Kuala Lumpur, 30 October 2026 – Prudential Malaysia has launched Levela, a free financial education platform aimed at helping young Malaysians manage money, understand debt and protect themselves against financial fraud, building on more than RM179.5 million invested and mobilised in corporate responsibility and financial inclusion initiatives between 2014 and 2025. The launch was officiated by Deputy Minister of Finance Liew Chin Tong, who called for stronger financial literacy alongside structural reforms to address rising healthcare costs, stagnant wages and household indebtedness.
For Malaysian households and financial institutions, the initiative comes as younger consumers face increasingly complex financial decisions, from Buy Now, Pay Later (BNPL) arrangements to digital payments and AI-enabled scams. Liew argued that financial education alone cannot resolve these pressures, emphasising that higher wages, affordable healthcare, better housing options and stronger consumer protection are equally important to building long-term financial resilience.
RM179.5 Million Commitment to Financial Inclusion
Prudential’s latest initiative builds on more than a decade of community investment across Malaysia.
Between 2014 and 2025, Prudential Assurance Malaysia Berhad (PAMB), Prudential BSN Takaful Berhad (PruBSN) and Eastspring Investments Malaysia collectively invested and mobilised more than RM179.5 million in corporate responsibility and financial inclusion programmes.
These initiatives have covered financial education, protection for underserved communities and efforts to improve financial security.
Levela extends that work to young adults who are beginning to manage their finances independently.
Developed by Prudence Foundation, Prudential plc’s community investment and philanthropic arm, the platform is available through a website and mobile application.
It provides free financial education in six languages, including Shariah-compliant content in English and Bahasa Malaysia.
Users can access interactive lessons covering budgeting, savings, credit, insurance, financial planning and fraud prevention.
The platform also supports offline learning, helping extend access to communities with limited or inconsistent internet connectivity.
Financial Education Must Change Everyday Behaviour
Speaking at the launch, Liew said financial resilience is built through the decisions individuals make throughout their lives.
“When we talk about building a resilient Malaysian economy, we must talk about building financially resilient Malaysians,” he said.
He emphasised that financial security depends on how people save, borrow, protect themselves and invest.
However, he cautioned that teaching financial concepts is insufficient unless people can apply that knowledge in everyday situations.
The success of programmes such as Levela, he said, should be assessed not simply by the number of users but by whether participants develop healthier financial habits.
The message reflects a growing concern that access to financial products has expanded faster than some consumers’ understanding of the risks involved.
Digital payments, instant credit and online financial services offer convenience, but they also require consumers to make decisions involving debt, personal information and financial security.
Levela Focuses on Six Essential Money Skills
Developed with research support from the Centre for Financial Inclusion at Accion, Levela covers six areas of personal finance.
These include budgeting and cash-flow management, savings and emergency funds, credit and debt management, insurance and takaful protection, financial goal-setting, and fraud prevention.
The platform is designed primarily for university students, young professionals and individuals taking their first steps towards financial independence.
Nicole Ngeow, Executive Director of Prudence Foundation, said financial education should help people make informed decisions rather than simply memorise financial concepts.
The objective, she explained, is to equip young adults with the confidence to manage spending, savings, borrowing and financial risks.
Levela complements Prudence Foundation’s established Cha-Ching programme, which introduces financial concepts to primary school children.
Since its introduction in 2016, Cha-Ching has reached more than 4.8 million students cumulatively across Asia and Africa, including an additional one million students in 2025.
Prudential’s wider community investment spending reached US$16.1 million in 2025, compared with US$12.5 million in 2024, covering Prudence Foundation and other locally led community programmes.
Medical Inflation Adds to Household Financial Pressure
Beyond financial education, Liew highlighted the increasing burden of medical costs on Malaysian households.
Rising hospital charges and insurance premiums, he said, are becoming significant concerns for financial security.
He discussed government efforts to address medical inflation through cooperation involving the Ministry of Finance, Bank Negara Malaysia, insurers and healthcare providers.
Among the approaches under consideration are mechanisms to improve transparency and consistency in medical treatment costs, including diagnosis-related group arrangements.
Liew also raised the possibility of expanding socially oriented healthcare services to complement the existing public and private hospital systems.
Such arrangements could potentially provide more affordable treatment options while helping reduce pressure on public healthcare facilities.
