Minetech is aiming to be a full stack financial technology solutions provider in Malaysia, through our wholly owned subsidiary Techmile Resources Sdn Bhd (TRSB), where consumers can compare and identify a variety of financial products best suited to their needs, in addition to simplifying product purchasing processes digitally.
The move, is part of Minetech’s plans to aggressively shift its focus into the financial technology sector as part of its strategy to expand into areas with huge growth opportunities.
In principle, TRSB will be tailor-made to become a financial technology company that provides electronic payment system solutions such as alternative delivery channels to banks and financial institutions via secured electronic platforms for both micro and cross-border payments. In addittion, TRSB will also be focusing primarily on technology driven businesses and on the development of data centres.
TRSB’s recent acquisition of Uniqa (M) Sdn Bhd (Uniqa), meanwhile is aimed to transform TRSB into a full-stacked financial technology solutions provider in Malaysia which would allow it to provide financial technology support to clients and partners who offer remittance services to the Asian markets such as India, Bangladesh, Nepal, the Philippines, which are the top destinations for remittance from Malaysia.
For the record, Uniqa is an approved system provider under section 40 of the Money Service Business Act (MBSA) with clients using its financial technology solutions needing BNM approvals.
Uniqa currently has two local banks using its remittance system and is also working closely with its local partner bank to establish partnerships with a number of overseas banks in Indonesia, China, and the Philippines, as well as countries in the Middle East and Europe.
TRSB’s next focus is to expand our business on e-money issuance and to focus on merchant acquisition strategy. This will be an integral part of card, e-wallet and banking payment processing. This program enables merchants to process the payments and helps in increasing sales by accepting most of the payments mode, inclusive of e-wallet and QRPay in near future.