AICB Unveils FSF Xcel: A Game-Changer for Malaysia’s Finance Talent

The Asian Institute of Chartered Bankers (AICB) has launched FSF Xcel, Malaysia’s first comprehensive digital skills assessment platform designed to enhance the financial sector’s talent pool. Announced on October 14, 2025, the platform aims to benchmark workforce capabilities and facilitate upskilling within the industry, aligning with Malaysia’s vision for a more adaptive and sustainable financial ecosystem.

FSF Xcel builds upon the Future Skills Framework (FSF) introduced in 2024, operationalizing the framework through standardized assessments. These assessments will allow financial institutions to identify skills gaps, chart career pathways, and develop future-ready talent strategies. Covering 159 job roles and 157 critical skills, the platform emphasizes both technical abilities and essential behavioural competencies.

Collaboration and Strategic Goals

Developed in partnership with Accendo Technologies, a Malaysian company specializing in AI-driven talent intelligence, FSF Xcel integrates international best practices with local insights. This collaboration is pivotal for strengthening Malaysia’s financial talent pipeline. The financial sector contributed approximately 6.7% to Malaysia’s GDP in 2024 and employs nearly 167,000 professionals, underscoring its importance to national economic growth and stability.

In accordance with the Financial Sector Blueprint 2022–2026 from Bank Negara Malaysia, FSF Xcel aims to cultivate a digitally fluent workforce, ready to embrace innovation. The platform offers real-time analytics and a shared competency framework to assist institutions in workforce planning, helping to advance Malaysia’s goal of preparing its workforce for a digital economy.

Edward Ling, Chief Executive of AICB, remarked, “FSF Xcel is more than a skills assessment platform — it is a catalyst for transformation. By providing data-driven insights, it promotes a culture of continuous learning and professional excellence.” He emphasized that the initiative reflects a collective commitment to building a resilient and competitive financial workforce.

YBhg. Datuk Dr Yvonne Chia, Chairperson of the MyMAHIR Future Skills Talent Council – Financial Sector, highlighted the urgency of the initiative. “In a world where nearly 40% of today’s skill sets are projected to change or become obsolete by 2030, FSF Xcel enables financial institutions to respond adeptly and strategically,” she stated.

Industry Demand and Future Outlook

The launch is supported by AICB’s 2025 Workforce Baseline Study, which garnered a response rate of 68% from 99 financial institutions. The findings revealed a strong demand for a standardized digital assessment platform, with 96% of participants expressing interest in adopting FSF Xcel to address skill gaps as identified in the FSF. The study also found that around 40,000 employees are expected to see their roles evolve due to automation, highlighting the pressing need for targeted upskilling.

These insights align with the World Economic Forum’s Future of Jobs Report 2025, which predicts that 39% of existing skill sets will become outdated by 2030. Addressing these skill gaps is crucial for overcoming barriers to business transformation in Malaysia.

FSF Xcel is set for a phased rollout across financial institutions starting in the fourth quarter of 2025. AICB will collaborate closely with Bank Negara Malaysia, Accendo Technologies, industry associations, and educational partners to facilitate the platform’s adoption and implementation throughout the sector.

The Asian Institute of Chartered Bankers, as the sole professional body for Malaysia’s banking industry, plays a vital role in enhancing workforce standards. With over 35,000 members, AICB strives to elevate the banking workforce through qualifications and a commitment to continuous professional development. For more information, visit their website at www.aicb.org.my.