Experian, the world leader in information services, announced today that the inaugural Asia Pacific edition of its signature Vision Conference will be coming to Singapore next year. VISION2020 Asia Pacific (APAC) will be held at the Ritz Carlton Hotel in Singapore on 5th and 6th February 2020.
For the past 38 years, Experian’s Vision conference in North America has been connecting business leaders to innovative ideas and solutions to help them target new markets, grow their customer bases, and reduce fraud. The event has also hosted world-renowned keynote speakers including Apple’s co-founder, Steve Wozniak, former US president, Bill Clinton, and five-time NBA champion, Kobe Bryant.
Next year, under the theme “Future favours the BOLD – Innovating for tomorrow”, VISION2020 APAC is where leading minds from the banking and fintech industries will converge to examine how companies can navigate the next phase of digital finance and build a BOLD future powered by data, technology, and analytics.
A thought leadership platform dedicated to the most salient business developments, VISION2020 APAC will shine a spotlight on major shifts that are reshaping the region and the significant growth opportunity that lies with the application of data assets today, to enable the provision of better services. Curated sessions on topics such as Fraud and Open Banking — two of the six conference themes — will help business executives gain a better understanding of the new banking paradigm that is ushering in the next phase of consumer finance in Asia Pacific.
The conference will also feature a dedicated space for technology showcase, where attendees can discover the latest solutions from Experian’s X Labs innovation hub. Built to address customer pain points, X Labs is home to some of Experian’s most cutting-edge technologies for Open Banking, Agriculture, Alternative Data Scoring, Predictive Analytics, and more.
Ben Elliott, Chief Executive Officer, Experian Asia Pacific, said: “We are delighted to bring our flagship conference to Asia Pacific, a fast-growing market with access to an amount of data unrivalled in size. VISION2020 APAC will catalyse important conversations around the unprecedented business opportunities offered by the data economy through sessions on Open Data, Autonomous Analytics, and Alternative Data. We look forward to inspiring our customers, partners, and industry luminaries to take on a bold approach as we navigate through these exciting times together as a region.”
Attendees can expect unparalleled networking potential and learning opportunities with a two-day programme featuring expert presentations, technical workshops, innovation showcases, and panel discussions led by the top minds of the industry.
The speaker line-up features some 50 industry experts and leaders including senior representatives from ANZ Bank, Boston Consulting Group, IDC Financial Insights, Open Bank, WeLab and many more. Notable thought leaders such as Alex Manson, Global Head, SC Ventures; Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore; Steve Leonard, Founding CEO of SG Innovate; and Malcolm Rodrigues, CEO & co-founder, MyRepublic, will also be speaking at the event.
Sharing the stage with the distinguished guest speakers is Experian’s team of senior global executives including Brian Cassin, Group CEO; Ben Elliott, CEO, Asia Pacific; Alex Lintner, Group President, Consumer Information Services; and David Britton, Vice President, Industry Solutions, Global Fraud and Identity.
In addition, attendees will also hear from guest speakers including Lewis Hamilton, five-time Formula One world champion, and Sachin Tendulkar, former international cricketer considered as one of the greatest batsmen in sport’s history.
Visit the official VISION2020 APAC website for the latest updates on the conference and use the hashtag #ExperianVision2020APAC to join the conversation on LinkedIn. Register by 30 November to enjoy early-bird rates at USD1,295. This conference is also supported by the Singapore Exhibition & Convention Bureau, a part of Singapore Tourism Board.
InfraRisk Expands Auto Financing Cooperation with Toyota Finance, Taurus Motor Finance
InfraRisk Pty Ltd. (InfraRisk), a leading supplier of credit management solutions in Australia, today announced it has expanded cooperation in auto financing with Toyota Financial Services to Germany and Austria to facilitate its credit process when lending to dealerships and large fleet customers.
Toyota Financial Services is a wholly owned subsidiary of the world’s largest carmaker Toyota Motor Corp, specializing in offering a comprehensive financial services lineup that caters to customers’ diverse needs while strengthening the core auto sales finance operation.
Nicholas Davies, founder and CEO of InfraRisk, said, “These two new European deployments complement existing ones in Europe and Australia demonstrating our platform’s ability to operate across multiple geographies catering to a range of country specific factors including policies and languages, with modularity being the key architectural design.”
