Understanding Indonesia’s financial market

Indonesia’s financial market is a dynamic and diverse ecosystem that plays a crucial role in driving economic growth and development. As the largest economy in Southeast Asia and the world’s fourth-most populous country, Indonesia presents a myriad of opportunities and challenges for financial institutions (FIs).

Economic Growth and Potential

Indonesia’s economy has been experiencing steady growth over the past few decades, fueled by robust domestic consumption, increasing investment inflows, and government-led infrastructure development initiatives. With a GDP of $1.32 trillion in 2022, according to the World Bank, Indonesia stands as a key player in the global economy. The country’s young and growing population, coupled with rising urbanisation rates, presents vast untapped potential for financial services providers.

Banking Sector Landscape

The banking sector dominates Indonesia’s financial landscape, with a mix of domestic and international banks catering to a diverse range of consumer and corporate banking needs. The sector is characterised by a high degree of competition, with banks competing for market share through product innovation, service differentiation, and digital transformation initiatives. Islamic banking also holds a significant presence, catering to the needs of Indonesia’s large Muslim population of an estimated 227 million people, accounting to 87% of the Indonesian population.

Non-Banking Financial Institutions

In addition to traditional banks, Indonesia’s financial market encompasses a wide array of non-banking financial institutions (NBFIs), including insurance companies, pension funds, asset management firms, and microfinance institutions. These NBFIs play a vital role in providing specialised financial services, catering to niche markets, and promoting financial inclusion, particularly in rural and underserved areas.

Digital Transformation

The rapid adoption of digital technologies is reshaping Indonesia’s financial landscape, driving innovation and expanding access to financial services. Mobile banking, digital payments, and online lending platforms are gaining traction, fueled by increasing smartphone penetration and internet connectivity. Indonesia’s bank account owners have seen a significant increase from 20% in 2011 to 52% in 2021, according to the World Bank. Fintech startups are disrupting traditional banking models, offering innovative solutions for payments, lending, wealth management, and insurance.

Regulatory Environment

Navigating Indonesia’s regulatory framework is a key consideration for FIs operating in the market. The Financial Services Authority (OJK) serves as the primary regulator overseeing the banking and financial sector, responsible for licensing, supervision, and enforcement. Compliance with regulatory requirements, including capital adequacy ratios, liquidity standards, and anti-money laundering laws, is essential for maintaining trust and stability in the financial system.

Socio-Economic Factors

Indonesia’s socio-economic landscape is characterised by diverse cultural influences, regional disparities, and socio-economic inequalities. Income levels vary widely across urban and rural areas with an average wage or salary of US$2,725 annually for Indonesian workers as of 2023, according to investinasia. This has affected consumer spending patterns, savings behaviour, and credit demand. Understanding these socio-economic factors is essential for tailoring financial products and services to meet the needs of different customer segments effectively.

Infrastructure and Connectivity

While Indonesia has made significant strides in improving infrastructure and connectivity in recent years, challenges persist, particularly in remote and underserved regions. Limited access to banking services, inadequate digital infrastructure, and logistical constraints can pose barriers to financial inclusion and hinder the expansion of financial services to marginalised communities.

Understanding Indonesia’s financial market is essential for FIs seeking to capitalise on opportunities and navigate challenges effectively. With its vast potential, diverse consumer base, and evolving regulatory landscape, Indonesia presents a compelling market for financial services providers willing to innovate, adapt, and collaborate to drive inclusive growth and prosperity.

Current Market Challenges in Indonesia

Economic Volatility and Uncertainty

Indonesia’s economy is susceptible to external shocks and internal factors, leading to periods of volatility and uncertainty. External factors such as fluctuations in global commodity prices, trade tensions, and geopolitical risks can impact Indonesia’s export-driven economy. Domestically, policy changes, political instability, and natural disasters can disrupt economic activity and investor confidence. This volatility poses challenges for FIs in forecasting economic trends, managing risk, and sustaining growth.

Credit Quality and Non-Performing Loans (NPLs)

The quality of credit portfolios remains a significant concern for FIs in Indonesia. Despite efforts to strengthen underwriting standards and risk management practices, NPLs continue to pose challenges. Economic downturns, industry-specific shocks, and borrower defaults can lead to a rise in NPL ratios, affecting profitability and capital adequacy. Managing NPLs effectively requires proactive debt collection strategies, risk mitigation measures, and prudent lending practices.

Regulatory Complexity and Compliance Burden

Navigating Indonesia’s regulatory landscape can be complex and burdensome for FIs. The regulatory environment is subject to frequent changes, with new laws, regulations, and guidelines introduced to enhance consumer protection, promote financial stability, and combat financial crimes. Compliance requirements related to anti-money laundering (AML), know-your-customer (KYC), data privacy, and consumer rights add to the compliance burden, requiring institutions to invest in robust compliance programs and regulatory technology (RegTech) solutions.

Digital Transformation and Technological Adoption

While Indonesia is witnessing rapid digital transformation, challenges remain in terms of technological adoption and infrastructure development. Urban areas are leading the digital revolution, with widespread smartphone penetration and internet connectivity driving the adoption of digital financial services. However, rural and underserved communities face barriers to access, including limited digital literacy, inadequate digital infrastructure, and affordability constraints. Bridging the digital divide and promoting financial inclusion require concerted efforts from both public and private sectors.

Cybersecurity Risks and Data Protection

As FIs embrace digital technologies, cybersecurity threats and data breaches have become a growing concern. Cyberattacks targeting banks, fintech startups, and payment systems can lead to financial losses, reputational damage, and customer distrust. Ensuring the security and integrity of financial systems requires investments in robust cybersecurity measures, employee training, incident response capabilities, and collaboration with industry stakeholders and cybersecurity experts.

Navigating the challenges of Indonesia’s financial market requires resilience, adaptability, and innovation from FIs. By addressing issues related to economic volatility, credit quality, regulatory complexity, technological adoption, and cybersecurity risks, FIs can strengthen their competitive position, drive sustainable growth, and contribute to the development of a resilient and inclusive financial ecosystem.

Importance of Debt Collection Systems

Debt collection systems stand as indispensable pillars within the intricate framework of Indonesia’s financial market, offering a strategic lifeline for FIs grappling with the complexities of debt management. In a landscape characterised by diverse consumer behaviours, economic fluctuations, and regulatory requirements, the importance of efficient debt collection systems cannot be overstated. These systems serve as catalysts for enhancing operational efficiency, optimising resource allocation, and mitigating financial risks. 

