New Blis report pinpoints geography, mobility and psychology as the key factors impacting behaviour change leading up to the holiday season

SYDNEY, Oct. 22, 2020 /PRNewswire/ — Blis, the trusted leader in location-powered advertising and analytics has today launched a new global report, ‘Behaviour change is real: how brands can harness it’, in advance of the upcoming holiday season. The report looks at three key indicators for behaviour change that are impacting consumers and being impacted the most: geographical location, modifications to mobility and the psychological need for interaction.

 

 

The analysis highlights how these three factors interact and impact consumer behaviour, as seen both in our foot traffic data and sentiment surveys. This research pairs real-world behaviour with survey data from consumers and media industry professionals across Australia, Italy, New Zealand, Singapore, UAE, UK and US.

The report outlines how there is no one approach that fits all, given vastly different consumer need states and risk appetites. Consumers are out of their comfort zones. They are cocooning, and thus spending less, but in fact, appear to be splashing out more. As a result, brands also need to keep a close eye on the early embracers in any one vertical, as they are likely to be the harbingers of the next vertical to recover as well. Key findings include:

  • Geography: Patterns of behaviour vary at a localised level and confidence vs. caution varies geographically, so brands need to take a micro approach and develop more granular strategies.
  • Mobility: Public transit users are the early embracers and offer the best cues for brands about potential new targeting opportunities.
  • Psychology: The rate of return to ‘normal’ varies, not just region to region, but also person to person, where our intrinsic need for personal interaction drives more confident consumers out into daily life. Brands need to segment audiences into risk appetite.

Alex Wright, Head of Insights at Blis said, “With regions around the world exiting and entering lockdowns at different stages there is an abundance of uncertainty. This mix of confidence and concern, as well as adoption of new habits is creating bigger challenges for brands who are looking to deepen their understanding of their changing customers. This report sheds light on some of these key behaviour changes and the difference between perception and reality for consumers. Understanding  the impact of geography, mobility and psychology is key for brands to reach and engage consumers in this unusual time.”

With the holiday season already beginning for some and many yearning for a level of ‘normal’, it’s imperative for brands to pay close attention to how their audience has, or hasn’t, adapted their behaviour. In such a disrupted environment, understanding the different anchor points of a consumer’s day and how they have changed will provide key insights into their mindset.

The report also highlights the cyclical path that consumer behaviour is taking as markets experience different stages of impact from COVID-19. With full recovery not yet on the horizon, a return to stability is key for bedding in new behaviours and even reverting back to old habits not long forgotten. Learn more and read the full report here.

About Blis

Blis is the trusted leader in location-powered advertising and analytics, helping brands understand, reach and engage consumers globally to deliver measurable results. Because location data is the most accurate indicator of ‘real’ behaviour and intent at scale vs any other type of data, Blis uses this data to map real-world consumer behaviours based on where people are and where they’ve been, uncovering the truth about what people actually do.

Blis’ Smart Platform provides unmatched transparency, accuracy and scale. Its four tried and tested proprietary technologies – Smart Pin, Smart Scale, Smart Places and Smart Households  – allow for more effective planning, activation and measurement for marketers and business decision makers alike.

Established in the UK in 2004, Blis now operates in more than 40 offices across five continents. Working with the world’s largest and most customer-driven companies across all verticals including Unilever, Samsung, McDonald’s, HSBC, Mercedes Benz and Peugeot, as well as every major media agency, Blis reaches over a billion mobile devices a year.

To learn more, visit blis.com.

Logo – https://mma.prnasia.com/media2/1229979/Blis_Logo.jpg?p=medium600

 

 

Related Links :

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Ossen Innovation Announces the Date of Annual General Meeting of Shareholders of 2020

SHANGHAI, Oct. 22, 2020 /PRNewswire/ — Ossen Innovation Co., Ltd. (“Ossen” or the “Company”) (Nasdaq: OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, today announced that it will hold its 2020 annual general meeting of shareholders at 10:00 a.m. Beijing time on November 23, 2020 at the Company’s headquarters located at 518 Shangcheng Road, Floor 17, Shanghai, China.

