SCxSC 2024 kicks off with Digital Leaders’ Dialogue

The Securities Commission Malaysia (SC) has kicked off the SCxSC 2024 series of events with the Digital Leaders’ Dialogue, focusing on four key areas – tokenisation, Artificial Intelligence (AI), Regulatory Technology (RegTech) and cybersecurity.

The half-day session marked the first of a series of SCxSC programmes, themed ‘SCxSC Views from the Top: Digital Leaders’ Dialogue on Emerging Techs’, with nearly 30 C-level executives taking part in the event.

In a statement yesterday, the SC noted that it had held discussions with capital market industry leaders on opportunities, challenges and the future trajectory of emerging technologies within the capital market.

The attendees, comprising representatives from capital market players including exchanges, fund management companies, trustees, intermediaries, brokers and investment banks, had covered topics such as AI, blockchain and RegTech for the capital market, the SC said.

In his opening speech, the SC chairman Datuk Seri Dr Awang Adek Hussin emphasised the significance of embracing cutting-edge technologies such as blockchain and AI, and also underscored the importance of Malaysia staying at the forefront of innovation to maintain a competitive edge in the global market.

“Change is inevitable, and it’s our collective responsibility to embrace it with open arms, driving towards a more resilient and inclusive future,” he said.

The SC said the inaugural Digital Leader’s Dialogue also highlighted the encouraging adoption of emerging technology in Malaysia which has shown visible productivity improvements, such as the use of AI chatbot to enhance customer service and improve employee productivity.

The attendees also exchanged views on current and future use cases for blockchain as well as AI and Generative AI, and the potential for industry-SC collaborations to explore pilot use cases and tailored capacitybuilding programmes.

“The significant interest in the adoption of RegTech was also highlighted, with a focus on efficiency for reporting, compliance and risk management.

Participants also discussed open banking and the potential for industry-wide utilities, such as digital profiles tailored for the capital market.

“These conversations have established the groundwork for further dialogues throughout the year and actionable industry collaborations moving forward,” the SC said.

Beyond the dialogue, the SC said upcoming initiatives under SCxSC include Innopolicy Roundtables, Pitch & Match, TechTrek, and the highly anticipated Malaysian Fintech Summit scheduled in the fourth quarter of this year.

The SCxSC is further complemented by the SC’s initiative to co-fund innovative projects through the Digital Innovation Fund (DIGID).

To date, 15 projects have been awarded grants worth RM6.24 million. — Bernama