Moreover, they play a pivotal role in fostering positive customer experiences, ensuring regulatory compliance, and enabling data-driven decision-making. As FIs navigate the challenges and opportunities of the Indonesian market, debt collection systems emerge as indispensable tools for driving sustainable growth, profitability, and resilience in an ever-evolving landscape.

There are several value propositions banks and FIs can gain in adopting a debt collection system where they can experience:

Enhanced Efficiency

Debt collection systems streamline the entire debt recovery process, from initial contact with delinquent borrowers to resolution. By automating repetitive tasks such as payment reminders, scheduling follow-ups, and generating collection letters, these systems optimise workflows and reduce manual effort. This efficiency not only accelerates the debt recovery timeline but also frees up resources, allowing staff to focus on more value-added activities such as customer engagement and strategic decision-making.

Improved Customer Experience

Effective debt collection is not just about recovering funds; it’s also about preserving customer relationships. Debt collection systems enable FIs to adopt a customer-centric approach by personalising communication and offering flexible repayment options. By understanding each borrower’s unique circumstances and preferences, FIs can tailor their collection strategies accordingly, fostering positive interactions and maintaining goodwill. This not only increases the likelihood of successful debt recovery but also enhances customer satisfaction and loyalty in the long run.

Risk Mitigation

Debt collection systems play a crucial role in risk management by providing insights into borrower behaviour and credit risk. Through advanced analytics and predictive modelling, FIs can identify early warning signs of delinquency, assess the likelihood of default, and take proactive measures to mitigate losses. By leveraging data-driven strategies, FIs can segment their portfolio, prioritise collection efforts, and allocate resources more effectively, ultimately reducing exposure to bad debt and minimising financial risk.

Regulatory Compliance

Compliance with legal and regulatory requirements is paramount in debt collection to avoid legal liabilities and reputational damage. Debt collection systems help FIs adhere to industry regulations and consumer protection laws by standardising collection practices, ensuring fair treatment of borrowers, and maintaining comprehensive audit trails. By automating compliance processes and generating compliant reports, these systems provide a robust framework for regulatory oversight, reducing the risk of fines, penalties, and legal disputes.

Strategic Decision-Making

Insights derived from debt collection systems empower FIs to make data-driven decisions regarding credit policies, portfolio management, and resource allocation. By analysing trends in borrower behaviour, recovery rates, and collection costs, FIs can optimise their debt recovery strategies, identify areas for improvement, and capitalise on emerging opportunities. Whether it’s adjusting collection tactics, refining credit scoring models, or diversifying product offerings, debt collection systems provide valuable intelligence that drives informed decision-making and long-term profitability.

Debt collection systems are indispensable tools for FIs operating in the Indonesian market. By enhancing efficiency, improving customer experience, mitigating risks, ensuring regulatory compliance, and enabling strategic decision-making, these systems not only optimise debt recovery processes but also drive sustainable growth and profitability. As FIs continue to navigate the complexities of the Indonesian market, leveraging advanced debt collection systems will be key to achieving success in an increasingly competitive landscape.

JurisTech: Transforming Financial Businesses

JurisTech is a trailblazer in the financial industry, empowering FIs with innovative credit management solutions tailored to the Indonesian market. With a proven track record of delivering customisable debt collection systems, JurisTech helps financial businesses overcome challenges, seize opportunities, and thrive in a dynamic environment.

Through cutting-edge technology, predictive analytics, and automation, JurisTech’s debt collection system revolutionises debt recovery processes, enabling FIs to achieve higher recovery rates, lower operational costs, and enhanced customer satisfaction. Moreover, JurisTech’s commitment to continuous innovation and client collaboration ensures that FIs stay ahead of the curve, driving growth and transformation in Indonesia’s financial landscape.

In conclusion, debt collection systems play a pivotal role in navigating the complexities of Indonesia’s financial market, offering a strategic advantage to FIs in managing debt effectively. As a pioneer in the field, JurisTech empowers financial businesses to overcome challenges, unlock opportunities, and drive sustainable growth, positioning them for success in the Indonesian market and beyond.

About JurisTech

JurisTech (Juris Technologies) is a leading fintech company, specialising in enterprise-class software solutions for banks, financial institutions, telecommunications, and automobile companies in Malaysia, Southeast Asia, and beyond.

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In a significant stride towards fostering technological convergence and advancement, JurisTech recently made a resounding impact at a recent tech summit in Thailand, themed “Harmonizing with the Future.” The summit, orchestrated by DataOne Asia, unfolded its insightful proceedings at the Okura Prestige Bangkok on the 11th of October 2023. Drawing attention to pivotal technological sectors such as AI trends, Cybersecurity, and ESG (Environmental, Social, and Governance), the event drew a crowd of 250 enthusiastic attendees, eager to explore the imminent avenues of tech integration and innovation.

Central to the event’s discourse was the esteemed presence of Sadish A/I K Suryanarayanan, Regional Director of JurisTech. With a profound understanding of the intricate interplay between technology and financial services, Sadish’s presentation on “Enabling Digital Convergence on Customer Journey Using Automated AI Decisioning” sparked a dynamic dialogue on the intricate facets of AI decision-making and its transformative potential within the fintech landscape.

In his illuminating address, Sadish delved into the multifaceted challenges that often impede the seamless adoption of AI decisioning processes. He irradiated the audience on the importance of cultivating a bold digital vision, fostering a Strategic AI Decisioning Framework, and harnessing inherent business capabilities. He highlighted these points as the foundational steps toward embarking on a transformative customer AI decisioning journey. His insights provided a comprehensive roadmap for organisations seeking to navigate the complex terrain of AI integration while maximising their operational efficacy and customer-centric approach.

Moreover, Sadish’s explanation on decisioning across the credit lifecycle shed light on the intricate mechanics of leveraging AI-powered systems to streamline and optimise credit processes, thereby empowering financial institutions to make informed and efficient decisions across diverse stages of the credit lifecycle. His emphasis on the critical role of AI in facilitating informed decision-making within the financial sphere resonated profoundly with the audience, underscoring the transformative potential of AI technologies in fostering a sustainable and secure financial ecosystem.

