Helanie Hisham – JurisTech https://juristech.net/juristech The right software. Exceptionally delivered. Fri, 23 Aug 2024 04:41:09 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.26 https://juristech.net/juristech/wp-content/uploads/2018/02/juristech-favicon-66x66.png Helanie Hisham – JurisTech https://juristech.net/juristech 32 32 The Transformational Impact of Generative AI on FinTech Companies https://juristech.net/juristech/transformational-impact-generative-ai-fintech/ Tue, 26 Sep 2023 06:01:47 +0000 https://juristech.net/juristech/?p=32043 Discover how generative AI is revolutionising the world of fintech. Explore its profound impact on customer experiences, risk assessment, and algorithmic trading in our latest article.

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Introduction

In the dynamic realm of finance and technology, commonly known as FinTech, constant innovation is the key to success. The emergence of generative artificial intelligence (AI) has driven a significant transformation in recent years. This cutting-edge technology is transforming the view of fintech companies by automating complex tasks, enhancing decision-making processes, and elevating customer interactions. In this comprehensive article, we will delve deep into the world of generative AI and explore, in meticulous detail, how it is reshaping the fintech sector.

Generative AI: An In-Depth Exploration

Generative AI represents a specialised subset of artificial intelligence that diverges from conventional AI systems. Unlike traditional AI, which relies on pre-programmed rules and structured data, generative AI harnesses the power of neural networks to generate entirely new content. This content can manifest in diverse forms, including textual narratives, images, audio, and more.

At the core of generative AI are intricate deep learning models, as exemplified by GPT-3 and its successors. These models undergo rigorous training on colossal datasets, endowing them with the remarkable ability to comprehend context, produce coherent responses, and even mimic human creativity to some extent. This capability has opened up a myriad of possibilities across various industries, with FinTech at the forefront.

Enhancing Customer Experience: A Closer Look

One of the most palpable ways in which generative AI is revolutionising FinTech is through the enhancement of customer experiences. Customer service stands as a cornerstone of financial services, and generative AI-driven chatbots and virtual assistants have emerged as indispensable tools in this regard. These AI systems operate tirelessly, offering round-the-clock support, furnishing swift responses to enquiries, guiding users through intricate transactions, and even dispensing personalised financial advice.

According to a report by Accenture, 70% of financial services executives believe that AI and virtual assistants are the future of customer service in the industry, enhancing the overall customer experience. What sets generative AI apart in customer service is its adeptness at comprehending and responding to natural language queries. It is proficient in analysing user inputs, gauging sentiment, and tailoring its responses accordingly. This results in interactions that closely emulate human-to-human conversations, thereby heightening user satisfaction and engendering trust.

Risk Assessment and Fraud Detection: The Nitty-Gritty

In the fast-evolving landscape of financial technology, fintech companies face pivotal concerns surrounding risk assessment and fraud detection. Generative AI is positioned to revolutionise these domains. Businesses can meticulously examine sizable datasets using machine learning models enhanced with generative AI. This enables the identification of potential risks and anomalies, fostering more astute lending decisions and preemptive measures against fraudulent activities.

However, in today’s dynamic financial environment, payment fraud has emerged as a significant global issue, posing substantial challenges not only for fraud detection but also risk assessment. The statistics are alarming; payment fraud, valued at USD$9.84 billion in 2011, soared to an astonishing USD$32.39 billion in 2020. Bleak projections suggest that by 2027, the estimated cost of payment fraud will reach an alarming USD$40.62 billion, marking a worrisome 25% surge from 2020. This rapid expansion of fraudulent activities results from various factors, including the pervasive adoption of online payment systems, the growing sophistication of fraud techniques, and the collaborative endeavours of criminals through the dark web.

In light of these intensifying challenges, individuals and enterprises must proactively adopt protective measures and maintain vigilance to ensure the security of their financial transactions. It underscores the paramount importance of robust risk assessment mechanisms that encompass in-depth analysis of diverse datasets and financial activities. Fintech companies are increasingly relying on generative AI to identify subtle risk factors, allowing them to make well-informed decisions while navigating the intricate landscape of financial risks. This innovation is indeed a beacon of hope for bolstering security and confidence in the financial sector.

