The AI platform enabled CIMB to develop machine learning credit models for its retail portfolio, which strengthened the Bank’s credit risk modelling and retail underwriting capabilities across unsecured loan products. This led to improved quality of loan screening, resulting in reduction of credit loss.

The fully automated AI platform leveraged CIMB’s wealth of traditional and alternative data to develop machine learning credit models for the bank’s retail portfolio. With the sharper models, the bank is able to reduce credit loss by improving the default probability estimation for retail loan applications.

The collaboration commenced work in mid-2020 to structure the use case and connect historical and real-time data. AI models were subsequently built based on these use cases and data, with the solution deployed into production by end-2020. Within six months of the AI platform going live, CIMB observed multiple benefits, including lower expected losses and higher returns against capital in its retail loans segment.

The newly developed AI models were rigorously tested and validated before being utilised in production for decision-making. These models were also compared to traditional models across a set of three loan products, where the new AI models demonstrated significantly improved accuracy.

Vera Handajani, Group Chief Risk Officer, CIMB Group said, “Our new credit risk platform, driven by innovative use of AI, has reduced the cost of processing loan applications and is expected to reduce our credit loss by improved default probability estimation for retail loans. Within six months, we were already able to see tangible results and savings from this AI-driven approach, building on our momentum as we scale digital transformation across the organisation. This is in line with our focus on digitising for value under our Forward23+ strategic plan.

Simon Brender, Regional Vice President Asia, DataRobot said, “As competition between regional, global financial institutions and fintech intensifies across the region, AI is becoming critical for financial services institutions operating in the region to stay ahead of the competition. CIMB is leading the way in harnessing the power of AI to reduce risk, and we are proud the noteworthy results of our collaboration have been recognised by this prestigious award from The Asset.”

The Asset Triple A Digital Awards recognise financial institutions and technology firms that have excelled in innovation and have developed a unique digital experience for customers across the Asia-Pacific and the Middle East. The Asset Triple A Awards have been built upon a stringent methodology and a rigorous approach to selecting the winners. The awards are adjudicated by The Asset’s board of editors, who collectively have several decades’ worth of experience evaluating industry awards in the Asia-Pacific and the Middle East.

About DataRobot

DataRobot AI Cloud is the next generation of AI. DataRobot’s AI Cloud vision is to bring together all data types, all users, and all environments to deliver critical business insights for every organization. DataRobot is trusted by global customers across industries and verticals, including a third of the Fortune 50. For more information, visit http://www.datarobot.com/.

About CIMB

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM55.3 billion as at 31 December 2021. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, South Korea, the US and UK.

CIMB has one of the most extensive retail branch networks in ASEAN with 630 branches and around 33,000 employees as at 31 December 2021. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

#CIMB

The issuer is solely responsible for the content of this announcement.

HONG KONG SAR – Media OutReach – 9 June 2022 – A celebrated aesthetic medicine group in Hong Kong, Cellmax ( the “Company”) is pleased to announce that it will release 3,199 pieces of its exclusive and pioneer “Empower Beauties” themed limited-edition Non-fungible Tokens (“NFTs”) in the form of mystery boxes for members only in this July. The Company is firmly convinced that the character and profession of every individual woman are worthy of “Empower”, so this NFT series is called “Empower Beauties”. Cellmax is the forerunner to raise the newfangled concept of blockchain beauty named after “Beauty to Earn“, e ach membership NFT is an inimitable female persona . There is one particular NFT in the class attaches Black Card functions, its holder will be entitled with the privilege to enjoy the complimentary Botox (Botulinum Toxin) injection service for life. Cellmax aims to create an unconventional and unparalleled community for people who desire beauty, there users can regale themselves with premium and superior beauty services whilst demonstrating their distinct peculiarity and diverse beauty.