Details about the meeting, including proposals to be presented, will be included in the notice of the meeting and related proxy materials, which the Company expects to distribute to its shareholders on October 30, 2020. The proxy documents will be posted on the Company’s website at http://ir.osseninnovation.com. Please visit http://ir.osseninnovation.com for more details.

About Ossen Innovation Co., Ltd.

Ossen Innovation Co., Ltd. manufactures and sells a wide variety of plain surface pre-stressed steel materials and rare earth coated and zinc coated pre-stressed steel materials. The Company’s products are mainly used in the construction of bridges, as well as in highways and other infrastructure projects. Ossen has two manufacturing facilities located in Maanshan, Anhui Province, and Jiujiang, Jiangxi Province.

Safe Harbor Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company’s public filings with the Securities and Exchange Commission, including the Company’s annual report on Form 20-F. All information provided in this press release is as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For more information, please contact:

Ossen Innovation Co., Ltd.
Wei Hua, Chief Executive Officer
Email: int.tr@ossengroup.com
Phone: +86-21-6888-8886

Investor Relations
GCI IR
Phone: +1-347-393-4230
Email: info@goldenir.com

Jianpu Announces Plan to Implement ADS Ratio Change

BEIJING, Oct. 22, 2020 /PRNewswire/ — Jianpu Technology Inc. (“Jianpu” or the “Company”) (NYSE: JT), a leading independent open platform for discovery and recommendation of financial products in China, today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares (the “ADS Ratio”), par value US$0.0001 per share, from the current ADS Ratio of two (2) ADSs to five (5) Class A ordinary shares to a new ADS Ratio of one (1) ADS to twenty (20) Class A ordinary shares. The Company will file a post-effective amendment to the ADS Registration Statement on Form F-6 with the U.S. Securities and Exchange Commission (“SEC”) to reflect the change in the ADS Ratio. The Company anticipates that the change in the ADS Ratio will be effective on or about October 30, 2020, subject to the SEC having declared the post-effective amendment to the ADS Registration Statement on Form F-6 to be effective on or before that date.

For Jianpu’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-eight reverse ADS split. Each ADS holder of record at the close of business on the date when the change in ADS Ratio is effective will be required to surrender and exchange every eight (8) existing ADSs then held for one (1) new ADS. Deutsche Bank Trust Company Americas, as the depositary bank for Jianpu’s ADS program, will arrange for the exchange of the current ADSs for the new ones. Jianpu’s ADSs will continue to be traded on the New York Stock Exchange under the symbol “JT”.

No fractional new ADSs will be issued in connection with the change in the ADS Ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will distributed to the applicable ADS holders by the depositary bank. The change in the ADS Ratio will have no impact on JT’s underlying Class A ordinary shares, and no Class A ordinary shares will be issued or cancelled in connection with the change in the ADS Ratio.

As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be equal to or greater than eight times the ADS trading price before the change. As previously announced on May 11, 2020, the Company received a letter of non-compliance from the New York Stock Exchange dated April 13, 2020, regarding its ADS trading price. The Company believes that the change in the ADS Ratio will help the Company to regain and maintain compliance with the continued listing requirements of the New York Stock Exchange. However, the Company can give no assurance that this goal will be achieved.

About Jianpu Technology Inc.

Jianpu Technology Inc. is a leading independent open platform for discovery and recommendation of financial products in China. By leveraging its deep data insights and proprietary technology, Jianpu provides users with personalized search results and recommendations that are tailored to each user’s particular financial needs and credit profile. The Company also enables financial service providers with sales and marketing solutions to reach and serve their target customers more effectively through online and mobile channels and enhance their competitiveness by providing them with tailored data, risk management and end-to-end solutions. The Company is committed to maintaining an independent open platform, which allows it to serve the needs of users and financial service providers impartially. For more information, please visit http://ir.jianpu.ai.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goal and strategies; the Company’s future business development, financial condition and results of operations; the Company’s expectations regarding demand for, and market acceptance of, its solutions and services; the Company’s expectations regarding keeping and strengthening its relationships with users, financial service providers and other parties it collaborate with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
Jianpu Technology Inc.
Oscar Chen
Tel: +86 (10) 6242-7068
E-mail: IR@rong360.com