Credit Management and Loan Strategies: The Data-Driven Edge

In the realm of FinTech, companies specialising in credit management and loan services are making strategic use of generative AI to enhance their operations. These AI systems boast the ability to process extensive financial data in real-time, facilitating the identification of nuanced trends, patterns, and potential opportunities that often elude human analysts. The result is a more precise and data-backed approach to credit management and loan services.

Generative AI has the potential to transform finance and business as we know it, but it requires a significant upfront investment in time and money. According to a Gartner study, 80% of CFOs surveyed in 2022 are expected to increase their investment in AI over the next two years. With this investment, approximately two-thirds of them believe their function will reach an autonomous state within six years.

What distinguishes generative AI is its capacity to simulate a wide range of credit scenarios, predict potential outcomes, and adapt strategies accordingly. This dynamic approach is invaluable in credit risk management. By harnessing generative AI, fintech organisations are crafting resilient and adaptable credit management algorithms that can thrive even in the most dynamic financial environments.

Automating Back-Office Operations: The Precision Revolution

Fintech companies often grapple with a multitude of labour-intensive back-office tasks, ranging from mundane data entry and meticulous record-keeping to stringent compliance adherence and onerous regulatory reporting. Generative AI is progressively being deployed to automate many of these operations, resulting in substantial cost reductions and a marked decrease in errors.

McKinsey reports that AI-powered automation in back-office operations can lead to cost savings of up to 20-30% in the financial industry, and error rates can be reduced by as much as 80%. For example, generative AI can seamlessly extract pertinent information from unstructured documents like contracts and invoices, transforming them into structured data that can be effortlessly integrated into financial systems. This not only economises time but also elevates accuracy and augments compliance with stringent regulatory requirements.

Challenges and Ethical Considerations: The Prudent Path

While generative AI holds immense promise for fintech companies, it simultaneously introduces a profusion of challenges and ethical considerations. Foremost among these concerns is the spectre of biassed algorithms. If the training data used to nurture generative AI models carries inherent biases, it can yield discriminatory outcomes, especially in lending and credit-related determinations.

Moreover, as the fintech industry continues to embrace generative AI, it’s essential to recognise that this technological leap isn’t without its challenges. While the implementation of AI in data extraction from unstructured documents has proven to reduce processing time and errors significantly, these efficiencies come at a cost. It’s imperative to address the evolving concerns of data privacy and security. Recent studies highlight that cyberattacks targeting financial institutions have been on the rise, with a 75% increase in data breaches reported in 2021 compared to the previous year. This surge in cyber threats underscores the critical need for fintech companies to fortify their defences and implement stringent security measures to safeguard sensitive financial information against unauthorised access and data breaches.

Banks, financial institutions, and fintech companies are actively evaluating and managing these challenges, recognising the immense potential of generative AI while taking deliberate steps to mitigate its associated risks. Their dedication to addressing these issues not only underscores their commitment to innovation but also positions them to navigate the transformative landscape of finance with resilience and responsibility.

Conclusion: Charting a Transformative Course

Generative AI is poised to redefine the contours of the fintech industry. By automating intricate tasks, augmenting customer experiences, elevating risk assessment, and optimising trading strategies, it promises to be a disruptive force in financial technology. Nonetheless, with great transformative power comes great responsibility. Fintech companies must exercise vigilance in addressing ethical quandaries, preserving data privacy, and mitigating biases in AI algorithms. As generative AI continues to advance, its role in the financial sector will undoubtedly expand, leading to ever more innovative solutions and the delivery of superior financial services to consumers worldwide. The fintech industry is on the cusp of a transformative era, and generative AI stands as a guiding beacon illuminating the path forward.

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.

