- Microsoft AI partnership targets 100 university students by year-end
- Programme builds digital talent pipeline for financial sector future
Expanding a role it has never played before in its almost eight year existence, that of talent provider for the financial sector, Payments Network Malaysia Sdn Bhd (PayNet) has launched the second phase of its national talent development initiative, Program Akar (the Malay language word for ‘root’), with a new focus on artificial intelligence and data science for Malaysia’s financial services industry. The six weeks program, fully funded by PayNet, will see 100 students selected.
Powered by Microsoft’s AI for Malaysia’s Future (AIForMYFuture) initiative, the curriculum aims to equip university students with practical skills in digital payments, AI, and industry applications, preparing them for roles in the rapidly evolving financial sector.
“We see talent development as national development,” said Farhan Ahmad, Group CEO of PayNet, meaning that the country’s development will be stunted if it cannot create the talent needed by industry to power its growth and progress. Hence Farhan declaring, “Program Akar is about more than preparing students for jobs, it’s about preparing them to lead Malaysia’s digital economy with purpose.”
The students seem ready for the challenge, going by the response of Amir Hibban, a Multimedia University (MMU) student. Sharing his enthusiasm at being chosen, he said, “Being selected for Program Akar feels like a big step forward. It’s not everyday you get the chance to learn about AI and digital payments from real industry leaders. I’m excited to see how this can shape my future and help me find my place in Malaysia’s digital economy.”
According to PayNet, the success of the program will be measured by students’ ability to secure internships or employment opportunities in the financial services sector. By connecting students to hands-on learning, mentorship, and job placements within Malaysia’s leading financial institutions, Program Akar aims to strengthen the country’s financial ecosystem and build long-term economic resilience in an increasingly AI-driven landscape.
Akar’s first cohort for 2025 begins with 25 students from MMU serving as the pilot group. PayNet plans to expand the program to include 75 more students from other local universities by the end of the year.
Microsoft partnership brings AI focus
“AI is transforming every role in every industry, including financial services. By collaborating with PayNet through Program Akar, we’re helping build a generation of talent equipped with digital and AI skills to thrive in line with Microsoft’s AIForMYFuture initiative,” said Laurence Si, Managing Director of Microsoft Malaysia.
This second installment of Akar integrates Microsoft’s AI learning pathways as part of Malaysia’s broader digital skilling efforts. The program is delivered by implementation partners PEOPLElogy Bhd and Futuresparx Sdn Bhd.
Microsoft, which introduced its “AI for Malaysia’s Future” initiative in Dec 2024, ambitiously aims to equip 800,000 Malaysians with AI skills by the end of 2025 and was an obvious choice for PayNet to partner.
Comprehensive curriculum addressing industry needs
Program Akar equips students with a three-pillar curriculum focused on:
- Values-Driven Enrichment – Cultivating leadership, integrity, and a future-ready mindset
- Digital Payment Knowledge – Covering the evolution of money, banking systems, digital payments, and transaction security
- AI & Data Science Mastery – Combining foundational knowledge with critical thinking and real-world applications
The curriculum was designed in response to feedback from financial industry partners following the initial cohort that was launched in July 2024, which focused primarily on digital payments and cloud technologies through a collaboration with AWS.
While the Digital Payment Knowledge and AI & Data Science Mastery pillars are obvious areas of focus, Jun Maria Tan Abdullah, Senior Director of Program Akar, explained the importance of the values-driven component: “Critical thinking is key. The students need to be more creative and proactive because once they get it, they’ll learn very fast. We must not just focus on the technology but also on giving them power skills to be more holistic.”
Students from the Kuala Lumpur-based Asia Pacific University of Technology & Innovation (APU) were chosen for the July 2024 cohort with 50 computing and IT students selected from about 150 applicants through an assessment and interview process. The program consisted of 47 days of training with two days of physical and 45 days of virtual learning. They then had a three month placement with financial institutions in the country. According to APU’s estimate, the fully sponsored training was worth US$2,743 (RM12,000) for each student.
Selection process for candidates
The program is open to Malaysian Bachelor’s Degree students in their penultimate or final year who are seeking internship or placement opportunities. Applicants must meet specific criteria:
- Minimum CGPA of 3.00
- Currently pursuing a bachelor’s degree in IT, Computer Science, or technology-related programs
Qualified candidates undergo both technical and behavioral assessments to evaluate their hard and soft skills.
PayNet, Malaysia’s national payments network, processes transactions worth US$1.4 trillion (RM6.1 trillion) annually — equivalent to 3.3 times Malaysia’s GDP. Its retail payments ecosystem includes services like DuitNow, JomPAY, and MyDebit that form a core part of daily financial transactions in the country. The company also manages Malaysia’s real-time retail QR payments network, which is interoperable with systems in Singapore, Thailand, and Indonesia.
Dashveenjit Kaur contributed to the article.
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