Click to view the Promotion Trailer of Cellmax “Empower Beauties” NFT

The limited-edition NFT beauty membership program of the Empower Beauties series will be gradually launched to the public in two phases. In the first stage, the initial batch of 3,199 Empower Beauty NFTs will be minted and publicly offered for sale. Cellmax claims that all the members who possess the Empower Beauty NFT membership can enjoy a 2-month entire Cellmax VIP experience. In addition to the priority to experience the most advanced tech beauty care, each member will be assigned an appointed beauty consultant and enjoy additional discount on all courses as well. Moreover, through the Beauty to Earn Point Redemption System, members can convert each consumption and experience points (EXPs) earned from participating in other events into Cellmax Coins^[1] and use to accumulate credits in the system. When it reaches a certain amount, the credits can be redeemed for beauty services, products, gifts or other NFTs of collaboration projects, etc. All Empower Beauties NFTs are stored through blockchain technology and permanently valid.

When the second stage rolls out, Cellmax will establish a branded beauty center in the “Metaverse”, formally extending the business scenarios from the physical world to the virtual space. Simultaneously, the Company will join forces with other eminent brands with both competency and reputation in the medical cosmetology industry to create a Beauty Metastudio. By animating all the tangible values such as services, products and sponsorships of these major brands as simulated treasures or rewards, players can collect and exchange them to apply in the real world afterwards. The Beauty Metastudio will dispark several priority experiencing zones for players to have a scooped glimpse and forestall forays.

Ms. Sindy Kwok , Director of Cellmax stated, “In the beginning, the idea of blending these two completely disparate conceptions of ‘blockchain’ and ‘beauty’, came after the witness of abrupt emergence and burgeon of the digital asset. Then it’s followed by the whim to make this originality to carry out marketing reform of the beauty industry. Our team came up with the concept of ‘Beauty to Earn‘ after many discussions on the fusion of blockchain and NFT, that means embracing beauty and earning benefits all along the way. The beauty industry is always a traditional consuming business, so if consumers can earn much more benefits in the virtue of attributes and security of blockchain while enjoying beauty cares, why not?”

Cellmax has been established for many years, widely recognized and affirmed by the industry for its service quality and business prestige. The Company is planning to set up more branches across districts. It is conspicuous that some front mega brands leverage NFT in their marketing blitz and yield brilliant effect, hence Cellmax has announced collaboration with NextGen Tech (“NGT”), a leading one-stop NFT project launcher in Hong Kong. Earlier on, the Company has taken the lead to station in the “Meta-Street Hong Kong” that created by NGT. This NFT-based block designs to cooperate with local artists, KOL, and renowned brands to expand the commercial and entertainment scenes to the Metaverse realm, then to pursue and fulfill the “MetaExperience” as well as echo the rising concept of ” Being Digital” . Mr. Francis Leung, CEO of NextGen Tech also added, “Each store in the ‘Meta-Street Hong Kong‘ is an NFT, its holder has the right to enlarge the scale, decorate the shopfront and transfer the location within the space. This indicates that Cellmax has already stepped into the Metaverse and Metaera as an NFT itself. In the future, we would like to steadily transform the offline services to online experiences, to build up a groundbreaking beauty community with bright outlook.”

About Cellmax

Cellmax is a celebrated aesthetic medicine group in Hong Kong, specializing in high-class scientific medical beauty treatments for clients. The Company adheres to its normative protocols to termly render the most edgy vocational training to staffs, and constantly upgrade in-house equipment and technology, striving to entrench its leading position in the industry. Cellmax engages in providing clients with the most transparent, thoughtful, and pleasing beauty journey, ensuring them the optimum state of skin and contour. At present, Cellmax has officially trod in the Metaverse, by enabling aesthetic medicine marketing through blockchain technology, it will usher the customers in a unique beauty-seeking exploration.

For more information, please visit the website: http://beautytoearn.io/
Official Discord: https://discord.com/invite/Mfcmhk3Xvh
Instagram page: https://www.instagram.com/empower.beauties
Email for inquiry: info@cellmax.com.hk

#Cellmax

Over 950 partners participated in the seven-day EPIC SALE event, which saw a growth on demand of over 13 times for international destinations

SINGAPORE – Media OutReach – 9 June 2022 – Traveloka, Southeast Asia’s lifestyle superapp, concluded with a big bang, which saw growth on demand for international destinations of over 13 times, and local staycation demand of over five times, documented in the seven-day sales event. The majority of deals included discounts of up to 80 percent off hotels, flights, airport transfers, attractions, playgrounds, beauty and spa products and more, supported by Traveloka products that came with attractive offers – Hotels, Flights and Xperience, with users claiming unbelievably epic deals for as little as SGD0 for a hotel stay!