As one of the Fintech pioneers in Malaysia, our vision is to enable financial inclusion for the financial industry with our diverse range of solutions. Check out our latest AI-powered technology, Juris Mindcraft, an explainable and adaptive AI that provides an explanation behind every decision reached, which helps banks and financial institutions to transform their digital landscape.

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JurisTech’s Fintech Footprint: From Malaysia To The Global Landscape https://juristech.net/juristech/juristechs-fintech-footprint-landscape-from-malaysia-to-the-global-stage/ Mon, 11 Sep 2023 09:42:42 +0000 https://juristech.net/juristech/?p=31977 In finance and technology, JurisTech is an innovative force shaping the global future under CEO See Wai Hun’s visionary leadership. Explore our journey, discover fintech's key factors, and see how JurisTech drives the revolution. From financial inclusion to AI innovation, we're reshaping finance.

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Introduction

In the dynamic realm where finance intersects with technology, the concept of “Fintech” has surged to the forefront as a transformative catalyst reshaping economies worldwide. Leading the charge in this fintech revolution is JurisTech, a forward-thinking enterprise steered by the visionary CEO See Wai Hun. In this article, we embark on a journey to uncover the pivotal factors steering the global fintech landscape, delve into JurisTech’s pivotal role in propelling this transformation, and gain glimpses into the future of fintech.

Fintech and Its Global Impact

What is Fintech?

Fintech, a portmanteau of “financial technology,” refers to the innovative use of technology to deliver financial services more efficiently, affordably, and inclusively. Fintech companies leverage cutting-edge technologies such as artificial intelligence (AI), blockchain, and data analytics to reimagine traditional financial services, ranging from payments and lending to insurance and asset management.

The Global Fintech Landscape

The fintech landscape is undergoing rapid transformation globally, driven by several key factors:

  1. Increasing Digitisation: The proliferation of smartphones and internet access has empowered individuals worldwide with the ability to access financial services digitally. This digitalisation has created new opportunities for fintech companies to reach a global audience.
  2. Changing Consumer Expectations: Consumers are increasingly seeking convenience, transparency, and personalised financial solutions. Fintech companies are capitalising on these expectations by offering user-friendly apps, robo-advisors, and accessible financial products.
  3. Regulatory Support: Many governments and regulatory bodies are recognising the potential of fintech to improve financial inclusion and drive economic growth. They are introducing supportive regulations to foster fintech innovation.

JurisTech: A Driving Force in the Malaysian Fintech Revolution

The Visionary Leadership of See Wai Hun

At the helm of JurisTech stands CEO See Wai Hun, a visionary leader with a deep commitment to driving fintech innovation. Her leadership has propelled JurisTech from a local innovator to a global influencer, leaving an indelible footprint on the fintech landscape.

Fostering the Fintech Landscape Globally 

JurisTech’s 2018 goal (100 10 10) was to reach 100 organisations, in 10 countries in 10 years, with a vision to create amazing solutions and build and enrich lives. Thus, the impact of working towards the global fintech landscape direction is significant, and we are driven by several key factors:

  1. Empowering Financial Inclusion: JurisTech has developed innovative credit scoring and lending solutions that empower individuals and businesses worldwide to access credit. By using artificial intelligence (AI) and data analytics, they have democratised finance, providing opportunities for those previously excluded from traditional financial systems.
  2. Enhancing Operational Efficiency: Through its cutting-edge technologies, JurisTech has helped financial institutions across the globe streamline their operations, reduce costs, and improve efficiency. This optimisation has direct implications for the profitability of these institutions and the broader economy.

