Malaysian Central Bank-owned Payments Network Malaysia (PayNet) has introduced Program Akar, a groundbreaking initiative aimed at meeting the urgent demand for digital skills in Malaysia. Supported by AWS re/Start, this innovative cloud skills program will revolutionize the financial services sector by providing Malaysia's future workforce with crucial digital competencies. The program will be administered by World Education Placement Services Sdn.
With 78 percent of Malaysian employers anticipating a need for digitally skilled workers in the next five years, PayNet highlighted that the demand for digital talent is at an all-time high. However, research by Gallup and AWS indicates that nearly half of Malaysians face challenges accessing affordable digital skill training, despite over 80 percent showing strong interest in such programs. The statement also notes that cloud computing is crucial for driving AI adoption, as it underpins innovations that revolutionize various industries.
According to the recent Accelerating AI Skills study by Access Partnership and AWS, nearly all employers in the financial services sector anticipate using AI within the next five years. Program Akar is designed to tackle these challenges by offering a free, accessible, and inclusive digital skills program to participants. AWS will contribute training resources, cloud services, and technical expertise, while PayNet will finance the program and promote the incorporation of industry-relevant skills.
WEPS will ensure the curriculum remains current and industry-focused while managing the program from start to finish. In this initial collaboration, PayNet, AWS re/Start, and WEPS have pledged to launch the program with 100 students in 2024. The first cohort of 50 students will act as a pilot to gather feedback and enhance the program for future groups. To establish a solid foundation for future employment, participants will undergo an intensive 47-day training course developed by AWS and PayNet. This course will cover essential cloud skills and digital payments, including programming, networking, security, and databases.
Graduates will receive support in securing internships and job placements in Malaysia’s financial services sector, enabling them to apply their training in the workforce. “At PayNet, we recognize the pressing talent shortage in Malaysia’s tech-driven sectors. Our collaboration with AWS through Program Akar aims to bridge this gap by equipping early talent with essential cloud skills”, said Jun Maria Tan Abdullah, Senior Director of PayNet Akar.
Pete Murray, AWS's Malaysia Country Manager, said, “PayNet’s inspirational vision has resulted in this first-of-its-kind collaboration with AWS and WEPS to empower the next generation of financial services talent in Malaysia with foundational skills in cloud security, artificial intelligence, data analytics, and application modernization”. The statement reveals that training for the initial cohort of 50 learners from the Asia Pacific University of Technology & Innovation (APU) will commence in July 2024. Organizations such as Bank Negara, Maybank, Public Bank, Hong Leong Bank, and Bank Islam have shown interest in offering internship opportunities to graduates of the program.