Of particular significance was Sadish’s discourse on the imperative of hyper-personalisation within the context of customer-centric AI decisioning. Through a compelling narrative, he expounded upon the pivotal role of hyper-personalisation in enhancing customer engagement and fostering enduring customer relationships. By elucidating the transformative impact of hyper-personalisation on the customer journey, Sadish reinforced the need for organisations to prioritise personalised customer experiences. This would be set as a cornerstone of their AI integration strategies, underlining the profound impact of personalised services in fostering long-term customer loyalty and retention.

JurisTech’s participation in the tech summit in Thailand heralded a new era of innovation and integration. It emphasised the company’s commitment to spearheading transformative advancements within the fintech sector. As the realms of AI, cybersecurity, and ESG continue to shape the contours of the global technological landscape, JurisTech’s insightful contributions at the summit serve as a testament to the company’s unwavering dedication to fostering technological convergence and ushering in a future defined by innovation, sustainability, and customer-centric excellence.

About JurisTech

JurisTech (Juris Technologies) is a leading Malaysian-based fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

The post Harmonizing with the Future: JurisTech’s Insightful Discourse at DataOne’s Tech Summit in Thailand appeared first on JurisTech.

Introduction

At JurisTech, we understand the significance of a streamlined and efficient customer onboarding process. In today’s digital age, businesses across industries are continuously striving to enhance customer experiences while ensuring robust security measures. One crucial aspect of this process is the verification of customer documents, which can often be time-consuming and prone to errors.

In this article, we will delve into the revolutionary technology of OCR-based document verification and its role in expediting customer onboarding. By harnessing the power of Optical Character Recognition (OCR), businesses can automate the extraction and validation of crucial information from various documents, such as identification cards, passports, and utility bills. This technology not only enhances operational efficiency but also minimises manual errors, reduces costs, and improves overall customer satisfaction.

What is OCR?

OCR stands for Optical Character Recognition. It is a technology that enables the conversion of scanned or photographed images of printed or handwritten text into machine-readable text. In other words, OCR allows computers to recognise and interpret characters present in an image or document. By utilising complex algorithms and pattern recognition techniques, OCR software can identify individual characters, words, and even entire paragraphs, making the content editable and searchable.

OCR technology has revolutionised the way businesses process and manage documents. It eliminates the need for manual data entry by automating the extraction of information from various types of documents, including invoices, receipts, forms, and identity documents. OCR plays a vital role in document digitization, data extraction, and document management systems, improving operational efficiency, accuracy, and overall productivity.

In the context of document verification for customer onboarding, OCR is employed to extract relevant information from identification cards, passports, and other supporting documents. The extracted data is then validated, cross-referenced, and compared against trusted sources or databases to ensure accuracy and authenticity. This process significantly speeds up customer onboarding while minimising the risk of human error and fraudulent activities.

The Benefits of OCR-Based Document Verification

1. Enhanced Efficiency and Accuracy

Traditional manual document verification processes are labour-intensive, requiring significant time and resources. With OCR-based document verification, businesses can automate the extraction of data from documents, significantly reducing the need for manual intervention. This automation streamlines the entire process, allowing businesses to onboard customers more swiftly and accurately.

2. Time and Cost Savings

By eliminating the need for manual data entry, OCR-based document verification saves valuable time for both businesses and customers. Time-consuming manual tasks are replaced with efficient automated processes, enabling faster turnaround times and reducing operational costs associated with document processing.

3. Minimised Errors and Fraudulent Activities

Human error is an inherent risk in manual document verification. Mistakes during data entry can lead to inaccurate customer information, which may have serious consequences for both businesses and customers. OCR technology mitigates such risks by minimising errors and ensuring the accuracy of extracted data. Additionally, it helps in identifying potential fraudulent activities by comparing extracted information with databases of known fraudulent documents.

4. Seamless Integration and Scalability

OCR-based document verification systems can be seamlessly integrated into existing customer onboarding workflows, making it a versatile solution for businesses of all sizes. Whether you operate in the banking, insurance, healthcare, or any other industry requiring customer identification and verification, OCR technology can be tailored to your specific needs. Furthermore, as your business expands, OCR systems can scale to accommodate growing document volumes efficiently.

The OCR-Based Document Verification Process

The OCR-based document verification process comprises several key steps, each contributing to the overall efficiency and accuracy of the system. Let’s explore these steps in detail:

1. Document Scanning: The process begins with the scanning of customer documents, such as ID cards, passports, or driving licenses. High-quality scanning is crucial to ensure accurate OCR results.
2. Image Preprocessing: Preprocessing techniques are applied to enhance the document’s image quality, optimising it for OCR analysis. This step involves tasks like noise reduction, contrast adjustment, and image rotation.
3. Optical Character Recognition (OCR): The heart of the system lies in OCR technology, where advanced algorithms analyse the scanned document’s image and convert it into machine-readable text. OCR software recognises characters and extracts essential data, such as names, addresses, and identification numbers.
4. Data Extraction and Validation: Extracted data is processed and validated against predefined rules or databases to ensure its accuracy. This step involves cross-referencing the extracted information with trusted sources and running data consistency checks.
5. Verification and Decision-Making: The system verifies the authenticity of the document by comparing it against known patterns, security features, or reference databases. Based on the results, the system makes a decision on the document’s validity and authenticity.
6. Integration with Existing Workflows: Finally, the OCR-based document verification system seamlessly integrates with your existing customer onboarding workflows. This ensures a smooth transition

Streamline Your Customer Onboarding Journey with JurisTech’s OCR Solution

Partnering with the right OCR provider is crucial to ensure the successful implementation and utilisation of OCR-based document verification in your customer onboarding process. Looking into factors such as accuracy and performance, language support, data security and compliance, integration, scalability, and training all come into play when selecting the right provider. 

JurisTech holds a track record in delivering reliable credit management software solutions to digitally transform financial institutions over the last two decades. We provide an solution that offers high accuracy rates capable of handling various document types, layouts, and languages with precision and efficiency. With JurisTech’s OCR solution, financial institutions can enhance their end-to-end document processing by supporting any source and format, leveraging AI capabilities to learn every new document and intelligently identifying document types.

JurisTech’s OCR solution also leverages AI-powered capabilities to simplify the customer onboarding process. It does so by digitising and auto-extracting data fields, customising models to train your document templates to free up engineering bandwidth, and automatically sending extracted data to your business systems. Additionally, JurisTech’s OCR solution is highly integrable with our proprietary digital customer onboarding platform, offering flexibility in configuring the technology to match your document types, workflows, validation rules, and overall business processes. 