This EPIC SALE was also the first from Traveloka Singapore to offer international deals, and we saw an uptick of sales to popular destinations, such as Bali, Bangkok, Ho Chi Minh City, Jakarta, Kuala Lumpur and Seoul. The revenge travel phenomenon was so strong that the most booked departure date from Singapore, purchased during the EPIC SALE, was 1 June 2022, followed by 3 June 2022 and 31 May 2022. Travelers wanted to travel immediately, and participated in the sale to grab further discounts and promotions during Super Epic Events, such as International Flash Deals and Accommodation Grand Bazaar Sales, that were available for a limited period only.

“We’re very grateful to see the overwhelming results and excitement from both our partners and users. The second EPIC SALE in Singapore has proven to break another record for Traveloka’s growth, as Singaporeans are exploring various options for staycations and overseas travel,” said Pascal Gekko, Vice President of International Accomodation at Traveloka. “Through this EPIC SALE, we are optimistic in our contribution to boost local tourism in Singapore, and to continuously support our hotel, attraction, and tour partners in various countries,” he added.

This year, Traveloka doubled down on attractive offers, due to post pandemic pent up demand as an avenue for individuals to receive exclusive deals on flights, accommodations, and holiday activities. Over SGD250,000 worth of vouchers were claimed during the sale period, with the biggest stacked voucher value in one transaction, amounting to SGD462.

Traveloka also stepped up its superapp strategy, by launching a new game Godwy Rush! where users needed to fly their Godwy Pet to collect daily rewards, of up to SGD264. The game saw a total of 5,600 vouchers worth up to SGD71,000 claimed, across bookings on Hotels, Flights, Attractions and more. Users also shared referral links in the Raise A Pet campaign to collect additional rewards of up to SGD230. This saw over 23,000 interactions between users, and over 70,000 visits to the page. The increase in referral rates is a strong indicator that shows the exponential growth of the user base for the lifestyle superapp.

Hotel Partner: “The EPIC SALE campaign allowed us to tap on Traveloka’s wider audiences that brought our partnership to greater heights during the post-pandemic era. The livestream captured the personality of our hotel in a storytelling way that maintained top-of-mind awareness in customers’ minds.” – Michelle Lee, General Manager, Hotel G Singapore

Xperience Partner: “Was very impressed with the EPIC SALE campaign. It had indeed helped to promote Wild Wild Wet as a place full of thrills and spills for the whole family, which saw an increase in bookings during the period. It is definitely a great opportunity to work with Traveloka.” – Wan Wai Yee, Revenue Management, Wild Wild Wet

About Traveloka

Traveloka, Southeast Asia’s lifestyle superapp, provides users access to discover and purchase a wide range of travel, local services, and financial services products. Traveloka’s comprehensive product portfolio includes transport booking services such as flight tickets, bus, trains, car rental, airport transfer, as well as access to the largest accommodation inventory in Southeast Asia, including hotels, apartments, guest houses, homestays, resorts, and villas, making Traveloka a booking platform with the widest selection of accommodation and packages.

Traveloka is also a key player in the local services category (currently specific to certain markets), offering reservations for a wide range of local attractions, activities, wellness and beauty clinics, culinary directories as well as food delivery. Traveloka also offers financing, payment, and insurance products to help Southeast Asian consumers fulfill their lifestyle aspirations. Traveloka provides 24/7 customer service in local languages as well as more than 40 different local payment methods. Traveloka lifestyle superapp has been downloaded more than 100 million times, making it the most popular travel and lifestyle booking application in the Southeast Asian region.