InfraRisk has been in partnership with the car loan provider since 2016, offering them a fully featured credit management platform – Credit Value Maximiser, or CVX, to Toyota’s broad base of customers.
The modularized tool is built around key origination functionalities, from profile to pricing, with each module connecting via defined APIs. By harnessing the power of big data analytics, cloud computing and artificial intelligence, InfraRisk’s auto financing solution will enable a more efficient and effective, as well as regulatory compliant credit process.
Meanwhile, InfraRisk announced today a new partnership with Taurus Motor Finance, a start-up car loans provider based in Australia with a digital, automated and real-time credit assessment and approval process. The lender is implementing InfraRisk’s cloud-based and intelligent CVX platform to facilitate its commercial lending business as it looks to scale up operations.
“InfraRisk’s deep experience in the auto finance sector along with the system readiness to manage the capture of industry specific data fields has grown us into a leading provider of auto finance SaaS solutions,” said Victor Li, head of Pintec International Business. “We will continue to invest in the ongoing research and development with committed efforts and build the platform into a smarter and more advanced tool catering to particular ecosystems.”
InfraRisk is a wholly owned subsidiary of Pintec Technology Holdings Limited (“Pintec”, Nasdaq: PT), a leading fintech solutions provider that specializes in intelligent retail finance covering point-of-sale installment loans, personal loans, SME loans, corporate and commercial segments, wealth management and insurance services.
Montreal Fintech FlexPay Raises $6M from Impression Ventures and BMO Capital Partners
FlexPay—which uses AI and machine-learning to help merchants recover lost revenues from declined transactions—is proud to announce they raised $6 million dollars, led by Impression Ventures, with participation from BMO Capital Partners, Anges Québec and strategic partners.
Credit card issuers report that 24% of recurring credit card transactions are falsely declined, costing online and telephone merchants $300 billion in lost sales and customers in the US alone. A false decline is a transaction that should have been approved, but wasn’t, for reasons out of the customers and merchants control. As the economy continues to shift to online and subscription-based revenue, this problem for customers and merchants is only getting bigger.
Using AI and machine-learning, FlexPay analyzes billions of transaction records to reverse-engineer exactly why risk-mitigation systems are falsely declining transactions. FlexPay then uses this real-time data to optimize credit card recovery and get valid transactions approved.
“Before learning about FlexPay, we didn’t know decline-salvage firms existed, to be honest. When we learned FlexPay’s fees are only charged on additional recovered customers, it was an easy decision for us at Masivo,” explains President Noam Egosi of Masivo Media. Following FlexPay’s integration, Masivo’s salvage rate rose from 10.0% to a staggering 42.4% average since March 2019, representing a 324% performance improvement. As a subscription business, this notable spike in recovery has also produced a 12% jump in precious LTV (Lifetime Value), and increased Masivo’s bottom-line profitability by 50%. “I tell everybody that will listen to us, to use FlexPay,” Egosi enthusiastically beams. “We’re big fans.”
“2019 was a year of significant in-roads,” reflects Darryl Hicks, CEO of FlexPay. “We surpassed the 2 million declines-processed mark and multiplied our integration points 8-fold, giving us access to a pool of 4 billion dollars in annual declines, 40,000 merchants and 80 million end-customers. The next logical step was to invite venture partners to join us and add their capital and expertise to accelerate us to help billions of end-customers get their transactions approved.”
Impression Ventures, based in Toronto and Montreal, led the round, marking their first investment in Montreal. “We believe FlexPay to be the best-in-class solution in a massively underserved market,” reflects Maor Amar, Managing Partner, “The company’s AI powered systems provide a solution to the large and rapidly growing problem of false credit card declines. FlexPay’s management team has an impressive entrepreneurial track record, in depth knowledge of this market and the passion and energy required to succeed. We are thrilled to join them on this journey.”
BMO Capital Partners added: “we are happy to support a talented team, committed to solving a real problem in the e-commerce space with state-of-the-art technology.”
“We thank our advisors, investors and board members for their ongoing help with FlexPay’s vision and traction,” adds CFO Laurent Binda. “Securing this specialized group of institutional investors gives us the capital, experience and network we need to accelerate our progress in solving falsely declined credit card transactions.”