Finally, JurisTech’s solution adheres to industry-standard security protocols, follows data protection regulations, and offers secure data storage and transmission options to handle sensitive personal information. Our solution mandates customers to submit most documents in pdf-computer format, enabling easier identification and detection of possible tampering. It also tracks the pixel resolution of images for non-pdf documents to prevent fraud let alone, tighten internal controls through automation to mitigate possible fraud.

Interested to learn more about JurisTech’s OCR solution, connect with us today via contact@juristech.net

About JurisTech

JurisTech (Juris Technologies) is a leading Fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

The post How OCR Simplifies the Customer Onboarding Process appeared first on JurisTech.

Loan origination is an essential process in the financial industry, enabling individuals and businesses to secure financing for various purposes. However, loan origination is often a complex and time-consuming process, involving numerous steps and participants. From collecting and verifying borrower information to underwriting and disbursement, the process can be both tedious and error-prone. This is where loan origination automation comes in. By automating key steps in the process, lenders can greatly improve the efficiency and accuracy of their loan origination process, ultimately leading to better customer experiences and increased profitability.

Streamlining Borrower Information, Collection, and Verification

One of the most time-consuming and labour-intensive aspects of loan origination is the collection and verification of borrower information. Loan origination automation streamlines this process by using online applications and digital verification tools. Instead of collecting and verifying information manually, borrowers can complete online applications, allowing for a more streamlined and efficient process. 

With digital verification tools, lenders can quickly and accurately verify borrower information, including identity, income, and credit history. This not only saves time but also ensures that all borrower information is accurate and up-to-date, reducing the risk of errors and inaccuracies that can lead to delays or even loan rejections.

Improving Underwriting Accuracy and Efficiency

Underwriting is another critical step in the loan origination process, where lenders evaluate the borrower’s creditworthiness and risk to determine whether to approve or reject the loan. Traditionally, underwriting has been a time-consuming and manual process, with underwriters reviewing multiple documents and conducting thorough research to make their decisions. 

However, loan origination automation makes this step more efficient and accurate by using algorithms to analyse borrower data and credit history. Automated underwriting tools can quickly evaluate borrower risk factors and determine the appropriate loan terms and interest rates. This reduces the risk of errors and improves the overall speed of the underwriting process, allowing lenders to quickly and accurately make lending decisions.

Enhancing the Loan Disbursement Process

The loan disbursement process is also an essential step in the loan origination process, where borrowers and lenders finalise the loan agreement and disburse the funds. Traditionally, the disbursement process has been a manual process, involving numerous paper documents and in-person meetings. 

However, loan origination automation can streamline the disbursement process using electronic signatures and digital closing documents. With electronic signatures, borrowers can sign documents digitally, reducing the need for in-person meetings and speeding up the disbursement process. For example, expediting the preparation of credit papers. Additionally, with digital closing documents, all relevant documents can be securely stored in an electronic format, reducing the risk of lost or misplaced documents.

Increasing Customer Satisfaction

Studies have highlighted the importance of having a loan origination platform, having identified online loan applications as one of the key factors in increasing customer satisfaction. This is especially met in the consumer financing space where paper-based applications are shifted to a digital platform, automating the decisioning process.

By automating key steps in the loan origination process, lenders can provide a faster, more efficient, and more convenient experience for their borrowers. This leads to higher customer satisfaction and increased customer loyalty. In addition to better customer experiences, loan origination automation can also have a significant impact on a lender’s bottom line. 

Maximising ROI

Loan origination automation can also significantly improve a lender’s return on investment by streamlining processes, reducing errors, and increasing efficiency. Utilising tools such as AI and machine learning can help automate the processing of loans of any size and complexity in much less time and cost. With faster loan processing time and reduced costs, lenders can increase profitability rates, ultimately contributing to a better and more lucrative bottom line. 

Conclusion

In conclusion, loan origination automation is an essential tool for lenders looking to improve the efficiency and accuracy of their loan origination process. By streamlining key steps in the process, lenders can save time, reduce errors, increase customer satisfaction, and maximise their return on investment. As the financial industry continues to evolve and become more digitised, loan origination automation will likely become an increasingly important tool for lenders to remain competitive and meet the evolving needs of their customers.

Automate your Loan Origination System with JurisTech

With Juris Origination, you can automate the entire loan and application process, simplifying the process at each stage of the loan life cycle. Juris Origination’s robust straight-through processing covers customer application, pre-screening, credit-scoring, approval process, documentation, acceptance to account creation, disbursement for insurance, conventional loan, and Islamic financing. 

Creating new financing products has never been easier than with Juris Origination’s built-in lending templates, equipped with a financial computation and simulation engine enabling you to simulate the best financing products and deals for your customers. You can make more intelligent and accurate decisions by leveraging AI and alternative data to crunch high volumes of customer data to verify customers’ creditworthiness. Moreover, you can also automate the routing of financing applications for faster approval rates with a flexible multi-level approval matrix, maximising revenue for your business. All this and more! 

Transform the success of your business by automating your loan origination system today. Contact us for a free demo request.

About JurisTech

JurisTech (Juris Technologies) is a leading Malaysian-based fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

The post The Power of Loan Origination Automation: Maximising Efficiency and Streamlining Processes appeared first on JurisTech.

On 30th November, 30 students from Heriot-Watt University were welcomed to JurisTech’s office for an introductory session about our company and were also given a fun office tour. The students came from various backgrounds in Computer Science, Statistical Data, Finance, and Business. Our Chief Information Officer, Kiarash Razaghi Aval, and Recruitment Manager, Elizabeth Lim gave a fruitful talk to the students on how they can launch their tech career at JurisTech.

After welcoming the students into our office, Elizabeth kickstarted the talk with a fun icebreaking session with the students where a number of prizes were also handed out. She then moved to shared more about our company, gave a brief insight to students on the history of JurisTech, and how it came to be one of the fastest-growing Fintech companies in Malaysia. She mentioned how JurisTech have achieved several awards and milestones over the past two decades from when it was first founded in 1997 by CEO, See Wai Hun, and CTO, John Lim. Today, JurisTech stands tall and mighty offering a range of the best software solutions to banks and financial institutions with a presence in nine countries.