His broader argument was that financial resilience cannot be separated from the affordability of essential services.
A household may save carefully but still face financial difficulty when unexpected medical expenses arise.
Higher Wages and Productivity Must Go Together
Liew also addressed Malaysia’s wage structure and dependence on lower-cost labour.
He argued that many Malaysians seek employment in Singapore because of the income opportunities available there, while domestic employers continue to rely heavily on foreign workers for labour-intensive activities.
This creates a structural challenge for Malaysia’s economy.
The government wants businesses to adopt more technology, improve productivity and create better-paying jobs for Malaysian workers.
Liew used restaurant operations as an example, suggesting that wider adoption of equipment such as commercial dishwashers could reduce reliance on manual labour for routine tasks.
He also referred to Budget 2027 measures aimed at improving minimum wages and introducing skills-based salary benchmarks.
However, he stressed that structural changes should be implemented gradually rather than through abrupt adjustments that could disrupt businesses and employment.
The longer-term objective is to create an economy in which Malaysians can earn better incomes domestically while companies compete through productivity rather than primarily through low labour costs.
BNPL Debt and AI Scams Raise New Consumer Risks
The Deputy Finance Minister expressed concern about young Malaysians using BNPL services for everyday purchases.
While acknowledging that instalment-based payment arrangements can provide flexibility, he warned that easy access to credit may encourage debt accumulation before individuals have established stable financial positions.
He welcomed efforts to strengthen regulatory oversight of consumer credit providers, including BNPL operators.
The objective is to ensure that borrowing remains manageable and that consumers understand their repayment commitments.
Liew also warned that artificial intelligence is making financial scams increasingly sophisticated.
He referred to enforcement briefings suggesting that fraudulent transactions can now move through financial channels far more quickly than in the past.
That development makes rapid detection and intervention increasingly important.
He called for closer coordination between banks, telecommunications companies, enforcement agencies and government institutions.
Malaysia’s National Scam Response Centre, National Fraud Portal and 997 hotline form part of the country’s existing response framework.
However, Liew said stronger coordination would be necessary as fraudsters adopt more advanced technologies.
Financial education programmes, including Levela, could help consumers recognise suspicious requests, protect personal information and respond more effectively to attempted scams.
The Ledger Asia Insights
Prudential’s launch of Levela comes at a time when financial literacy is becoming more closely connected to Malaysia’s wider economic and social challenges.
Young Malaysians have access to financial products and digital services that previous generations could scarcely have imagined.
Banking, investing, borrowing and making payments can now be completed through mobile applications within minutes.
That convenience creates opportunities, but it also introduces risks.
BNPL services can make purchases appear affordable even when several repayment commitments accumulate. Digital investment platforms make financial markets more accessible, while sophisticated scams can exploit consumers who lack experience or confidence in evaluating financial offers.
Financial education is therefore increasingly important.
However, Liew’s remarks highlight a distinction that deserves attention: better financial knowledge does not automatically produce financial security.
A young professional may understand budgeting but still struggle with low wages, expensive housing, transport costs and rising medical expenses.
Financial resilience consequently requires action at two levels.
Individuals need the knowledge and habits to manage their finances responsibly. At the same time, policymakers and businesses need to address the economic conditions that make saving and building financial security difficult.
For financial institutions, initiatives such as Levela provide an opportunity to support customers before financial difficulties emerge.
The platform’s effectiveness, however, should ultimately be judged by measurable changes in financial behaviour rather than registrations or course completion alone.
Relevant outcomes could include improved understanding of borrowing costs, stronger emergency savings habits, greater awareness of financial protection and better recognition of fraudulent schemes.
The wider challenge for Malaysia is to ensure that financial education, consumer protection and economic reform progress together.
Higher productivity and better wages can strengthen households’ ability to save. More affordable healthcare and housing can reduce financial vulnerability. Effective regulation can help protect consumers from excessive debt and fraud.
Prudential’s RM179.5 million historical commitment demonstrates the scale of its reported involvement in financial inclusion initiatives, but the longer-term value of programmes such as Levela will depend on their accessibility, effectiveness and ability to reach people who need financial guidance most.
For Malaysia, building financial resilience is not simply about teaching people to manage money. It is about giving them the knowledge, protection and economic opportunities to build a more secure future.
