{
  "id": 4997945,
  "title": "3 Malaysian companies who are innovating gig work for better financial security",
  "url": "https://urgent.news/2026/09/02/3-malaysian-companies-who-are-innovating-gig-work-for-better",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-09-02T02:00:00.000Z",
  "source": {
    "name": "Vulcan Post",
    "slug": "vulcan-post",
    "url": "https://vulcanpost.com/912960/3-companies-innovating-gig-work-for-better-financial-security-malaysia/"
  },
  "original_language": "en",
  "account": "Three Malaysian companies are pioneering advancements in gig work to enhance financial security for its workforce. In 2026, the gig economy in Malaysia is projected to encompass 1.64 million platform and non-platform workers. These individuals, including food delivery riders, freelancers, and independent contractors, face unique financial challenges, such as lacking payslips for banks, irregular income, and insufficient savings infrastructure. Several initiatives have been established to bolster financial inclusion and fortify financial security for this expanding workforce.\n\nOne such initiative is the Financial Innovation Gig Economy Challenge, showcased during APEC Malaysia 2020. Hosted by Bank Negara Malaysia (BNM), the Malaysia Digital Economy Corporation (MDEC), and the United Nations Capital Development Fund (UNCDF), and supported by MetLife Foundation, the challenge invited innovative solutions to enhance the economic and financial well-being of gig workers. The initiative targeted four key pillars of financial health: spending, saving, borrowing, and financial planning. Over 100 global submissions were received, culminating in the selection of three winning solutions for pilot and scaling with Malaysian gig workers.\n\nPaywatch, Versa, and Get Hyred emerged as notable winners, each addressing distinct challenges faced by gig workers. Paywatch, a leading financial wellness platform, specializes in Earned Wage Access (EWA) solutions, enabling workers to access wages they've already earned before payday. With a mission to assist employees in managing finances effectively and avoid unnecessary loans, Paywatch has processed over US$200 million in transactions and expanded its services across Southeast Asia. The company has been featured in financial inclusion studies and initiatives by UNCDF and the International Labour Organization (ILO).\n\nVersa, a digital wealth management platform, focuses on democratizing access to wealth management tools. As the first e-service platform licensed by Malaysia's Securities Commission in 2021, Versa's products operate within a regulated framework, aiming to broaden access to such tools for all Malaysians, regardless of wealth status. Versa's cash management tool offers returns comparable to fixed deposits with similar liquidity as a regular savings account. The platform also offers investment and retirement planning tools, making wealth management accessible to a broader segment of the population.\n\nGet Hyred, another winner, focuses on providing accessible savings solutions to gig workers. By addressing the unique financial challenges faced by this growing workforce, these three Malaysian companies are contributing to the development of a more financially secure and resilient gig economy in Malaysia.",
  "summary": "[This is a sponsored article with Malaysia Digital Economy Corporation (MDEC).] Did you know? In 2026, Malaysia’s gig economy was reported to comprise a massive workforce of 1.64 million platform workers and non-platform workers. From food delivery and e-hailing riders to freelancers and independent contractors, these workers had no payslips to show banks, no steady income […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}