INTRODUCTION FinTech, short for financial technology, has become the contemporary issue worldwide. Driven primarily by the demands of tech-savvy, young and educated consumers on fast and efficient financial products and services. Digitalization has reshaped and evolved the interactions between the organisations and consumers engaged. Seamless intersection of financial services and technology delivered by FinTech closes the gap between what the existing financial institutions offers and what the customers expect from them. Transitioning the customary culture of transaction-centric to an intuitive user experience-centric culture becomes the predominant factor in digital transformation of FinTech. IMPACT FINTECH WILL HAVE ON THE FINANCIAL SERVICE INDUSTRY IN MALAYSIA Financial service industry had always been supervised and abide strictly by numerous rules and regulatory requirements by Bank Negara Malaysia which was then heralded a prolonged period of time in adopting a financial businesses transformation programmes since the global financial crisis. Albeit the repercussions of the unprecedented crisis in Malaysia was insignificant but technology innovation in the industry development was quite a distant priority. As a matter of fact, Malaysia is a developing country amongst the ASEAN region and these incumbents had been much conservative over the years in the financial realm that the idea of outreaching to the potentially technology-enabled ecosystem become a mere attainable objective which could possibly takes longer time than the rest of the competitive countries. As the newly appointed governor of Bank Negara Malaysia, Muhammad Ibrahim pointed out that FinTech is challenging the status quo of the financial industry in Malaysia. According to David Fong, the President of FinTech Association of Malaysia (FAOM), the exponential growth of disruptive technology will have explicitly impact on consumer banking, payment and fund transfer, insurance as well as investment management of the financial service industry (Yeo 2017). The ubiquity of electronic digital devices in Malaysia made Fintech a daunting challenge to consumer banking and payment arenas. Deposit, lending, payment transactions and fund transfer were the epicentre of the incumbents that once the most pleasantly profitable part of the bank. Now that Fintech has reinvented the financial industry with the convenience of eWallet such as WeChat Pay and Alipay, the global operations, offering the cross-border 1