Elizabeth further shed light on JurisTech’s culture and how we incorporate four important core values across the company namely, Growing Heroes, Making Excellence Happen, Customer First, Opening Up, or GECO in short. These values are embedded at the heart of JurisTech and are practised by our employees to foster better working relationships, build conducive working environments, and set exemplary standards in all lines of work responsibilities. 

Elizabeth also shared how JurisTech harbours a work-life balance culture where employees can enjoy the many facilities provided in our office space, from enjoying a nice cup of coffee at our coffee bar, indulging in a number of games in our entertainment zone, or just kicking it back at our ‘Heroes Corner’ where employees can rest, play board games, or even have friendly chats with one another. She also mentioned how employees can enjoy flexible working hours coming to the office anytime between 7 am – 11 am as long as they adhere to a 9-hour work schedule. 

Kiarash then took the stage to share his career journey at JurisTech. He shared how he came from humble beginnings as a graduand of Multimedia University in 2012 searching for internship opportunities when he first got approached by JurisTech at a campus career fair. Little did he know, he was approached by the CEO of JurisTech, See Wai Hun, and later was offered an internship position as a software engineer. Throughout the years, he grew from being a Junior Developer, Technical Lead, and Head of R&D, rising to upper management positions as a Chief Innovation Officer and currently standing as Chief Information Officer. He shared how he experienced an abundance of knowledge and new practices working in the tech industry while also developing opportunities for JurisTech to lead the industry.

Kiarash then dived deeper to share the dynamic career life of software engineers at JurisTech. He mentions them as individuals who can develop both client and server software, while continuously expanding their knowledge, design skills, and understanding in a variety of fields such as front-end, back-end, databases, and CI/CD to create effective software that delivers value to customers.

Kiarash continued to share the critical roles software engineers play at JurisTech as problem solvers and software architects, who design and develop solutions to meet clients’ expectations. They also act as consultants, using their in-depth technical knowledge to work with multiple stakeholders such as the development team, supporting units, management team, clients, and 3rd-party vendors. Kiarash shared how software engineers’ efforts to work with multiple stakeholders help to create feasible and effective solutions while contributing to many areas from ideation to implementation, deployment and support. 

Furthermore, Kiarash shared the growing career paths of software engineers when they first join as a Junior Developer and grow to become a Technical Architect (as shown in the image below).

Kiarash then ends his talk by sharing insightful career advice with the students on how they can ace their technical interviews with the following points:

1. Carry a confident personality and be honest about what you don’t know
2. Show a passion for continuous learning
3. Be a team player, someone that is easy to work with
4. Show strong and fundamental technical understanding

At the end of the talk, the students were given a fun office tour to see in person how JurisTech operates in different units, connecting the roles and functions of different experts to create holistic solutions for our clients. 

Interested in kick-starting your career at JurisTech? Check out and apply to some of the amazing positions we have for you on our Career page!

About JurisTech

JurisTech is a leading Malaysian-based Fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

The post Heriot-Watt University Students Welcomed to JurisTech Office Tour appeared first on JurisTech.

On 3rd November 2022, Selangor Human Resource Development Centre (SHRDC) invited JurisTech to give an insightful virtual talk on how future graduates can launch a successful career in the tech industry. SHRDC is a talent and skills development centre that provides technical competency-based training as well as management and leadership skills training for individuals and businesses. Our welcomed Recruitment Specialist, Carmen Tan, gave the virtual talk to over 20 participants who were graduates from IT and Engineering backgrounds.

After kicking in a fun ice-breaking session, Carmen moved to introduce JurisTech’s background and history from when our CEO, See Wai Hun, and CTO, John Lim, founded JurisTech in 1997. She shared how JurisTech has grown to become one of the fastest-growing Fintech companies in Malaysia over the past 20 years, celebrating multiple milestones and achievements. Throughout the years, JurisTech has been developing transformative software solutions for banks and financial players, streamlining new ways customers can consume banking and financial products. Carmen also accentuated how JurisTech has grown an international presence in 9 countries, as part of its vision or ‘Big Hairy Audacious Goal’ to reach 100 institutions in 10 different countries in 10 years by 2028.

Carmen then moved on to share more about JurisTech’s work culture and how we incorporate four core values across the company namely, Growing Heroes, Making Excellence Happen, Customer First, and Opening Up, or GECO in short. These values are embedded at the heart of JurisTech and are a reflection of how our employees foster working relationships with all stakeholders of the company to induce higher productivity and work inclusivity. Carmen also added how JurisTech harbours a work-life balance where employees can enjoy a myriad of facilities in the office from making your perfect cup of coffee at our coffee bar, sharing a conversion or just kicking it back at our ‘Heroes Corner’, to indulging in a number of games at our entertainment zone such as playing pool, futsal, table tennis, and more! Employees can also enjoy flexible working hours coming to the office anytime between 7 am – 11 am as long as they adhere to a 9-hour work schedule.

Carmen then moved to share the key roles and positions in JurisTech. As a leading Fintech company in providing credit management software solutions to financial industry players, JurisTech takes pride in hiring exceptional software engineers (SE) and professional services engineers (PS). The career paths for SEs and PSs are both rewarding as their roles in the company drive new levels of product innovations as well as act as key roles in steering the company to success. Carmen emphasised how some of JurisTech’s earliest SE and PS joiners have now become company leaders and directors within a decade.

Carmen also shares how candidates applying to JurisTech with no prior tech background can also become Professional Services Engineers through our Heroes Training Academy (HTA). HTA is a unit dedicated to training new hires to go through a 2-week onboarding and training session to be equipped with the essential skills needed to start their tech journey.

Coming to the end of the talk, Carmen enlightened the audience with a number of valuable pieces of advice for graduates to kick start their careers from building their work résumés and digital profiles to sharing interview best practices and methods to successfully land a job.

The talk ended in a fruitful Q&A session followed by a warm appreciation and gratitude to Carmen for imparting invaluable knowledge to the participants.

Interested in kick-starting your career at JurisTech? Check out and apply to some of the amazing positions we have for you on our Career page!

