Finalyst Unveils Innovative Platform to Address Malaysian Youth Debt Crisis Through Financial Health Assessment

Finalyst, a homegrown FinTech platform, has launched a pioneering financial health assessment service to tackle the high debt levels among Malaysian youth, attributed to financial illiteracy. The platform, equipped with cutting-edge technology, offers custom financial plans, visualization of scenarios, and monitoring functionalities, aiming to redefine the financial planning landscape in Malaysia.

24 January 2024 – Homegrown FinTech platform, Finalyst, has introduced a groundbreaking financial health assessment service to address the alarming revelation that 73 percent of Malaysian youth are grappling with debt, according to a poll conducted by a leading tertiary institution. Recognizing the impact of financial illiteracy on poor decision-making and missed wealth creation opportunities, Finalyst aims to be a solution provider with its first-of-its-kind platform equipped with cutting-edge technology.

The platform is designed to enhance cash flow management, investment strategies, and insurance planning by leveraging data to identify potential shortfalls and promote wealth growth through powerful tools. Finalyst’s automated and user-friendly interfaces are crafted to improve efficiency and strengthen advisor-client partnerships.

Offering custom financial plans tailored to individual goals, Finalyst provides recommendations for cash flow management, insurance, investments, retirement planning, and more. Clients can visualize various financial scenarios, exploring the impact of changes in their financial position, with monitoring and reporting functionalities tracking progress towards financial goals and generating comprehensive reports for both clients and financial planners.

TJ Tee, Co-founder of Finalyst, highlighted the platform’s mission to make the financial planning process seamless, stating, “Our goal with Finalyst is to make this process as seamless as possible.” Casper Foo, Co-founder of Finalyst, emphasized the benefits for both financial planners and clients, noting that financial planners now have all the information at their fingertips, making it easier to chart out comprehensive plans.

Finalyst’s user-friendly interface makes complex financial planning accessible to users of all levels of financial literacy, with mobile app integration ensuring convenience and real-time updates. The platform is also planning to integrate AI and machine learning capabilities for advanced, personalized financial solutions.

Prioritizing user data safeguarding, Finalyst complies with the Personal Data Protection Act (PDPA) and utilizes the secure Amazon Web Services (AWS) platform for enhanced data security, scalability, and overall service reliability.

The launch of Finalyst marks a significant step toward seamlessly integrating technology with financial success, aiming to redefine the financial planning landscape in Malaysia by directly addressing the challenges faced by Malaysian youth and financial planners.

Author: Terry KS

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