Entrepreneurial talk by MoneyLion Inc

Front row, second from left: Foong with the audience

The Lee Kong Chian Faculty of Engineering and Science (LKC FES) and the Department of Consultancy and Commercialisation organised an entrepreneurial talk on 12 March 2018 at Sungai Long Campus. Present at the talk were LKC FES Centre for Computing and Intelligent Systems Chairperson Assoc Prof Dr Tay Yong Haur, LKC FES lecturer Wong Chim Chwee, representatives of MoneyLion Inc, students and staff.

MoneyLion Inc. Co-founder and Chief Technology Officer Foong Chee Mun gave a talk titled “Entrepreneurship in the age of automation and artificial intelligence”. He started his talk by giving an overview of MoneyLion Inc. to the audience and it was followed by the introduction of finance technology or better known as Fintech and artificial intelligence (AI).

Foong shared about the working environment and cultures as well as his experiences on a start-up and the success of MoneyLion. He also spoke about the evolvement of AI in the finance industry and the incorporation of technology in business in the industrial revolution. He said, “Start your business with a vision and that vision must have an impact on the people around us. It is never about yourself and whatever you do you need to always contribute back to the society.”

Foong delivering his talk

Foong added, “The most challenging part of doing a start-up business is the manpower. Find a co-founder that you can trust and that person has to be someone who is willing to fight for the betterment of the company. It is also crucial to find someone who is different from you because different people come with different skills and these various skills help to create a better business model to remain relevant and sustainable in the future.”

Foong co-founded MoneyLion Inc. with the goal to bring the most advanced AI technology into retail finance. At MoneyLion Inc, he oversees a multi-geographical engineering and analytics team to create an industry-leading platform that encompasses underwriting, marketing, user-experience and user-acquisition. Prior to this, Foong was a founding member of Simulex Inc, a boutique research firm specialising in AI and advanced analytics for predicting human behaviour. In his 12 years with Simulex, he consulted for various branches of the United States Department of Defense and Fortune 500 companies. His work ranged from big-data distributed computation to social-sciences encoding into mathematical and algorithmic models.  

Wong (right) presenting the token of appreciation to Foong


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