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: jianpu@tpg-ir.com

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: jianpu@tpg-ir.com

 

Related Links :

http://www.x9.cn

Dubber Unveils Unified Call Recording and Voice AI Solution for Microsoft Teams

  • Automatically record and transform every conversation on Microsoft Teams into rich voice data for compliance, CX, evidence and performance improvement
  • Eliminate the cost, complexity and risks of legacy call recording and unlock the benefits of voice data at scale
  • Dubber unveils global channel program for Microsoft Channel Partners & Resellers

MELBOURNE, Australia, Oct. 21, 2020 /PRNewswire/ — Dubber Corporation Limited (ASX: DUB) (Dubber), today announced the global launch of Dubber Unified Recording on Microsoft Teams, supported by a new and tailored global channel partner and reseller program.

Unified Call Recording is a first of a kind capability for Microsoft Teams enabled by Dubber’s unique ability to capture any conversation – voice or video – on Microsoft Teams in the cloud – and to aggregate recordings, data, insights and alerts from service provider and unified communications platforms, compliantly, in one place.

Microsoft Teams is one of the world’s fastest growing team collaboration suites and has over 75 million daily active users. Dubber allows Teams customers to automate voice recording at scale from any device with no need for hardware. Unified call recording and voice AI are a key enabler of compliance, customer satisfaction and sales performance – delivering real-time insights, sentiment analysis, alerts, beautiful transcriptions and more.

Dubber announced an extensive global channel partner program for Microsoft partners including partner incentives with support, deployment, and training resources.

“COVID has dramatically accelerated the demand globally for unified communications solutions,” said Steve McGovern, CEO Dubber. “As workforces have dispersed and network end-points multiplied the demand for automated call recording at scale has become essential to addressing regulatory requirements and enterprise-wide visibility. With Dubber supporting Microsoft Teams via our global platform, users can activate recording immediately in the cloud – eliminating the need to build solutions or buy hardware.”

McGovern added, “Microsoft Teams customers and resellers now have access to the industry leading platform used by over 140 service providers worldwide. It’s now possible to unify call recording on these networks and Microsoft Teams into the centralised Dubber Voice Intelligence Cloud. Our integration with Microsoft Teams advances Dubber as the preeminent and de facto cloud-based unified call recording solution for communications providers – and as a source of differentiation and value for resellers globally.”

Background, Dubber on Microsoft Teams:

  • Available for order now from Dubber and registered Dubber resellers & partners
  • Dubber is live and can be easily activated on Microsoft Teams
  • Flexible plans start as low as AU$9.95 per month
  • Dubber for MS Teams currently supports Voice Unified Call Recording (UCR) with Video and Screen Share UCR to be available in December 2020
  • Access more information on Dubber on Microsoft Teams
  • Interested resellers can register to join introductory Dubber on Microsoft Teams webinars

About Dubber:

Dubber is globally recognised as the Cloud Call Recording and Data Capture platform for Communications Service & Solution Providers and as integral to their Unified Communications offering. Dubber’s unique technology enables call recording to be delivered as a service and turns voice calls into data enabling broad-reaching AI services to be deployed at scale directly from a Carrier network – or from inside a Solution Providers infrastructure. Dubber services are presented either in the brand of the Carrier or as Dubber products. Founded in 2011, Dubber is headquartered in Melbourne, Australia, with operations in the USA and Europe.

Trademark reference: “Microsoft” and “Microsoft Teams” are registered names and trademarks or trademarks of Microsoft, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

This ASX release has been approved for release to ASX by Steve McGovern, CEO & Managing Director.

