currently integrating FinTech to further enhance its business management solutions (BMS), particularly in human resources management (HRM).
“Our HRM solutions are well known for various functions such as scheduling of workers schedule, online leave system, claims management and issuing payroll statements,” said Hussian.
“By integrating FinTech into our existing solutions, we aim to develop an e-wallet which will allow enterprises to directly deposit salaries to their employees’ e-wallets,” he explained, adding that this function would particularly benefit companies who are heavily reliant on foreign workers.
“These foreign workers may also perform any transfer and remittance of funds in an efficient and convenient way to their home country via the e-wallet,” he said.
Besides its HRM solutions portfolio, TFP is also aiming to integrate FinTech into its existing campus management systems.
“Through the integration of Fintech into our campus management system, students will also be able to make use of campus e-wallet to perform cashless payment for any on-campus purchases,” said Hussian.
TFP is currently in the process of disposing Tech3 Solutions Sdn Bhd, a wholly-owned subsidiary, for RM7.9 million cash.
Proceeds from the disposal would mainly be utilised for its BMS segment and funding for new business plans.
Last October, TFP had acquired a 75 percent stake in Jejak Semangat Sdn Bhd, a company which holds a mobile virtual network operator (MVNO) licence from the Malaysian Communications and Multimedia Commission (MCMC).
Hussian was appointed to TFP’s board in early-2013 and was re-designated as its managing director in mid-2018.
He is also the executive director and major shareholder of MobilityOne Ltd which is listed on the Alternative Investment Market of the London Stock Exchange.
MobiltyOne is an e-commerce infrastructure payment solutions and platform provider that is known to work closely with most telecommunications companies and financial institutions throughout Malaysia.
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