JurisTech: A Beacon of Innovation

JurisTech is akin to a beacon of innovation in the fintech industry. Like many fintech companies, it harnesses AI and advanced machinery to provide groundbreaking products and solutions. However, JurisTech stands out in several remarkable ways:

  1. Redefining Financial Services: JurisTech’s solutions are created to revolutionise business models, processes, and operations. Utilising advanced technology, JurisTech envisions applying Generative AI (Gen AI) to  an AI industry analyst for credit papers. In this scenario, Gen AI would generate research on a company or its industry of operation automatically. Gen AI possesses sophisticated capabilities, such as decision-making, learning, and adaptation, that go beyond traditional machine learning AI. The advanced solutions of JurisTech are redefining how financial institutions interact with clients and streamline their operations.
  2. Meeting your Business’s Needs: JurisTech tailors your products and services to your business’s needs. With our customers in mind, JurisTech places a great emphasis on our delivery capabilities to put our products at the forefront of our client’s ongoing and future digital transformation. This approach sets JurisTech apart, the foresight to allow clients like banks and financial institutions to not only provide personalised financial solutions to their customers but also to generate greater revenue through technology.

JurisTech’s Global Reach

While JurisTech’s roots are in Malaysia, its influence extends far beyond national borders. The company’s global vision has led to collaborations with industry leaders across various sectors and regions.

  1. The alliance with a leading Japanese multinational automobile manufacturer has resulted in the development of advanced credit assessment models. These models have revolutionised lending practice, making credit more accessible to individuals and businesses.
  2. In partnership with one of the oldest multi-finance companies in Indonesia, JurisTech has introduced cutting-edge risk management solutions. These solutions enable the company to make informed lending decisions, reduce default rates, and support responsible lending practices.
  3. JurisTech’s association with the largest Islamic bank in Malaysia has led to the creation of innovative credit-scoring models that improve the bank’s lending processes and promote financial inclusion among Malaysians.
  4. Collaboration with one of the world’s leading premium manufacturers of automobiles and motorcycles, JurisTech’s collaboration with the organisation in Australia, showcases its ability to deliver tailored fintech solutions for the automobile industry through JurisTech’s digital onboarding solution. This partnership has streamlined financing processes, enhancing the overall customer experience.
  5. One of JurisTech’s most significant collaboration is with Malaysia’s largest bank. Through this partnership, JurisTech has helped the company create advanced credit scoring models and lending solutions, making credit more accessible to Malaysians and fostering economic growth.

The Future of Finance: A Glimpse Through JurisTech’s Lens

JurisTech’s journey from a Malaysian fintech innovator to a global industry influencer is not only remarkable but also provides insights into the future of finance. As fintech continues to evolve, here are some trends and possibilities we can anticipate, with JurisTech leading the way:

  1. AI-Powered Finance: JurisTech’s Alternative Data, with Machinery AI solutions, are indicative of the future of finance. AI will become increasingly sophisticated, enabling financial institutions to automate decision-making, personalise customer experiences, and manage risk more effectively.
  2. Prioritising Exceptional Customer Service: In the fintech industry, companies such as JurisTech are committed to delivering exceptional customer service. The financial ecosystem will place a greater emphasis on responsive and efficient support, ensuring a superior customer experience.
  3. Expanding Collaborative Ventures: JurisTech’s collaborative approach is gaining momentum. Notably, our partnerships with industry leaders like CTOS and iMoney exemplify mutually beneficial relationships that enhance services for end-users.

Conclusion: Shaping a Brighter Financial Future 

CEO See Wai Hun, at the helm of JurisTech, strongly believes in the quote:

“We’re revolutionising the way financial transactions are conducted.”

This quote reflects JurisTech’s mission, as detailed in this article, to harness data-driven fintech solutions for financial institutions’ empowerment and economic growth. Our company is at the forefront of innovative fintech solutions that enhance financial inclusion, operational efficiency, and customer-centricity. The collaborations with industry leaders like CTOS and iMoney underscore the urgency for banks to embrace data-centric innovation. The quote symbolises JurisTech’s commitment to a future where finance and technology seamlessly merge for the benefit of all stakeholders.

JurisTech’s journey is not just a story of success; it’s a narrative of transformation, collaboration, and global impact. Under the visionary leadership of CEO See Wai Hun, the company has transcended boundaries and reshaped the global fintech landscape. From revolutionising lending practices to promoting financial inclusion and fostering cross-border collaborations, JurisTech’s influence is undeniable.

