Credit: Hubspot

Traditionally, the sales pipeline involves plenty of physical interactions in consolidating multiple parties’ communication. Ideally, a salesperson would allocate a majority of their resources, focusing on making the sales happen. However, each cycle stage is often cluttered with ad hoc tasks that end up being time-consuming for sales personnel.

As the world focused on perfecting its digital interaction after the pandemic broke out in early 2020, there are still obstacles that need to be overcome in eliminating mundane and repetitive tasks in a sales pipeline, especially in the financial industry where it’s tightly regulated and benefits from immediate customer engagement. It eats up the resources of a sales team as these tasks tend to be meticulous and can turn disastrous if not completed on time, such as losing engagement with prospects, off-the-mark market research, or miscommunication during pitching. If there is no consolidation effort being input into the pipeline, a sales cycle could easily turn into an array of overwhelming spreadsheets.

Managing leads: how prospective clients fell through the crack

The biggest concern for most organisations in a sales cycle is ‌in managing and growing the leads that come through their pipeline. As mentioned previously, the tedious admin processes can bring down morale. In achieving a sales goal in a cycle in the financial industry, the sales department can be pressured to attend to a client as soon as a lead comes in. This is due to the fierce competition in the industry. However, each client needs different personalisation in their interactions, and this is where the focus of sales personnel should be. Managing incoming leads with the sales team resources can be tricky, especially when the workload is delegated manually; this is where a sales team ends up losing out on their potential.

Previously excel spreadsheets were widely used to track a sales pipeline; from enquiries, customer data, lead follow-up, and sales engagement, as the method, is considered widely accessible to accommodate the structure of a sales cycle. But there is no real-time follow-up synchronisation in these excel spreadsheets, which can cause confusion. Where the financial industry is concerned, this could lead to disastrous outcomes if the processes are not streamlined and consolidated accordingly.

Automate your sales process 

Utilising sales force automation (SFA) software helps oversee the end-to-end process while allowing every party involved to be updated simultaneously in order to avoid any mishaps, especially in tightly regulated industries such as finance and banking Assignment of tasks also becomes smoother, besides freeing up sales personnel’s time from the mundane and repetitive tasks interfering with their focus to achieve sales objectives. Leads automation also plays an important role in minimising roadblocks in a sales cycle and helps foster smart sale forecasts, ensuring sales goals and projections can be achieved in a timely manner.

Sales force automation creates an intuitive journey for all sales personnel involved in the process. While this has always been a concern (dealing with roadblocks in an ongoing sales cycle), there have not been many efforts to streamline task assignments to the right person. Often, customers find themselves in a state of frustration by a lack of understanding from their financial and banking providers, which often led to a poorly managed escalation in the process. However, sales force automation is intuitive in the sense that it will assign the right sales personnel to ensure no leads are forgotten and increase the rate of engagement with customers. 

Besides that, sales force automation gives detailed insights into the crucial data needed in a sales pipeline. The knowledge gained from the compiled data then stays within the company as tracked by the system (eg: in the situation where an employee left). The sales team can now analyse past sales data, make a better sales conversion prediction, and upcoming opportunities and trends. This will allow for a major improvement in the overall customer relationship strategy and help the financial industry to further understand the ongoing and changing needs of their target audience, as proven by the disruption brought by the pandemic. An example would be in the case of a customer with a credit loan history with a bank; whereby this is a prime opportunity for the bank to offer new credit or financial products based on the insights gained from the customer’s history, allowing for cross-selling and up-selling strategies.

Automating the sales cycle for the future

With the world going digital in a big way since the disruption from the pandemic, implementing sales force automation should now be mandatory for any existing sales pipeline. Digitising the sales cycle frees up resources and allows sales personnel to focus on the important tasks at hand – securing customers and closing a sales cycle efficiently without losing time. 

However, despite that, there is still a slow SFA adoption in many businesses due to the lack of understanding of the system and its benefits. This could cost a business not only monetary resources but also labour and time. The benefits offered by SFA would definitely transform the way a business runs in an organisation, ultimately leading to higher revenue and a better customer retention rate.

Want to kickstart the utilisation of SFA in your sales pipeline, especially in the financial and banking industry? Reach out to us at contact@juristech.net to know more about Juris Leads and Juris Go; our sales force automation software along with its companion on-the-go mobile app.

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Digital transactions are now the norm in this current climate. In fact, most businesses out there place an emphasis on digitising most of their interactions with customers, which has been proven to increase the efficiency of an operation and enhance customer satisfaction. However, the industry is still plagued with cyber threat issues when it comes to digital onboarding; the primary choice for many institutions with customer engagement. 

Despite its many benefits, digital onboarding battles issues such as fraudulent document submissions, phishing, data breach, middle man attack, and many more. Although the public widely agrees that digital onboarding has enriched the interaction process with businesses, there has also been a global increase in security issues related to digital onboarding, costing an average of USD 5.72 million to the financial industry according to IBM and Ponemon Institution

Understanding the equal benefits and danger of digital onboarding

Cyber-attacks are no longer limited to high-level targets, in fact, the most common attacks are targeted at businesses relying heavily on network applications. According to Precursive, 82% of enterprise organisations rate their onboarding approach as a key driver of value. This reflects a significant jump of digital onboarding being deployed and used everywhere in 2021 alone. Unlike traditional manual application submission methods, digital onboarding has been touted as both efficient and threatening at the same time. Although many institutions now have a devoted team to this specific process, the financial industry is still seeing a worrying statistic of cyber threats.

