by Ferry Bayu | Feb 26, 2024 | Business
Venture Z had 318 participating teams from more than 40 countries.
RizqX is live with 44 Shariah-compliant investment options listed.
Singapore, 26 February 2024 – RizqX, Singapore’s pioneering gateway to halal investments, clinched 2nd place at Venture Z, against 318 participating teams from more than 40 countries. The startup competition was organised under the esteemed patronage of His Royal Highness, Prince Mohammad bin Abdurrahman bin Abdulaziz, by Prince Sultan University as part of the 2nd International Conference on Sustainability: Development and Innovations (ICSDI) 2024. ICSDI 2024 was held in Riyadh, Saudi Arabia from 18 to 22 February 2024.
Under the competition track 4 social entrepreneurship, RizqX aimed to promote financial inclusivity in Singapore and SEA by empowering Muslims with the knowledge and tools to make informed financial choices while adhering to the Shariah principles. This is made possible by curating an extensive range of Shariah-compliant investment options from diverse global institutions and consolidating them into an all-in-one platform. The platform also provides detailed independent reviews, as well as educational resources for the community. As of February 2024, stage 1 of RizqX is live with 44 investment options.
“Our platform captured the panellists’ hearts as it solves a real gap in the SEA Muslim market. The community is facing monetary and time loss attempting to find investment options in harmony with Shariah values. Current options are scattered and there is no holistic comparison platform for informed decision-making. We look forward to increasing accessibility and financial literacy of the community for informed decision-making,” said Muhammad Ridhwaan Radzi, CSAA, Managing Director, RizqX.
Muhammad Nur Salihin Bin Samsudin, COO, RizqX added, “We are honoured to be able to make Singapore proud on an international stage. This win is a significant step for the team as it highlights a real demand not just in SEA but in the Middle East as well. We look forward to growing our market steadily, starting with Singapore.”
RizqX is grateful to NTU Entrepreneurship Academy (NTUpreneur) and NTUitive for making this trip to Riyadh possible. Thank you to Prince Sultan University for the warm hospitality.
This Press Release has also been published on VRITIMES
by Ferry Bayu | Sep 12, 2023 | Banking, Finance, and Cryptocurrency
Samunnati partners with Singapore-headquartered fintech finbots.ai to transform credit risk management using AI
finbots.ai’s credit modelling solution, creditX, will enable Samunnati to build high quality credit risk scorecards faster, accelerating growth of Agri & SME lending business & driving financial inclusion.
Samunnati, India’s largest agri
enterprises, today announced signing an agreement with Singapore-headquartered
B2B SaaS FinTech finbotsAI, to transform credit
risk management using AI.
With this, Samunnati becomes the
first Agri Enterprise in India to incorporate advanced AI-based solutions into
a key pillar of its business, supporting its mission to drive greater financial
inclusion for smallholder farmers and agri enterprises. Through this
partnership, Samunnati has become the first client of Accel-backed finbotsAI in
India.
With creditX, finbots.ai’s
AI-powered credit modelling platform, Samunnati will be able to develop high
accuracy custom credit models on demand, enabling them to scale their agri and
MSME supply chain financing business with reduced risk. Samunnati will also be
able to process new applications instantly, resulting in improved efficiency
and greater agility in operations.
Samunnati made the decision to
sign with finbotsAI after an extensive evaluation via a Proof-of-Concept using
historical data. With creditX, finbots.ai was able to reduce model development
time from 3 months to 4 days with a significant increase in predictive
accuracy, demonstrating potential upsides in revenue and operating
efficiencies.
Commenting on the partnership, Anil
Kumar SG, CEO and Co-Founder, Samunnati, said, “We believe that
innovation is the key to solve the access to finance paradox and to unlocking the potential of Indian
agri. The partnership with finbotsAI aligns perfectly with our vision of
leveraging technology to serve our customers better and contribute to the
growth of the Indian Agri.”
Sanjay Uppal, Founder & CEO, finbots.ai commented, “We are proud to make our foray into an exciting market like India
with an industry leader in Samunnati. We have seen enormous success in enabling
lenders in Southeast Asia and Africa to safely lend to new segments and
accelerate financial inclusion and are confident our transformative AI
platform, creditX, will have a similar impact in India. We are seeing creditX
become a preferred option for lenders globally, and this deal reinforces the
desire for cutting-edge technology solutions that solve legacy challenges.”