As we look to the future of finance, we see a world where fintech innovation, driven by companies like JurisTech, will continue to enhance financial accessibility, efficiency, and inclusivity. With AI-powered solutions, digital identities, and customer-centricity at the forefront, we can expect a financial landscape that empowers individuals and businesses worldwide.

JurisTech’s journey is a testament to the transformative power of fintech, and it leaves us with a clear message: the future of finance is bright, and it’s being shaped by those who dare to innovate and collaborate on a global scale. 

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. 

Make intelligent business decisions with our Juris Mindcraft, an effortless artificial intelligence (AI) platform that uses machine learning techniques to build powerful AI models.

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Every Child Matters: JurisTech and SPICES Partner for a Better Future https://juristech.net/juristech/every-child-matters-juristech-and-spices-partner-for-a-better-future-charity-golf/ Mon, 28 Aug 2023 08:13:29 +0000 https://juristech.net/juristech/?p=31721 Celebrating unity and purpose, our article delves into the heartwarming partnership between JurisTech and SPICES at the 4th Charity Golf donation event. Discover how together, we're making a meaningful impact on children's lives and building a brighter future. Join us in this inspiring journey of community support and compassion.

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JurisTech SPICES charity golf

From left: Jason Loh, Associate Vice President – Originations of JurisTech; Naaman Lee, COO of JurisTech; Ken Yap, General Manager of iMoney Group; Kit Mun, Associate Vice President – Support & Enhancements at the SPICES’ 4th Charity Golf Tournament

JurisTech is honoured and thrilled to once again support SPICES (Supporting Parents, Infants, and Children through Early Services) at their 4th Charity Golf Tournament. JurisTech has been performing CSR initiatives for the last 15 years, and it is still an ongoing tradition where we share our Annual Dinner with the underprivileged and organise fundraising campaigns for the children’s homes.

We extend our warmest regards to the SPICES community and deeply appreciate the success of our past collaborations, particularly the remarkable fundraising drive that enabled us to raise nearly RM20,000 in the previous year. It was through the dedication and commitment of the JurisTech and iMoney (a consumer arm of JurisTech) families that this significant contribution was made possible. 

The 4th Charity Golf event by SPICES was of particular significance as it represented the return of a beloved event after a three-year hiatus caused by the pandemic. The event took place at the picturesque Sungai Long Golf and Country Club in Kajang on August 23, 2023. This year, the funds raised at this event were instrumental in advancing SPICES’ initiatives and community services. After 25 years, an ambitious project to upgrade their facilities is in the works, with plans for a contemporary space adjacent to their current location. 

Among the anticipated highlights of the Charity Golf event was the presence of our esteemed Chief Operating Officer (COO) of JurisTech, Naaman Lee, and General Manager of iMoney Group, Ken Yap. The involvement of Naaman and Ken resonated strongly with both companies, which are dedicated to bringing a meaningful and positive impact to the community. Naaman has always been someone who gives his fullest support to underprivileged children. Having said that, in all things that we do as a company, we aim to impact and enrich those around us. Echoing the vision of JurisTech, we want to create amazing software solutions, to build and enrich lives. 

The core mission of SPICES aligned perfectly with JurisTech’s desire to have a positive impact. We shared their commitment to providing children with developmental delays and disabilities, especially those who were underserved, with evidence-based services. This partnership emphasised that these children deserved a solid foundation for a brighter future, and that it was the responsibility of both individuals and businesses to make this a reality.

A group picture at the SPICES 4th Golf Charity event with the charity contributors

JurisTech is honoured to be a part of this journey with SPICES, and we are fully committed to supporting SPICES and their noble cause. Every effort, regardless of size, counts towards making a significant difference in the lives of these children. For those interested in joining them in this meaningful endeavour, details about SPICES’ 4th Charity Golf 2023 and their impactful work are available on the organisation’s website (https://spices.org.my). For more information, you can contact SPICES at +603-4149 8032 or via email at info@spices.org.my.