About JurisTech

JurisTech is a leading Malaysian-based Fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

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Embedded finance has rapidly grown to become the new buzz within the banking and financial sector in recent years, creating new opportunities for banks, non-banks, and even new market entrants. Advancements in technology have led the financial industry to new levels of innovation, improving customer journeys, creating access to more credit facilities, achieving higher scalability, building operational resilience, and increasing profitability. As more financial opportunities are created for consumers, it creates new forms of partnership between banks and technology providers that underpins what is now being attracted as the embedded finance revolution. 

Research by McKinsey & Company indicated the value of embedded finance reached a whopping $20 billion in the United States alone in 2021. According to Oracle, the embedded finance market is valued to exceed $7 trillion in the next 10 years, which would make it twice the combined value of the top 30 banks today. Despite the opportunity scale the concept holds, many banks, software providers, Fintechs, and potential distributors still need clarification as to what embedded finance involves and how they can participate to win.

To many traditional and existing banks, the concept of embedded finance can pose a threat to their business models that require agile partners to step in between them to offer embedded financial services directly to customers. However, more innovative banks are perceiving the concept as a unique opportunity to reinvent their distribution strategies and engage with customers across multiple touchpoints. As can be seen, the threats and opportunities of embedded finance can influence strategic thinking for financial players to better understand and undermine the need to adopt and integrate it, let alone prepare technology infrastructure to support new demand and supply of financial products.

So, What is Embedded Finance?

In simple terms, embedded finance is the integration of financial services and products, by non-financial players, within platforms that consumers and businesses use on a daily basis. By integrating and embedding multiple financial services for everyday consumer use, it enables a more seamless and frictionless user experience. 

Payments were one of the first use cases of embedded finance essentially making life easier for both consumers and businesses to make purchases all at a touch of a button. Other forms of embedded finance that have also been developed include embedded lending, allowing buyers to access deferred payment facilities at the point of sale, and embedded insurance, access to insurance products at the touch of a button without having to search through different insurance providers. As more financial services are embedded at the consumption level, it disrupts the status quo of how businesses and consumers make transactions on a daily basis. 

Embedded finance already supports a number of customer propositions for new digital offerings. Some examples include e-hailing services such as Grab, which embeds payment services for improved user transactions via Grabpay. Airline companies like AirAsia also make use of embedded finance such as insurance services via its Air Asia Super App, which enables users to buy add-ons with their flight tickets upon checking out.

Embedded finance offers more avenues for banks and financial institutions to sell their financial products. This concept allows non-banks such as brands or merchants to create new propositions and customer experiences, all in a single platform.

How does Embedded Finance work in practice?

Embedded finance works such that it leverages technology to create a digital ecosystem whereby users can access financial products without having to go through or be redirected to multiple user journeys. Financial Services (FS) providers generally connect their financial products with non-FS firms through APIs to facilitate the transfer of data between one another. Non-FS firms offer their functionalities through their products and technology capabilities to seamlessly embed FS’ financial products into third-party customer journeys. Figure 1 shows a simplified model of how it is conceptualised to function.

Figure 1: Simplified Embedded Finance Conceptualisation. Source: Deloitte

How Should Banks Embrace the Concept of Embedded Finance

As described earlier, threats and opportunities will be seen by many banks that are looking to consider adopting the concept of embedded finance. There will be several adoption challenges that banks will need to recognise that may challenge traditional banking processes when conceptualising the idea of embedded finance. Some challenges can include switching to different revenue streams, developing new customer engagement pipelines, regulatory compliances, and exposure to new distribution partners that may raise concerns about market reputation and ongoing risk management.

Banks need to induce more methodological forms of strategic thinking when considering the possibilities of developing an integrated digital ecosystem. This goes with observing both opportunities and threats together. Gartner, a technological research and consulting firm devised an Embedded Finance Framework (shown in Figure 2) that suggests a wider perspective on looking at different opportunities and threats to enable banks to think more innovatively about how they can source and distribute their financial products. The framework describes the embedded finance market space and focuses on how different financial products can be combined to address the needs and wants of customers. Furthermore, it looks at whether banks should consume products from third-party providers or distribute their products themselves.

Figure 2: Gartner Embedded Finance Framework. Source: Gartner

The framework is organised based on four quadrants where Gartner has defined each as below:

1. Augment — the process of augmenting existing or future financial services offering with financial components sourced externally.
2. Productize — the process of transforming existing financial components into products in their own right, and distributing the resulting products to other enterprises that might want to offer that functionality to their own customers. 
3. Contextualize — the process of relying on third-party components to better understand the “Why?” of customers selecting specific products and services, making transactions, and planning for future product development based on the evolution of this context.
4. Diversify — the process of providing third parties with nonfinancial components (while including components related to financial services); therefore, transforming (diversifying) the role of a financial service provider.

For banks, success would be defined based on a clear differentiation on which quadrant they are positioned in and the provision of developing a digital ecosystem that would embed their financial products and services. 

In Summary

Although the concept of embedded finance has been here in recent years, it still presents a great potential to reshape how financial services can be accessed. Businesses that look to capitalise on this opportunity should begin by assessing their current processes and resources to determine if they are ready to develop an embedded solution. Businesses should also navigate priorities in different avenues such as regulatory compliances and outcomes, delivering a seamless customer journey, connecting with the right partner(s), and risk management to enable them to design and implement a successful embedded finance strategy.

Interested to learn how JurisTech can be your partner to create revolutionising embedded solutions, connect with our team today at contact@juristech.net. You can also learn more about JurisTech’s solutions here.

About JurisTech

JurisTech (Juris Technologies) is a leading Malaysian-based fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

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On the 25th of August, our Chief Executive Officer, See Wai Hun, was cordially invited by Perdana Leadership Foundation as a panellist in the Perdana Discourse Series 22 to shed light on the topic of ‘Envisioning Malaysia’s Future Employment: Trends vs Skills’. The Perdana Leadership Foundation was established in 2003 to preserve, research, and disseminate materials on, and by, Malaysia’s past Prime Ministers. 

The Perdana Discourse Series is among many of the Foundation’s initiatives to host intellectual discourses on unique topics that will help identify modes pertinent to resolving issues related to nation-building and developing a progressive society in Malaysia.

At the beginning of the Discourse Series, opening remarks were shared with a welcome address by YBhg Tan Sri Nik Mohamed Nik Yaacob, Executive Director, Perdana Leadership Foundation. It was followed by a keynote address by YBhg Professor Elizabeth Lee, Chief Executive Officer, of Sunway Education Group. Professor touched on many expansive works of digitalisation in the Malaysian economy sharing employment trends in Malaysia, skills aligned to the nation’s development goals, and new sustainable youth development initiatives from Sunway Education Group.