For more information, please contact:

Investors
Simon Hinsley
simon.hinsley@dubber.net
+61 (0) 401 809 653

Media
Terry Alberstein
terry@navigatecommunication.com.au
+61 (0) 458 484 921

Related Links :

Dubber for Business

A Singapore based Fintech start-up company launches a Digital Lending Platform for SME Loans

SINGAPORE, Oct. 21, 2020 /PRNewswire/ — Bluecell Intelligence (BCI), a new start-up company in the Financial industry is all set to enter the Singapore markets soon. It strives to consolidate the fragmented lending ecosystem in Singapore by providing a new online platform where loan dealings can be done in a faster and more advanced way. Because of this initiative the markets will see a new revolution in the Fintech Industry.

Being in the Industry for many years, the owners of the company realised that there were many gaps and inefficiencies in how the conventional lending system worked. So, in order to provide better solutions and efficient systems they came up with the Digital version by launching an integrated end-to-end lending platform that supports SMEs, lenders and loan consultants throughout the lending process.

This new venture aims to provide innovative methods of connecting different players in the funding marketplace.

Services provided

Bluecell has been proactive in understanding the pain points and difficulties faced by Borrowers, Lenders, and Brokers during the SME loan process and hence deviced a platform to cater to their problems and provide a solution which integrates all the intermediaries together through a common platform.

Many SMEs who want to grow and pursue digital transformation often lack the necessary financial acumen to understand the process involved. They might be unaware of alternative financing options available in the market. Other tasks such as checking loan eligibility, applying for a loan, or negotiating with multiple lenders at the same time effectively also prevents SMEs from receiving financing. The often complex and lengthy document submission to different lenders further complicates acquiring financing.

Many Lenders without a centralised platform, have limited reach capabilities and are often unable to access a larger market. The reliance on manual document processing lengthens the process of loan application such as checking loan applications that don’t meet underwriting criteria leads to resubmissions. Verification of submitted financial documents also delays loan processing time.

Many Brokers face communication problems due to multiple channels involved which results in communication inefficiency between brokers and lenders. Information from varied sources limits brokers’ ability to stay up to date with the current lending criteria or policies. Brokers also have limited contact with new lenders due to evolving players in the market and various financing options.

Keeping the above concerns in view Bluecell is launching a Centralised Ecosystem for Borrowers, Lenders and Consultants. This will be an end-to-end lending platform with a funding marketplace that brings together diversified financing options from multiple lenders.

For SMEs

The solution caters to all types of SMEs, from young enterprises to growing companies and well-established organizations at all levels of financial standing. The process of loan application is simplified and happens entirely online in a secure environment.

When looking for financing, SMEs simply set their financial capability and get matched with financing options that fit with their needs. The necessary information is generated automatically in an electronic format. Borrowers see a summary of product features for all matching loans, which increases transparency.

For Lenders

The Bluecell platform serves as an additional digital sales channel for lenders, expanding the market reach and loan application sources. A secure online environment helps in document management and ensures data integrity. Bluecell delivers data-based insight into loan offers and other assets, letting lenders improve the performance of their products.

For Brokers

Bluecell features a CRM platform that aggregates all lender offers in one place, helping brokers manage their relationships more efficiently. Additionally, brokers have access to a considerable pool of lenders and can find a matching offer faster. The information on basic loan criteria and product features for different financial institutions is up-to-date and easily accessible. By reducing application reworks and errors, the platform lets brokers improve the lending experience for their clients.

Technology Advancement

Bluecell intelligence has ensured that its initiative for Digital transformation should be coupled with the latest technology available in the market as it has a future looking perspective. This can be justified by its collaboration with many establishments and participation of other eco-participants, like Govt Bodies, Auditors, Law firms, Trade Insurance Providers, Accounting Software Providers, etc. This will ensure seamless processing through the lending ecosystem. Loan origination, authentication and approvals can be done faster within the platform.

Blockchain

With the implementation of Blockchain technology, it will assure all parties of the authenticity of information in various parts of the lending process. This will add confidence in the process and reduce the cost of doing business. Lenders spend a significant amount of labour and cost to verify the authenticity and this will be a thing of the past with Bluecell.

Identity Verification

Singapore Govt Tech has launched MyInfo which is a one stop source for government verified personal information to identify the borrowers. Bluecell has tied up with them so that it will provide the authentication and instant retrieval of required information.