In conclusion, we want to express our profound appreciation to SPICES for providing us with the opportunity to contribute to such a worthy cause. Together with Naaman, Ken, and other supporters, we are enthusiastic about fostering a brighter, more inclusive future for the SPICES  community and positively impacting the lives of these young people.

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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The Beauty of Having a Digital Onboarding Platform https://juristech.net/juristech/the-beauty-of-having-a-digital-onboarding-platform/ Tue, 26 May 2020 10:36:24 +0000 https://juristech.net/juristech/?p=12218 Bring your digital journey to life with Juris Access, a digital onboarding platform to capture customers from their first touchpoint to closing the deal with a backend engine.

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This article was last updated on (16/10/2023). Please note that the information contained in this article may have changed since the original publication date.

Hey there! Nice to meet you, You, and YOU for the first time. Do you know that you have access to the largest community? I have always been amazed by the simple fact that we are now communicating, merely because we are all digitally present. With 5.19 billion users and growing, 8.5 billion searches per day (and increasing rapidly as I am writing this), the internet community is about 64.6% of the world population! Who does not want a piece of this cake?

With the huge amount of data being generated and transmitted over the internet, organisations who do not have a digital presence are under increasing pressure to change and adapt to the digital age of customer acquisition and retention. For organisations with a digital presence, many have sought to utilise the immense amount of data present online to improve and enhance their business processes.

Having a digital customer onboarding platform that is uniquely designed for your business enables you to capture customers from their first touchpoint to closing the deal, and at the same time having a backend engine to elevate the process of onboarding potential prospects. Let me further elaborate on a few beauties that having a digital onboarding platform can provide to most businesses.

Having that Digital Presence Makes You Searchable 

Out of the 8.5 billion daily searches mentioned at the beginning of this article, you would definitely want to squeeze your way through and appeal to your potential customers throughout their buying life cycle.

Just imagine a scenario where you are a business owner providing vehicle loans to customers interested in getting a new vehicle. The typical process is to perhaps distribute flyers, put up physical banners, and have resources ready over the counter to serve walk-in customers and assist them in completing their loan application for their dream vehicle.

With a digital onboarding platform, it gives you the capability to create multiple touchpoints to engage with your customers. To have a direct call to action rather than a stagnant website with details, is a plus point for you. For instance, creating an ‘apply loan now’ link to appear on relevant vehicle marketplaces, vehicle resellers, or even your own corporate website. Moreover, you can also increase customer touchpoints by generating QR codes to be promoted on digital campaigns, blasting out communications through multiple channels, and the list goes on.

You should take the leading advantage to create brand awareness, by constantly appearing and reminding your potential customers about your services even before the customer decides on the vehicle he/she is getting!

Personalise Your Customer’s Experience 

Digital customers are definitely not the most patient customers you will find. Customers can easily drop off at any point throughout their purchase or application process. Businesses should be looking into providing the simplest process for customers to achieve their intended goals.

You see, it should not take 10 steps for a customer to apply for their ideal loan package when they can do it in 5 steps. You can simplify the customer experience with minimal disruption. Starting by understanding the business niche, observed through the lens of your customers, and using this knowledge to create a digital ecosystem that is so seamless, it will win you impactful word-of-mouth reviews and referrals from your customers.

How do we achieve that, you would ask? Former CEO of HP, Carly Fiorina, once said, ‘The goal is to turn data into information, and information into insight’. With digital platforms and unlimited data sources, you can now learn about your potential customers and intuitively recommend only the necessary products or services they would likely fancy. Weed out other distracting options, cross-sell related products at the right time, and seal your deal in a way that your customers would think that you are psychic!

The customer experience does not stop at providing options and personalised recommendations. The process itself has to be simplified with automated functionalities that reduce hassle, time, and costs. By onboarding your customers digitally, information that is required from different customers for different purposes can now be customised and catered closely to their needs. For example, if a customer is applying for a loan, businesses can leverage data that is available from public sources to instantly auto-populate, calculate, and score their customers. In addition, the tracking of updates and reminders can be automated as well. With the right digital tools, we can now serve our customers like kings and queens!

