Kuala Lumpur, 10 November 2022 – Revenue Monster Group - a Malaysian financial technology company has appointed former Affin Bank Group CEO, Kamarul Arifin Mohd Jamil, as its new chairman. The appointment marks the Group’s next step in its plans for hypergrowth within the FinTech space.
Leveraging Kamarul’s decades of experience in the financial services industry, Revenue Monster Group is poised for an eventful 2023 with a string of high profile partnerships, collaborations as well as mergers and acquisitions as the group continues its plan to accelerate its leading position within the industry and build a true FinTech super-app to assist more local businesses to transform, digitalise and upgrade.
Commenting on his appointment to the role Kamarul, Chairman of Revenue Monster Group, says, “Over 7.2 billion e-payment transactions were recorded in 2021 here in Malaysia, this shows tremendous growth potential for the sector as more Malaysians become digital-first consumers. This is prime time for businesses to digitalise and thrive in the burgeoning eCommerce space. I am honoured to join Revenue Monster Group as its new Chairman.”
“The Group has already established an impressive track record within the industry which has been enhanced further by its rapid action in expanding its services as well as growing its reach and relevance to Malaysian businesses. The Group has ambitious plans ahead and I am committed to ensuring the Group achieves these goals by tapping into my industry experience and expertise to nurture a culture of innovation and synergy,” he continued.
An economics graduate from Cambridge University, Kamarul spent over a decade within the Affin Bank Group before spearheading growth of local FinTech player Fullrich Malaysia as its Chairman in 2020. With a track record of driving profitable growth and fostering a corporate culture based on the values of safety, service, innovation and team spirit, Kamarul intends to guide the rapid growth of Revenue Monster Group.
[Pictured from Left: Lim Kar Aik, CEO of Revenue Monster and Kamarul Arifin Mohd Jamil, New Chairman for Revenue Monster]
Commenting on the announcement, Lim Kar Aik, CEO of Revenue Monster Group shared “We believe Revenue Monster can further grow under Kamarul’s leadership. We appointed him to enhance our corporate governance and chart future business direction for Revenue Monster Group’s further growth. We look forward to major milestones being achieved in the coming year through the wise direction of Kamarul in his role as Chairman.”
This announcement comes on the heels of several other landmark announcements from the Group including a successful second round private equity funding amounting to RM30 million from private equity firm The SEA Capital.
Since then, Revenue Monster Group has also partnered with The SEA Capital and local financial technology solutions provider Fullrich Malaysia (and their local licensed e-wallet brand, TaPay) and software developer, Allied Protocol to build a more advanced B2B & B2G2C FinTech ecosystem which comprises end-to-end payment solutions from Point-of-Sale (PoS) to an eWallet licence.
With these recent announcements, the Group is now better positioned to provide customised digitalisation solutions according to the scale and needs of businesses such as aggregating merchant services and mobile payments, enabling Online-to-Offline (O2O) commerce, background data analysis and marketing optimisation
“Our recent announcements coupled with the appointment of Kamarul as our Chairman all go towards our on-going plans of becoming Malaysia’s most holistic FinTech solutions ecosystem. We aim to build a true super-app within the FinTech space which accommodates and caters to the full spectrum of services and solutions within the industry - all towards the goal of fast-tracking Malaysia’s digital transformation,” Kar Aik added.
The new features complement existing Revenue Monster offerings including the Group’s online super store solution, à la carte that caters to the B2C market in the F&B category and WeTix, the cinema and movie aggregator alongside Revenue Monster’s B2B solutions within its merchant portal.