Corporate Responsibility

In view of the recent Covid-19 situation, SMEs are forced to go online and adopt new operations and sales channels. As a part of Bluecell Support and Corporate Responsibility to SMEs, the platform will provide free services to the first 200 SMEs to overcome the unprecedented challenges during this crucial period. So please visit the website (www.bluecell.sg) for early sign ups.

Neobank Unifimoney selects Nium to provide international remittance capability

The collaboration with Nium will provide Unifimoney’s customers with the ability to send funds globally and in real-time[1]

SINGAPORE, Oct. 21, 2020 /PRNewswire/ — Global fintech infrastructure platform Nium and Unifimoney, a San Francisco-based neobank, have entered into a partnership that will enhance the outbound money transfer experience for Unifimoney users. The partnership will expand Unifimoney’s capabilities, introducing convenient, secure, and real-time[2] global payment capabilities to customers of Unifimoney.

While new technological advances and the continuing inefficiencies of traditional banks have given rise to dozens of neobanks, most have yet to tackle the challenge of international money transfers. With more people turning to digital financial tools, and increased competition from other digital payments providers, there is a need for neobanks to step up their offerings and capabilities to stay ahead, and Unifimoney is looking to offer their customer base yet another reason to make the switch.

The international money transfer capability provided by Nium will supplement Unifimoney’s solution for automated money management across saving, spending and investing. Unifimoney users will be able to send funds overseas to major corridors in Europe and Asia easily within the app, and at a much lower FX rate than banks.  

“In today’s competitive payments environment, new technology makes an incredible difference in delivering the best customer experience, and we are thrilled to be the trusted provider for international money transfer services for Unifimoney and its customers,” said Gabriel Grisham, Vice President & Head of Business Development, the United States of America, at Nium.

“Nium’s mission is to create a global fintech infrastructure that can enable banks, financial institutions and other fintech companies to launch and scale innovative digital financial services without the complexity, time and cost previously required to do so. This partnership with Unifimoney to enhance their payments capabilities beyond the US is a testament to that effort,” Gabriel continued.

“The Unifimoney user is a high-earning, highly educated professional, often in tech or medicine. Many have already asked about sending money to friends and family back home, so we’re very excited to deliver the best-in-class solution for global payments by partnering with Nium,” said Ben Soppitt, founder and CEO of Unifimoney.

[1] In markets where Nium offers real-time services. For full details, please visit: https://www.nium.com/network/

[2] In markets where Nium offers real-time services. For full details, please visit: https://www.nium.com/network/

About Nium

Nium is a global financial technology platform redefining the way consumers and businesses send, spend and receive funds across borders. The company is continuously innovating to provide the most relevant and agile solutions to meet the needs of consumers and businesses, having evolved from solely focusing on consumer remittance via InstaReM, to also providing fintech solutions for businesses. Nium is regulated in Australia, Canada, European Union, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, United Kingdom and the United States of America, and processes billions of dollars a year for banks and payments institutions, the next generation of e-commerce players, OTAs and retail users across the world. Nium’s investors include Visa, BRI Ventures, Vertex Ventures, Vertex Growth, Fullerton Financial Holdings, GSR Ventures, Rocket Internet, Global Founders Capital, SBI Japan, FMO (Netherlands Development Finance Company), MDI Ventures, Beacon Venture Capital and Atinum Investment.

For more information, visit: http://www.nium.com.

About Unifimoney

Unifimoney offers high-performance banking: a single mobile account that seamlessly integrates a high-yield checking account, a credit and debit card, and investing. Unifimoney offers users a rich set of features and functionality combined with the simplicity of automation. Serving professionals in the legal, medical, financial and tech fields, Unifimoney is in private beta from April 2020. www.unifimoney.com

Media Contacts

Nium
Gillian Loo
Gillian.loo@nium.com
+65 9863 8120

Unifimoney
Joseph Bien-Kahn
joey.bienkahn@unifi.money 

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Daszyńska-Muzyczka, BGK: The European Three Seas region is one of the fastest growing in the world

WARSAW, Poland, Oct. 21, 2020 /PRNewswire/ — The Three Seas region is one of the fastest growing in the world and the Three Seas Initiative Investment Fund (3SIIF) is its investment vehicle for financing long-term infrastructure projects – Beata Daszyńska-Muzyczka, chairperson of the Supervisory Board of the 3SIIF and president of the Polish Development Bank BGK said during the Three Seas Summit in Tallinn (Estonia).