After a brief break, our CEO, See Wai Hun was invited on stage to join the panel session along with guest panel speakers, Dato’ Ahmad Nadzarudin bin Abdul Razak (Honorary Treasurer, MEF), Puan Noraliza Mohamad Ali (Senior Deputy Executive Director of Employment and Unemployment Division, Malaysian Bureau of Labour Statistics), and Dr Soo Wincci (Associate Professor, UiTM) who was moderating the panel discussion.

Dr Soo first opened the floor to Dato’ Nadzarudin to share what the future of employment looks like for Malaysia. He dived into the topic of recent emerging trends such as the growing significance of the gig economy, the increasing importance of TVET education, new regulations over work and employment, and the decreasing importance of university education.

Wai Hun followed by sharing some of the concerns and expectations of Malaysian employers today where she touched on the growing competition for talent in Malaysia. She shared that with Malaysia’s economy growing back to normal, companies have been hiring again like wildfire with unprecedented levels of outreach. She further mentions how the increase in competition has resulted in employers facing challenges in talent retention due to talent shortage. Wai Hun also adds how skilled workers with in-demand skills are slowly becoming less loyal to employers, having new visions of more flexible work roles. This poses a challenge for employers to support or facilitate new levels of growing needs e.g. upskilling training programmes and flexible working hours. 

“The workplace today should not be focused on talent retention alone, its focus should expand on the flexibility and efficiency of employees.” – See Wai Hun

Wai Hun further talks about some of the expectations employers are looking for in talents. Leading a major Fintech company, Wai Hun shares the importance of acquiring various skill sets and abilities in talents to overcome different unique work challenges. She shares how the nature of JurisTech’s hiring culture always seeks extraordinary talent who possess positive traits in personality, working ability, and culture adaptability. Wai Hun further emphasises how talents who display their personality traits should uphold a positive attitude and strong ambition as high achievers. Secondly, she highlights the importance of seeking potential in candidates and not just focusing on the skills they can bring to the company. Finally, she discussed the importance of candidates’ ability to adapt to different company cultures to be able to fit in without any rising resistance.

Dr Soo then passes the floor to Puan Noraliza to share some of the job market insights in Malaysia. She shares how in Q1 of 2022, the job market saw an increase in job vacancies by 7.5% which equates to 191 thousand vacancies in semi-skilled and skilled jobs. She also shares statistics of 5.61 million graduates in 2021 of whom 4.57 million were employed while 197 thousand were left unemployed. She further elaborates how skill-related underemployment is not an isolated issue faced by Malaysia, wherein one-third of employment in many economies experienced similar situations.

Dr Wincci also asks Dato’ Nadzarudin’s view on the mismatch in expectations between graduates and the employment market. He mentions how the expectations placed upon both graduates and employers need to be able to match. In the past, he speaks on how there was a larger degree of unrealistic or even unmatched expectations between graduates and employers and how this mismatch needs to be addressed by researching how more graduates can be career ready to meet the growing expectations of the labour market.

Dr Winnci then passes the floor to Wai Hun to share her views on how Malaysia compares in work and lifestyle to its neighbouring countries. Wai Hun expresses her view on how other nations such as Singapore and Hong Kong pay salaries 2-3 times more than Malaysia, however, their living conditions are comparatively more expensive than Malaysia. She mentions how Malaysia’s living conditions are relatively better than other neighbouring economies and is on a steady climb after gradually recovering from the pandemic.

Dr Soo then poses a final question to all panellists to share their views on how they perceive to see changes in the business and economic landscapes in the next five years. Wai Hun takes the floor first by sharing how the economic and global recession, resulting from the pandemic, has been creating new opportunities for economic and growth recovery. Businesses are becoming more digital-centric, remodelling their business structure to adopt more technologies to create more seamless user journeys. She also adds how the e-commerce industry has boomed over the last 2 years. In terms of the job market, she extrapolates how the rising changes for employers to retain more tech-savvy candidates should not be overlooked by graduates, and graduates should adopt a multiplier mindset to build on growing skill sets from changing demands in the job market. 

Dato’ Nadzarudin adds that businesses will grow bigger in the next 5 years and at the same time self-employment will also increase. He shares that with the growing consumer market, businesses will indefinitely grow, especially with the government signing new trade market agreements internationally to access more foreign goods. Puan Noraliza finally closes by sharing how both governments and businesses should work closely and collectively to address many of the employment challenges today to provide for more inclusive and decent working conditions for the Malaysian people.

The event finally ended with a presentation of a token of appreciation to the moderator and panellists by YBhg Tan Sri Nik Mohamed Nik Yaacob for attending the Perdana Discourse Series 22, following a fruitful Q&A session. 

Interested in kick-starting your career at JurisTech? Check out and apply to some of the amazing positions we have for you on our Career page!

About JurisTech

JurisTech is a leading Malaysian-based Fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

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On the 23rd of August, our Chief Information Officer, Kiarash Razaghiaval, and HR Manager, Sheryl Chong, were cordially invited to a virtual career talk organised by Purwadhika, to share how students majoring in full-stack development can launch their tech career at JurisTech. Purwadhikha is a pioneering Indonesian-based educational institution that provides digital technology facilities to upskill both students and entrepreneurs in order to create new digital talents contributing to the digital technology industry. 

After a fun ice-breaking session at the beginning of the talk, Sheryl shared more about JurisTech and how it came it become one of the fastest-growing Fintech companies in Malaysia. She shared how JurisTech was founded amidst the Asian Financial Crisis in 1997 when founders, See Wai Hun and John Lim, recognised a gap in the financial industry’s recovery and legal services. This presented an opportunity to create a blue ocean by shifting their primary focus on creating solutions that would be vital to helping banks and financial institutions. JurisTech has since expanded its digital footprint in 9 countries internationally, developing credit management solutions catered toward digitalising and transforming financial players. 

Sheryl further talks about JurisTech’s working culture and accentuates how the growth of the company has been the result of its growing cultural and core values that are constantly embraced by all Jurisians. These core values are known as our GECO values namely, Growing Heroes, Making Excellence Happen, Customer First, and Opening Up. Sheryl also shared how JurisTech has always welcomed talent from all around the world, with employees from over 12 countries. She also shared how the company have recently started hiring software engineers to work remotely. 