For more information, please visit: https://www.traveloka.com/en-sg/

#Traveloka

Razer Fintech’s acquisition of PT E2Pay Global Utama expands the organization’s digital payment solutions into Indonesia, one of the region’s fastest growing digital economies in the world

SHAH ALAM, MALAYSIA – Media OutReach – 9 June 2022 – Razer Fintech, the financial technology arm of Razer, the leading global lifestyle brand for gamers, today announced the acquisition of PT E2Pay Global Utama (“E2Pay”), one of the leading B2B2C digital payment facilitators and e-money players in Indonesia. Razer Fintech is already a leading O2O (offline to online) digital payment network in Southeast Asia, and this acquisition marks its further expansion into Indonesia.

Founded in 2012, E2Pay provides a breadth of payment solutions to merchants and financial institutions, including payment gateway, e-money, and remittance services licenses in Indonesia. These services complement Razer Merchant Services, Razer Fintech’s business-to-business arm regionally, as it facilitates cross-border payments for its 60,000 merchants to the region’s largest populated country.

E2Pay’s payment gateway supports high-growth e-Commerce verticals, including online marketplaces, professional services, travel & tourism, as well as other segments throughout Indonesia, with some of E2Pay’s most notable merchants consisting of Tokopedia, Bukalapak, Traveloka and Blibli.com.

The Indonesian fintech player also connects major payment channels and supports local and alternative payment methods, including card schemes, internet banking, mobile banking, e-money, virtual accounts, offline points, and personal financing to provide a comprehensive local payment platform for more than 500 merchants in the region.

The E2Pay e-money platform, MBayar, serves over 500,000 registered users and supports payments for credit or data plans, bill payments, QR payments, cash withdrawals and fund transfer services.

“E2Pay is one of Indonesia’s very few digital payment players that has a comprehensive set of licenses across various payment gateway services, e-money, and remittance. The acquisition of E2Pay allows us to accelerate our entry into Indonesia, one of the fastest-growing digital economies in Southeast Asia, as well as be able to better serve the digital payment needs of our regional and global merchants as the single partner of choice. I look forward to working closely with the E2Pay team to grow our presence in Indonesia considerably in the years to come.” said the CEO of Razer Fintech, Lee Li Meng.

“E2Pay are very happy to have Razer Fintech onboard. We hope that the synergy between E2Pay and Razer Fintech will enable both organizations to tap on our merchant base to grow, expand and scale our platform’s reach across Southeast Asia.” Said E2Pay Chairman, Rudy Danandjaja.

Internet usage in Indonesia has been steadily growing, with a Gross Merchandise Volume (GMV) of USD $40 Billion in 2020, mainly driven by e-Commerce, even offsetting declines in Travel, Transport and Food Delivery industries throughout lockdown periods according to the e-Conomy SEA Report by Google, Temasek and Bain & Company. Through this acquisition, Razer Fintech and E2Pay look to contribute Indonesia’s expected GMV of US $124 Billion by 2025, at a 23% Compound Annual Growth Rate (CAGR), making it one of the largest growing digital economies in Southeast Asia.

About Razer Fintech

Razer Fintech is the financial technology arm of Razer Inc. Established in April 2018, Razer Fintech has grown to become one of the largest O2O (offline to online) digital payment networks in emerging markets and has processed over billions of dollars in total payment value. Razer Fintech recorded a Total Payment Volume (TPV) of US$7 billion for FY 2021, representing an increase of 63.5% year-on-year.

RMS, a leading B2B (business-to-business) solution encompasses:

• RMS Online: Card processing gateway supporting global scheme cards and over 110 payment methods, powering online payments for global and regional blue-chip merchants in SEA.
• RMS Offline: SEA’s largest offline payment network of over 1 million physical acceptance points across SEA. RMS Offline also extends point-of-sale services (such as bill payments and telco reloads), cash-over-counter services including fulfilment of e-commerce purchases, distribution of third-party point-of-sale activation (POSA) cards, and merchant acquiring services for third-party e-wallets.

For more information, please visit our website at merchant.razer.com.

Merchants interested in online payment services, may email us at sales-sa@razer.com.

Merchants interested in offline reloads, may email us at bd-offline-my@razer.com

#RazerFintech #RazerMerchantServices

The issuer is solely responsible for the content of this announcement.