Businesses must remain informed about what worked and what did not in order to reflect on their weaknesses and build upon their strengths. With the capabilities of artificial intelligence (AI), businesses can now process massive amounts of data around the clock (even when we are not working), gaining analytical insights before making informed decisions.

Converting Operational Costs Into a Key Competitive Advantage 

The only constant is change. Digital transformation has been affecting the ways employees contribute to their organisations, and it is through adapting to change that you will remain relevant and competitive. Let us look at a few optimistic views of tech-enabled panaceas that reduce your operational costs and how they can serve as your key competitive differentiators.

By closely analysing the operational day-to-day tasks, we can easily identify the routine and repetitive tasks that can be converted into automated tasks done by digital solutions. For example, a digital onboarding platform can pre-screen for the right customers before assigning them to suitable officers. As your customer list grows, the assignment of cases can be automated with an element of gamification to assign the right cases to the right agents. This will not only boost employees’ efficiency but will also increase motivation as they will be getting better leads.

Apart from off-loading some of the routines and repetitive tasks, employees are now geared towards analytical and decision-making tasks. You can further enhance your employee experience and reduce the possibility of human errors by embedding AI technology into the digital onboarding journey. Instead of having your employees manually screen through the profiles of each of the customers, why not get the helping hand of AI technology to calculate the possible risk, detect possible fraud, make informed predictions, and instantly trigger necessary alerts for corrective actions?

About Juris Access

Bring your digital journey to life with Juris Access, a digital onboarding platform with straight-through processing (STP) capabilities that comes with all the aforementioned three beauties: enabling your business with a digital presence, personalising your customer experience easily even if you are from a non-technical background, and winning you that key business differentiator with embedded AI technology.

Juris Access goes beyond being a conventional digital onboarding platform. It’s a versatile tool that facilitates the seamless onboarding of potential leads and various third-party entities, creating a unified digital onboarding environment. This omnichannel solution empowers financial institutions to offer prospective customers personalised recommendations for their full spectrum of products, delivered through multiple digital channels such as the web, mobile, merchant services, social networks, and even chatbots.

Furthermore, Juris Access excels in integration, connecting seamlessly with other JurisTech products, established systems such as credit bureaus, and optical character recognition (OCR) applications through a web API. This interconnected, web-based hub facilitates a holistic approach to digital onboarding. The ability to seamlessly integrate between systems empowers users to effortlessly submit and manage applications via their mobile devices, eliminating days of processing time. The remarkable aspect is that it all happens without the need for human intervention.

With a fully digitised and streamlined process, customer onboarding reaches new heights of personalisation, recognition, and automation, consistently surpassing industry standards for efficiency. Embedded with advanced AI technology, our digital onboarding system quickly screens and approves new customers, resulting in rapid loan application processing and approval. The future of digital customer onboarding has arrived, and Juris Access might just be the solution you need to bring greater financial access to your target audience, impacting and driving economies together with us.

Juris Access embraces the concept of an open API marketplace, recognising that the future hinges on ecosystems and data exchange. Users have the ability to publish APIs and create codeless interfaces with Juris Access, facilitating seamless data exchange with ecosystem participants.

Conclusion

Now, at the end of writing this article (with some procrastination for inspiration), I went back to check the internet live stats, and the number of searches per second was approximately 99,000! With JurisTech, we believe we can now greet and onboard the rest of the internet community with our own digital onboarding platform!

Getting into the digital bandwagon is an ongoing, ever-changing process. Whether your organisation is about to embark on digital transformation, or has experience in the field and would love to explore the ever-changing digital onboarding realm, JurisTech has the capability to bring you the right people with the right skills to build you the right platform, to reap the above beauties by digitising your onboarding process!

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 Access enables you to achieve your digital transformation goals. We want to help you help your customers experience a wholesome digital onboarding journey. Find out more at https://juristech.net/juristech/juris-access/.

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