Kiarash then took to the stage to share more about the working life of software engineers at JurisTech. He first opened up to the students by sharing his humble beginnings as a graduand software engineer from Multimedia University in early 2012, and how he stumbled to land an internship opportunity at JurisTech at a campus career fair. After completing his internship, he stayed with JurisTech and had the opportunity to experience and grow with different roles and responsibilities.  Along the way, he grew from being a Junior Developer, Technical Lead, and Head of R&D, rising to upper management positions as a Chief Innovation Officer and currently standing as Chief Information Officer.

After a brief introduction, Kiarash shared with the students what being a full-stack developer is. He mentions them as individuals who can develop both client and server software, while continuously expanding their knowledge, design skills, and understanding in a variety of fields such as front-end, back-end, databases, and CI/CD to create effective software that delivers value to customers. 

Kiarash then continued to share the roles software engineers play at JurisTech as problem solvers, who design and develop solutions to meet clients’ expectations. They also act as consultants, using their in-depth technical knowledge to work with multiple stakeholders such as the development team, supporting units, management team, clients, and 3rd-party vendors. Kiarash shares how software engineers’ efforts to work with multiple stakeholders help to create feasible and effective solutions while contributing to many areas from ideation to implementation, deployment and support.

Kiarash also introduced what the typical career path for a software engineer looks like from when they first join as a Junior Developer and grow to become a Technical Architect (as shown in the image below).

Kiarash then ends his talk by sharing insightful career advice to the students on how they can ace their technical interviews with the following points

1. Carry a confident personality but be honest about what you don’t know
2. Show a passion for continuous learning
3. Be a team player, someone that is easy to work with
4. Show strong and fundamental technical understanding

At the end of the talk, the students and organisers all thanked Sheryl and Kiarash for sharing about the company, inspirational journeys, and taking the opportunity to help them develop their careers.

Interested in kick-starting your career at JurisTech? Check out and apply to some of the amazing positions we have for you on our Career page!

About JurisTech

JurisTech is a leading Malaysian-based Fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

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With artificial intelligence (AI) powering the financial industry, more opportunities are being created for financial institutions to serve their customers better, grow their market share, personalise product offerings, and achieve higher revenue rates at lower costs. Financial institutions that transition to adopt new digital channels can access larger and richer data sets to fuel advanced analytics and machine learning decision engines. With the help of using these decision-making capabilities powered by AI, financial institutions stand to hold a stronger competitive edge giving more incremental value to their customers, especially in the momentous growth of competing in global and regional markets.

Artificial intelligence can be a significant resource to financial institutions, especially in lending where they can expedite the process of hundreds of thousands of customer applications coming in. However, traditional financial institutions today still face challenges to cater to these applications due to prevalent manual functions that are both time-consuming and can opt to error lead decisions from human biases. An AI platform like Juris Mindcraft serves as a one-stop solution for all financial institutions’ problems, that uses data mining and machine learning capabilities to speed up the entire loan origination process. This includes functionalities from reducing loan approval times and quickly reviewing customer credit history to predicting customer behaviours in the likelihood of potential defaulters.

Let’s dive a little deeper into some of the use cases of Juris Mindcraft and how it can efficiently improve your lending process.

Identifying credit default risk when scoring customers

The COVID-19 crisis has triggered implications for managing and mitigating credit risk. The risk of loss arising from a borrower’s inability to pay its loan obligations in full or on time on any material credit obligation may impact all credit-sensitive transactions, including loans, securities, and derivatives. Hence, the ability to accurately identify credit risk during the scoring and loan approval stage is a huge challenge.

Juris Mindcraft uses Machine Learning modelling as a basis to better predict the potential risk and likelihood of a current loan defaulting. Its AI-based algorithm helps crunch huge quantities of customer data in a few seconds to verify the customer’s creditworthiness and determine whether to grant a customer a loan. Juris Mindcraft enriches the credit risk management process by reducing time-to-market and ensuring accurate credit scores.

Utilising alternative credit scoring for the credit-invisible customers

In traditional financial services, only those who are in the credit system will be given access to loans. However, people outside the credit system such as the unbanked, unserved, or underserved market would not qualify to access such services. This is because financial institutions have no way of assessing their customers’ creditworthiness due to the lack of credit data/history.

Juris Mindcraft’s machine learning model takes into account non-traditional data sources such as financial transactions, web traffic, mobile devices, and public records that can be used to assess the creditworthiness of an individual or a business without a credit history. Financial institutions can leverage alternative data to expand their services to credit-invisible customers to increase market reach. This more granular and individualised approach also allows banks and financial institutions the ability to more accurately assess each borrower and allows them to provide credit to people who would have been denied under the traditional scorecard system.

Predicting the next best action

Industries have come to realise that every customer journey is unique. The challenge for origination officers is to find the right set of actions for an individual that will move them to the next step in guaranteeing a loan.

Juris Mindcraft recommends the next best actions to origination officers enabling them to make faster, more accurate, and automated decisions backed by data insights. Ultimately, Juris Mindcraft helps officers to build more meaningful interactions, take corrective actions, and make offers that actually meet customers’ needs.

Juris Mindcraft analyses the creditworthiness of customers. For credit-worthy customers, Juris Mindcraft will suggest officers to approve applications while for customers who are not credit-worthy, Juris Mindcraft will suggest officers to ask them for a bank guarantee, for example.

In summary

The rapid improvement of AI-powered technologies can be a tremendous resource to financial institutions. AI’s automation capabilities to strengthen the lending process give room for loan origination officers to focus more on complex issues that offer strategic value to internal and external stakeholders. Artificial intelligence is no longer just an option to consider in the lending industry, but the only truth that lies to be seen for financial institutions that are determined to remain competitive and relevant in the industry. 

With a growing demand for financial products, it is imperative for financial institutions to be able to constantly cater to customers’ needs, offering personalised experiences while automating the user journey to maximise the lifetime value of every relationship while reinforcing market leadership.

Interested to learn more about Juris Mindcraft and how you can automate your lending processes, connect with our team today at contact@juristech.net

About JurisTech

JurisTech (Juris Technologies) is a leading Malaysian-based fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

Juris Mindcraft is an artificial intelligence (AI) platform that uses advanced machine learning (ML) techniques to build powerful AI models.

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