KUALA LUMPUR, June 7 (Bernama) -- The development of financial technology or fintech over the last four years offers huge opportunities for investments, according to Standard Chartered Bank Malaysia Bhd (StanChart).

"Fintech is trying to do pretty much the same thing like what Uber does in the transportation network but in the financial services sector, which is basically disrupting all ways of doing business," Managing Director and Chief Executive Officer Mahendra Gursahani told Bernama when met at the recently concluded World Economic Forum on ASEAN 2016.

Fintech is an economic industry composed of companies that use technology to make financial services more efficient. According to Mahendra, StanChart sees it as a new area of competition.

Source: Bernama