“We set a clear goal for the Fund – developing cross-border infrastructure investments in the region. The infrastructure gap in order to match the quality of Western European infrastructure is almost EUR 600 bn. The Fund targets three main sectors – energy, transport and digital infrastructure. Improving connections between our 11 countries are key to building economic growth” – said Daszyńska-Muzyczka.

In order to achieve the ambitious goals, BGK in cooperation with all development banks in the region initiated an international investment fund – the Three Seas Initiative Investment Fund. “Thanks to great collaboration and relationships with banks and promotional institutions in the region we built the basis for the Fund – its legal framework and strategy” – added Daszyńska-Muzyczka. Alongside local governments as cornerstone investors, the Fund aims to stimulate private capital to the region, on a commercial basis.

The founding act of the Fund was signed in May 2019 under Luxembourg law by the Polish Development Bank BGK and the Romanian EximBank. In 2020 they were joined by the Estonian government and the Latvian development institution Altum. The Fund is now fully operational with an independent investment committee.

The core sponsors analysed the market and chose professional infrastructure investment advisor with proven track record – Amber Infrastructure Group. Amber is responsible for project management, fundraising and origination for the Fund.

 “We are extremely pleased that at the Tallinn Summit additional commitments to the Fund were announced by Hungary, Slovenia, Bulgaria, Lithuania, Croatia, the US International Development Finance Corporation and the Fund’s Investment Adviser, Amber Infrastructure Group.  Poland, through BGK, was also delighted to announce it had increased its investment in the Fund.  The Fund is open to international financial institutions, as well as private institutional investors globally. This is a commercial and market driven initiative” – said Daszyńska-Muzyczka.

More information can be found at www.3siif.eu

Contact BGK:

Anna Czyż, media@bgk.pl, phone number +48 609 220 208

Related Links :

http://www.3siif.eu/

Embedded finance- AIZEN's AI banking-as-a-Service

‘AIZEN’ AI banking-as-a-Service, Empowering data platform to launch lending services

SINGAPORE, Oct. 20, 2020 /PRNewswire/ — The financial services industry has seen drastic technology-led changes over the past few years. While some of the big tech giants have launched their own Fintech verticals, there are many brands that are also increasingly looking to offer financial services to their customers. These companies tend to partner with existing financial institutions and resell their financial products, but many fails to offer a seamless onboarding experience mainly due to partner banks’ legacy processes. 

Embedded Finance, as opposed to reselling financial products, is becoming more attractive to brands. It enables any non-financial companies to integrate innovative financial services into their offerings. This creates new revenue opportunities at low marginal costs for the brands that already have a large customer base and enables new customer experiences that drive loyalty and purchases.

Embedded finance- AIZEN's AI banking-as-a-Service
Embedded finance- AIZEN’s AI banking-as-a-Service

AIZEN, a leading provider of banking-as-a-service platform, has partnered with companies in Southeast Asia including leading e-commerce in Indonesia and e-wallet platform in Vietnam to provide an Automated Banking Operating System (ABOS) focusing on lending. The company is working with Balance Sheet providers (both banks and non-banking entities) and will act as an intermediary for all other processes related to the end-to-end credit lifecycle. ABOS is built on a robust risk management framework that automates the core operations from product design, credit acquisition, portfolio management and collection, and allows banks and brands to take proactive measures on the economic downside risks amid COVID-19.

According to the latest report by Google, Temasek and Bain & Company, digital financial services in Southeast Asia is expected to generate revenues of about USD 38 billion by 2025. Digital lending has also gained momentum as we enter the “contactless economy” after COVID crisis, and it will offer the majority of revenue opportunities. 

