A month ago, EPF CEO Datuk Seri Amir Hamzah Azizan said that as of May 2023 only 18% of total members met the basic savings by age, which will enable them to have at least RM1,000 a month over a 20-year retirement period from age 55.

There are many reasons for these concerning numbers, including stagnant incomes, but the areas that today’s guests are addressing is financial literacy and financial planning.

Through their digital financial planning app CashKu, Advisonomics founders Raevendren Ramachandran and Asgari Stephens want to improve financial literacy among Malaysians by creating awareness and accessibility to resources and products around savings, retirement planning and financial literacy.

Today on the show, the founders of Advisonomics get into, among other things, how much a digital platform can move the needle to address our concerning retirement statistics, the business model that drives this business, and the role that CashKu plays in the financial services space.