Financial literacy and inclusion agendas can foster economic stability for individuals and families, reduce poverty, and inculcate a culture of savings and investments.
Hextar Technologies Solution Bhd (HTS) chairman Tan Sri Muhammad Ibrahim said there are two important components in the nation’s financial agenda, namely financial literacy and inclusion.
“Financial literacy empowers individuals to make informed financial decisions, invest wisely, and manage their resources effectively, such as starting their own business, investing in education and healthcare.
Financial inclusion ensures all strata of society have access to essential financial services such as banking, insurance, credit and investment,” he said during the company’s MoneyX launch here today.
HTS has announced plans to venture into fintech by introducing MoneyX, a one-stop fintech mobile super-app.
MoneyX aims to promote financial literacy and management by making information about available financial products and services accessible and easily understandable to users, thus empowering users to make responsible and informed financial decisions.
MoneyX also includes a secure digital vault where users can store important documents like bills, insurance policies, and agreements, ensuring easy access and organisation.
Users are also given the option to utilise the reminder and notification feature in MoneyX, which will prompt users regarding any upcoming payment or renewal deadlines.
Muhammad Ibrahim also quoted a study by one of the renowned insurance groups in the country in the fourth quarter of 2022, which revealed that one in every three working Malaysians is, in fact, uninsured.
“When catastrophe strikes, it can damage individuals and families,” he said.
Group chief executive officer Datuk Eddie Ong Choo Meng emphasised that MoneyX provides personalised insights and will give better loan suggestions based on the user’s financial goals and capacity.
He said MoneyX is a one-stop app for users to access, manage and connect to all their financial tools, in line with the company’s vision of empowering the community to realise their financial goals.
“We strive to integrate the right technology to communicate personalised financial products across savings, insurance, and investment purposes to enhance the user’s financial position,” he added.
In addition, MonexyX has a secure digital vault where users can store important documents such as bills and insurance policies.
Users can use a notification function to remind them of upcoming payment or renewal deadlines.