AIZEN has recently raised from a government-led fintech innovation fund (KGIC, also known as K-Growth) led by major banks including KB, Shinhan, Woori and NH, which brings the company’s total funding to USD 10 million including USD 3.5 million in R&D grants. The company plans to roll out Banking-as-a-Service (BaaS) primarily targeting the underserved markets in Vietnam, Indonesia, Singapore, and Taiwan.

For traditional lenders, the absence of credit history has meant a limited risk appetite for lending to this segment. Using proprietary AI technologies, AIZEN is able to better underwrite customers by converting non-traditional sources of data into credit-related data in Finance. This is powered by ABACUS, an AutoML platform in finance that is specifically designed to accommodate the fast-changing customer dynamics in real-time. 

Founded in 2016, AIZEN has been working on digital transformation projects with financial institutions including loan underwriting, transaction fraud detection, and insurance claim analysis. The company has joined Plug and Play APAC Fintech Batch in Singapore and has been named by Gartner as a Cool Vendor in AI for Fintech for high scalability and easiness of adoption. AIZEN is also a member of Intel’s AI Builders Program and is optimizing the solution with access to Intel’s latest technology and engineering expertise. “We will strategically expand our banking service with our AI operating model and will service our new AI-powered banking model in Vietnam, Indonesia, Singapore, and Taiwan,” said Jung Seok Kang, CEO at AIZEN.

VisIC Technologies raises Series E to support growing EV market

The new financing round will allow the emerging GaN power electronics supplier to deliver high performing GaN products to growing electric transportation industry segment

MediaTek to invest in VisIC’s series E

VisIC’s D3GaN technology developed for electrical vehicles systems will enlarge its offering using the last investment round

NESS ZIONA, Israel, Oct. 20, 2020 /PRNewswire/ — VisIC Technologies Ltd., a global leader in gallium nitride (GaN) devices for automotive high-voltage applications, has successfully raised a Series E financing round with participation from  MediaTek, the world’s 4th largest global fabless semiconductor company. This round of financing will help the company to enlarge its portfolio for Electrical Vehicles high power systems.  

“This round of financing will help us to enlarge our portfolio and continue to develop a solid manufacturing foundation for existing products” said Dr. Tamara Baksht,  VisIC CEO. “We are very happy to see MediaTek as part of VisIC investors. As a great innovative fabless company, MediaTek is a constant source of inspiration for us to work harder and to deliver new technological solutions to make meaningful changes in industry and life. We have a lot to learn from MediaTek how to grow innovation and make a difference in the mutual Automotive market”, added Dr. Tamara Baksht.

MediaTek, which its dedication to innovation and has positioned itself as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions, and a broad range of advanced multimedia products, invested in VisIC and will contribute from its experience to accelerate VisIC’s innovation and sales.

“VisIC has impressive innovation and development around GaN for high power electric vehicles that improves the efficiency and performance, from hybrid up to full electric applications. We believe this technology is key to improve electric vehicle performance and affordability,” said Dr. Lawrence Loh,  Senior Vice President of MediaTek.

This press release and further information can be found at www.visic-tech.com

About VisIC Technologies Ltd.

VisIC Technologies is a world leader in GaN electronics for xEV applications, focused on high-power automotive solutions. Its efficient and scalable products are based on deep technological knowledge of gallium-nitride and decades of experience. VisIC is committed to providing a step function improvement in terms of size and cost of energy conversion systems and is dedicated to high-quality customer support at all development phases. VisIC offers high power transistor products based upon compound semiconductor Gallium Nitride (GaN) material aiming to provide products for cost-effective and high-performance automotive inverter systems.

About MediaTek Inc.

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FICO Survey: Complexity and Cost of Validating Digital Banking Customers Top Pain Points for Lenders in the Philippines

50 percent of Philippine banks say processes are still too manual

MANILA, Phillippines, Oct. 20, 2020 /PRNewswire/ —

Highlights:

  • The FICO Identity in Digital Banking Survey examines how banks in the Philippines are approaching the validation of a customer’s identity during origination
  • 50 percent of Philippine banks said the high level of manual handling was the key challenge when validating a customer’s identity
  • Forcing Filipino consumers to leave their chosen channel will lose a bank business.
  • Authentication strategies at Philippine banks are driven more by security than by regulation

FICO, a global analytics software firm, has released its Identity in Digital Banking Survey, which found that the complexity and cost of validating the identity of digital banking customers are the top pain points for banks in the Philippines.

