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4.0 Open Finance Use Cases v1

4.0 Open Finance Use Cases v1

Initial Use Cases v1 to Prioritize for Malaysia

To effectively kickstart the implementation of Open Finance in Malaysia, a collaborative syndication exercise has been conducted with key industry stakeholders. This process aims to identify and prioritize high-impact use cases that align with local market needs and regulatory objectives. These initial use cases will serve as the foundation for rollout, providing a clear direction and measurable outcomes for what success in Open Finance should look like within the Malaysian context.

Based on industry feedback and strategic relevance, two key use cases have been selected for early implementation:

  1. Personal Financial Management (PFM) 4.1 Personal Financial Management (PFM)
    Enables individuals to aggregate and manage their financial data across multiple accounts and services, offering personalized insights, budgeting tools, and financial wellness support.

  2. Credit Underwriting 4.2 Credit Underwriting
    Facilitates smarter, data-driven lending decisions by allowing financial institutions to access more comprehensive and real-time financial data of consumers and businesses.

These prioritized use cases will help build trust, demonstrate value across the ecosystem, and serve as early benchmarks for success in Malaysia’s Open Finance journey.