Finalyst, a homegrown FinTech platform, has unveiled its revolutionary financial health assessment services. The platform aims to address the concerning revelation from a poll conducted by a leading tertiary institution, indicating that a staggering 73 percent of Malaysian youth find themselves in debt.
The unprecedented level of financial difficulties among Malaysian youth is attributed to a lack of financial literacy, leading to poor financial decisions and missed opportunities for wealth creation.
Finalyst steps in as a potential solution provider, offering a first-of-its-kind financial health assessment platform equipped with cutting-edge technology.
Designed to enhance cash flow management, investment strategies, and insurance planning, Finalyst collates data to identify potential shortfalls and promotes wealth growth through a suite of powerful tools.
The platform’s automated and user-friendly interfaces aim to improve efficiency and foster stronger advisor-client partnerships.
The platform offers custom financial plans tailored to each client’s unique goals, providing recommendations for cash flow management, insurance, investments, retirement planning, and more.
Clients can visualise various financial scenarios, exploring the impact of changes in their financial position. Monitoring and reporting functionalities track clients’ progress towards financial goals, generating comprehensive reports for both clients and financial planners.
Finalyst Co-founder, TJ Tee emphasised the platform’s goal to make the financial planning process seamless. “There are avenues for the public to capitalize on wealth creation opportunities, but the gap in financial literacy leaves most of us unaware of this. Our goal with Finalyst is to make this process as seamless as possible.”
Finalyst Co-founder, Casper Foo highlighted the benefits for both financial planners and clients. “Financial planners now have all the information at their fingertips, making it easier for them to chart out a comprehensive plan. On the client’s side, they will now be able to see everything clearly — giving them a better understanding of how their finances are being used.”
Finalyst’s user-friendly interface makes complex financial planning accessible for users at 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, personalised financial solutions.
Prioritising user data safeguarding, Finalyst complies with the Personal Data Protection Act (PDPA) and embraces 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 a transformative journey, seamlessly integrating technology with financial success. By directly addressing the challenges faced by Malaysian youth and financial planners, Finalyst aims to redefine the financial planning landscape in Malaysia.