With this deal, finbots.ai’s fast
growing client base stretches to 10 countries across APAC and MEA markets while
Samunnati strengthens its credit-risk management using world-class AI-enabled
platform.
finbots.ai is an Accel Portfolio FinTech company with a mission to help lenders drive profitable lending and financial inclusion with creditX, our AI-powered platform to rapidly build high accuracy risk scorecards.
creditX is used by lenders across 4 regions, specifically Africa, Middle East, APAC and Australia, and by the full spectrum of lending companies, including digital banks, SME lenders, agri-lenders, consumer lenders and Credit Bureaus.
finbots.ai has been recognised among ‘Top 10 FinTechs in Singapore’ at the Monetary Authority of Singapore (MAS) FinTech Awards 2022. The FinTech is also part of PwC’s Partner Programme and a Featured Partner for Tata Consultancy Services.
finbots.ai is amongst one of the first FinTechs to have completed AI Verify, the world’s first AI Governance testing framework and toolkit developed by Singapore Government’s IMDA (Infocomm Media Development Authority) and PDPC (Personal Data Protection Commission).
finbots.ai is headquartered in Singapore and has offices in India (Hyderabad), the United Arab Emirates (Dubai), Indonesia (Jakarta) and Nairobi (Kenya).
For more information on finbots.ai, click here: https://www.finbots.ai/.
Suren Rastogi
M: +65 9736 8962
E: su***********@*****ts.ai
The PRactice – Farooque Shaikh
M: +91-9594777764
E: fa******@**********ce.net
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 28, 2022 | Business
For playing a central role in financially empowering its nearly 70 million users, GCash, the Philippines’ leading finance app, again makes a mark on the global financial technology industry as its president and CEO, Martha Sazon was included in The Financial Technology Report’s list of top 25 women leaders in fintech.
“I’m honored to join other amazing women leaders in the Financial Technology Report’s annual list. This recognition is a testament to GCash’s positive impact on the lives of our millions of customers. It also shows that women, if given the opportunity and platform to shine, can be great leaders for various organizations, especially in this increasingly more digital world,” said Sazon. “This achievement will spur us to further push the envelope in introducing more meaningful digital financial solutions and making sure nobody gets left behind in the digital economy.”
The Financial Technology Report is a New York City-based news agency covering business, investment activity, and corporate actions related to the financial technology industry. It describes itself as, “run by a seasoned team of editors, writers, and media professionals highly knowledgeable on financial technology and the various companies, executives, and investors that make up the sector.”
In an article on its website, the Financial Technology Report said, “thousands of new fintechs are launched each year, but only a small percentage demonstrates the staying power to last in such a competitive market. While many begin with truly great ideas, it takes much more to build a successful company. To make it in the long run, fintechs need to acquire financial support, get the word out through marketing, and constantly be innovating—not to mention ensuring that their operations run efficiently and that they remain in compliance with regulations. And for all of these necessities, great leaders are essential.”
Sazon was appointed as CEO of GCash at the height of the pandemic in 2020. Her focus on customer centricity resulted in GCash becoming a lifeline to millions of Filipinos during a time when many lost their jobs. Under Sazon’s leadership, GCash has become the Philippines’ first and only “duacorn,” or a company with a valuation of $2 billion. It’s also become the country’s biggest e-wallet with a registered user base of nearly 70 million.
Sazon has also doubled down on making sure GCash is able to make Filipinos’ everyday lives better enabling the fintech firm to provide meaningful digital finance solutions that empower people and organizations – helping 63% of Filipinos who are unbanked.
Prior to leading GCash, Sazon had 20 years of experience in various fast-moving consumer goods industries like food, pharmaceuticals, personal care, and telecommunications. She spent 12 years at Globe Telecom, the largest mobile network in the Philippines, where she headed the Broadband business and pioneered many breakthroughs and achievements for a wide array of products.
Previously, Sazon was also named “Philippines: CEO of the Year” at the IDC Future Enterprise Awards 2021. Earlier in 2022, she was recognized as a “Master Innovator for Digital Transformation Innovation” during the 2nd Annual Mansmith Innovation Awards and Summit.
About GCash
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 69M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.
GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 69M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.
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