35 Innovative Products, Services and Organizations Honoured International Innovation Awards 2019 in Singapore
Enterprise Asia announced the winners of the International Innovation Awards 2019 in Singapore. Thirty five products, services and organizations are named as award winners from over 160 submissions.
Among the notable recipients of the InnoCube are AIA Malaysia, Taiwan’s HIWIN Technologies Corp., Singapore’s Olam International Ltd., Philippines’ Unilever, Indonesia’s PT MRT Jakarta, and United Arab Emirates’ Roads and Transport Authority.
“There are not conventional ‘innovations’. When we set out to identify winners of the IIA, our goal is to present a broad spectrum of innovations that could spur greater innovation in the recipients’ respective countries and industries. Just as innovation itself is continuously self-redefining, the awards are meant to promote continuity in innovation,” said Dato’ William Ng, president of Enterprise Asia.
“Innovation is moving faster than at any other point in history. Organizations cannot afford to rely on current practices and hope that they will work in the future. Organizations that fail to innovate are setting themselves up for failure,” Ng added.
“The award recipients also receive the InnoMark, the global certification for innovation. The InnoMark, like the International Innovation Awards, adopts our proprietary 8-Dimension of Innovation – which includes areas such as defendability and enforceability, impact and measurability as well as ideation and creativity. This will not only help define the best practice in innovation but provide a platform through which companies could showcase the results of their innovation,” shared Ng.
Organized annually by Enterprise Asia, the International Innovation Awards is among the most coveted global awards for innovation, and aims to recognize best innovations in the categories of Product, Service & Solution, and Organization & Culture. This year’s judging panel include Martin Daffner, founder of Innobrix, Professor Nadia Thalmann of Nanyang Technological University, Professor Natcha Thawesaengskulthai of Chulalongkorn University, Makoto Shibata of FINOLAB, The FinTech Center of Tokyo and Anna Simpson of Flux Compass.
In conjunction with International Innovation Awards 2019, Enterprise Asia also organized the International Innovation Summit 2019, themed “Innovation Trailblazers: Creating for Disruption”, the summit convened over 400 innovation experts, industry leaders and policy makers over three days. Following two successful editions in Shanghai and Macau, the Summit is held in Singapore and supported by the Singapore government this year.
At the opening of the Summit, organizing chairman and former minister of human resources of Malaysia, Dr. Fong Chan Onn said that the Asian economy need to reduce its reliance on foreign technology and develop its own in order to insulate its economies against global events such as the on-going US-China trade spat.
According to Dr. Fong, “Companies wedded to the old business model lose ground, and some are pushed out of business. Challengers that embrace innovation gain advantage and will take a dominant position in the market. The goal of this year’s International Innovation Summit is not only to discuss what to expect from the future of disruption in innovation, but also in defining the innovation culture that we must adopt for our organizations to compete in this revolution.”
“More importantly, governments must urgently work with the private sector to define the innovation agenda for their respective economy, and to work with other countries for a regional framework to advance the culture of innovation in each country,” Dr. Fong said.
This year’s keynote speakers include Koert Breebaart, vice president of SAP Asia; Ken Ding, head of product innovation of Samsung Electronics; Yat Siu, founder and CEO of Outblaze and Animoca Brands; Ajay Mohan of Intel Corporation and Jing Jang of Haier Group Corporation.
The International Innovation Awards 2019 is supported by Singapore Tourism Board through Singapore Exhibition & Convention Bureau, Eastern European Chamber of Commerce (Singapore), The Coordinating Secretariat for Science, Technology and Innovation (COSTI) under the Ministry of Science, Technology and Research, Sri Lanka, Malaysian Investment Development Authority (MIDA), Ministry of Energy, Science, Technology, Environment & Climate Change (MESTECC), Malaysia, Malaysian Global Innovation & Creativity Centre (MaGIC), National Institute of Entrepreneurship and Innovation (NIEI), Royal of Cambodia, Singapore Malay Chamber of Commerce & Industry (SMCCI) and Singapore-Thai Chamber of Commerce; Singapore Airlines as official airlines; Resorts World Sentosa as official venue partner; PR Newswire as news release distribution partner; and BusinessWorld, Commercial Times, Kumparan, SME Magazine, Techsauce, The Nation and Tuoi Tre News as the official media partners.
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