KUALA LUMPUR, 22 October 2025 — The Asian Institute of Chartered Bankers (AICB) has officially launched FSF Xcel, Malaysia’s first industry-wide digital skills assessment platform for the financial sector, designed to benchmark workforce capabilities and accelerate digital upskilling across financial institutions.
Launched on 13 October 2025, FSF Xcel marks a major milestone in the nation’s financial transformation journey, supporting Malaysia’s transition toward a more adaptive, sustainable, and future-ready financial ecosystem.
Building on the success of the Future Skills Framework (FSF) introduced in 2024, FSF Xcel operationalises the framework through structured, industry-validated assessments. These tools enable financial institutions to identify skill gaps, map learning pathways, and future-proof talent strategies.
The platform encompasses 159 job roles and 157 critical skills, covering both technical capabilities and behavioural competencies. Developed in collaboration with Accendo Technologies, a Malaysian AI-powered talent intelligence company, FSF Xcel integrates global best practices with local insights to strengthen Malaysia’s financial talent pipeline.
Driving Malaysia’s Future-Ready Financial Workforce
The financial sector contributed 6.7% to Malaysia’s GDP in 2024 and employs nearly 167,000 professionals, making it a cornerstone of national growth. In alignment with Bank Negara Malaysia’s Financial Sector Blueprint 2022–2026, FSF Xcel accelerates the industry’s shift towards a digitally fluent, innovation-driven workforce empowered by data and lifelong learning.
Through real-time analytics and a common competency language, FSF Xcel allows financial institutions to benchmark workforce capabilities, plan professional development, and align with Malaysia’s digital economy goals.
Empowering Talent Through Data and Collaboration
“FSF Xcel is more than a skills assessment platform; it is a catalyst for transformation,” said Edward Ling, Chief Executive of AICB. “By equipping both employees and employers with data-driven insights, it fosters a culture of continuous learning and professional excellence. Developed for the industry, with the industry, FSF Xcel reflects our shared commitment to building a resilient, competitive, and future-ready financial workforce.”
Datuk Dr Yvonne Chia, FCB, Chairperson of the MyMAHIR Future Skills Talent Council – Financial Sector and AICB Council Member, added:
“In a world where nearly 40% of today’s skill sets will evolve or become obsolete by 2030, FSF Xcel empowers financial institutions to respond with agility and foresight. It strengthens Malaysia’s position as a regional hub for skilled, versatile, and innovative financial professionals.”
Sharma Lachu, Founder and CEO of Accendo Technologies, noted:
“FSF Xcel proves that vision can be translated into action. Our partnership with AICB drives the impetus for an industry-wide Digital Talent Passport, enabling individuals and organisations to thrive in an ever-changing digital landscape.”
The initiative is supported by AICB’s 2025 Workforce Baseline Study, which recorded a 68% response rate from 99 financial institutions. The findings revealed strong demand for a unified digital assessment platform, with 96% of respondents expressing interest in adopting one to close digital skill gaps.
The study also found that approximately 40,000 employees will see their roles evolve due to automation, underscoring the urgency for targeted upskilling and reskilling within Malaysia’s financial sector.
These insights mirror global trends identified in the World Economic Forum’s Future of Jobs Report 2025, which forecasts that 39% of current skill sets will become outdated by 2030 and names skills gaps as the biggest barrier to business transformation.
FSF Xcel will be progressively rolled out across Malaysian financial institutions from Q4 2025, with AICB, Bank Negara Malaysia (BNM), Accendo Technologies, and industry associations collaborating to ensure broad adoption and smooth implementation.