Almost 50 percent of respondents surveyed nominated the ‘high level of manual processes to validate customer identities’ as their top challenge along with ‘consistent collection of supporting data/documents’ and the ‘need for physical validation of identity’. The ‘time taken to verify identity’ and the ‘cost of third-party verification services’ were nominated by more than 40 percent of respondents.

More information: https://www.fico.com/en/latest-thinking/ebook/malaysia-and-philippines-banking-survey-2020

“Identity challenges are intensifying with digital banking,” said Subhashish Bose, FICO’s lead for fraud, security and compliance in Asia Pacific. “You can see from the survey that many Philippine banks still have issues with manual processing that slows down the process, introducing friction into digital applications,” said Bose. “Indeed, a third of banks still force customers to go to a branch to open a personal bank account. However, lenders will need to shift toward identity verification that is seamlessly integrated into the digital application process and can be rapidly confirmed or risk losing business.”

FICO’s previous consumer study found that a large percentage of Filipinos (45 to 67 percent, depending on the action required) said they should be able to complete all aspects of account opening online or on their phone. In fact, if all actions required to complete an account opening could not be accomplished in-session, only 41 percent of Filipino consumers said they would carry out the necessary offline actions as soon as possible. A further 13 percent said they would try a competitor while 5 percent said they would give up completely.

“Filipinos are comparing their banking experience not just to other lenders but to other digital businesses,” said Bose. “The notion that banks can afford to ignore delivering the kind of instant gratification delivered by companies like Uber, Netflix, and Amazon just because they are selling financial products will disappear this decade.”

Concerns about Authentication

Authentication strategies at Philippine banks are driven more by security than by regulation; concern over the sophistication (50 percent) or volume (29 percent) of attempts to breach access controls is much higher than in the other seven countries surveyed, where, on average, concern levels for sophistication are 43 percent, and volume 30 percent.

This can partly be explained by fewer and less onerous guidelines or legislation around authentication such as those in the US, Canada, and Europe. However, if criminals are successful it will be only a short time before Filipino regulators impose more rules around authentication.

“Another issue here is that many banks in the Philippines are not making separate fraud and authentication decisions,” said Bose. “They are less concerned with user experience and therefore will ask a customer to authenticate again for a particular action which they consider high risk, even if they have already been identified in the same session.”

Technology challenges are also impacting the ability of Philippine banks to authenticate customers. The survey revealed that banks feel the time taken for systems change is a problem (45 percent), as well as inflexibility around identity approaches (45 percent). This may be due to rapid innovations in authentication and the number of technologies deployed (biometric authentication, for example, is deployed in 93 percent of respondents).

“Philippine banks are often torn between the deployment of multiple point solutions that require integration and broader platforms that span authentication but don’t play well with third-party systems,” said Bose. “New-breed platforms that allow innovation with AI and integrate more widely are now seen as the next step. A strategic consolidation is needed, and banks will have to determine which technologies are proving effective both internally and with customers to gain an edge over their competition.” 

The survey showed that adoption of this strategic approach is already underway. While only 7 percent of banks say they currently have a common identity management platform or orchestration layer, 78 percent of banks say that they have ambitions to make the move within the next three years

FICO’s Identity in Digital Banking Survey was produced by Omdia via an online study with 172 banks in May 2020. Executives who had direct involvement in their institution’s approach to identity and authentication for digital banking channels were surveyed. The countries surveyed were: Canada, Colombia, Germany, Malaysia, Mexico, Philippines, UK and the USA. 14 Philippine and 15 Malaysian bank respondents with a minimum of 500k customers were surveyed, and more than one-third of respondents had over 10 million customers.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Join the conversation on Twitter at @FICOnews_APAC.

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries     

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