Part of the contributing aspects is the lacking of fraud detection features by the deployed system. As we know, digital onboarding can be a lengthy process involving multiple stages such as data submission, decision-making, approval and can also includes the disbursement stage. .. However, the rapid growth of digitisation in recent years has pitched solution providers into a race to get their products as quick as they can to the market; often at the cost of the security of the system. 

Enter Juris Access: build with security in mind

Understanding that digital onboarding for the financial industry takes security seriously, the primary goal during the development of Juris Access is to ensure the efficiency of the process is not compromised by security issues. The back-end system of this software is built to ensure the best-embedded fraud detection features. 

A feature to be highlighted from Juris Access is the ability to learn the customer journey processes, mapping it back to any existing engagement history (such as utilised device or phone numbers). This minimises the threat of fraudulent data submission that might lead to stolen identity cases. Besides that, Juris Access is also tightly integrated to an institution’s existing system, allowing a straight-through-processing and direct engagement between customers and institutions. In return, it expedites the decision-making process and eliminates the threats of middle-man attacks. 

However, the majority of security concerns in a digital onboarding cycle is still tied back to the initial stage of customer verifications during application submission. A rise in complaints of inhospitable user interfaces due to the required security layers has deterred many institutions in effective customer acquisition and retention. 

This has also been a goal during the development of Juris Access; making sure the interface is friendly and simplified with no compromise to the security layers. The interface is designed to be intuitive to create a personalised effect. The intuitive feature is imperative to the back-end system, where it learns the pattern of customer’s engagement with an institution, simultaneously letting them detect any anomalies to quickly notify either the customer (via multiple omnichannel platforms) or the institution for immediate action.

Moving forward with the digitisation of the financial industry

As the world prepares itself for more technology revolution in the upcoming future, it poses a question: where do we start with matching the advancement of technology to provide a sense of security demanded by the public? 

The digital evolution of recent years had end-users demanding more security protocols to anticipate the rapid growth of technology in the financial industry. Whether we realise it or not, the cyber threats would also grow with the growth of cybersecurity. And this is what makes Juris Access unique. Despite all the security features mentioned, what Juris Access is, is ultimately offering the most efficient digital onboarding process that allows an institution to gain the highest level of trust with their customers. 

Interested to know more about Juris Access? Visit Juris Access or contact us at contact@juristech.net

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2021 has certainly been nothing less than unpredictable as we continue our battle with the COVID-19 pandemic since the start of 2020. Many of us still find slight difficulties in adjusting to the new normal while the global economy also took a big hit and faced tremendous slow growth.

However, the Fintech industry certainly grows exponentially beyond the usual expectations and has led to outstanding achievements. This has certainly been true for us at JurisTech; with us hitting the 300 employees’ mark to cope with the ongoing demands for digital transformation. It might be rough sailing in 2020, but 2021 has taught us efficient remote working collaboration and we continue to push on with minimal hiccups.

Let’s take a look at some of JurisTech’s extraordinary achievements in 2021:

1. The launch of CollectXpress

Debt collection activities have been seeing an upward trajectory from the start of 2021. This definitely promises a smooth economic recovery globally; businesses demand higher accessible and extensive debt collection platforms to accommodate their collection activities needs. As one of the pioneers in the Fintech industry, we launched CollectXpress, a cloud-based debt collection platform, aimed at small and medium (SME) businesses.

2. The implementation of NexColl and Juris Mindcraft

As many embrace themselves for the swift economic turnaround in 2022, so were our clients. We implemented NexColl, one of our best-selling debt collection software, designed for debt collection agencies, for multiple clients, to help our clients to navigate through their existing collection activities. Our AI-based solution, Juris Mindcraft, was also deployed for an e-wallet business entity to help them enhance their customer interaction by offering a personalised service based on system analytics and data.

3. JurisTech joins Visa Fintech Connect Partner programme

Being recognised by a giant name such as Visa has certainly motivated us to spearhead new innovations and always uphold our standards. The recognition acknowledges JurisTech as one of the most progressive Fintech players in the Asia-Pacific region, cementing our position as the market leader.

4. CTOS to acquire 49% stake in JurisTech in a RM205.8 million deal

CTOS Digital Berhad, a credit reporting agency, has proposed to acquire 49% stake in JurisTech in a deal amounting to RM205.8 million. This acquisition will form a partnership to address the new emerging needs in the digital lending space. This will allow both companies to seek new opportunities to expand into new markets, besides coming up with new product offerings from the existing range of solutions from both companies.

5. JurisTech’s CEO, See Wai Hun, awarded EndeavHER Endeavor Entrepreneur Mentor Of The Year by Endeavor Malaysia

See Wai Hun is known as a strong advocate of women empowerment in the Fintech industry and has been actively involved in supporting Endeavor’s goals and missions. Besides winning the award, this year, Wai Hun has been invited as one of the panellists for Local Selection Panel for Endeavor Entrepreneur Track and a moderator for Endeavor’s signature webinar, the Blitzscaling Circle. Read more about it here.

6. JurisTech Hackathon 2021

How do you encourage your workforce to rise to the challenge of new innovations? Answer: Organise a company-wide hackathon. In late November, our marketing and communication team spearheaded an internal hackathon event to nurture new idea formations. We are excited to witness new ideas and innovations from our internal teams and the event was a success.

Event attendees during the closing ceremony

7. Partnership with Taylor’s University

Our visionary CEO, See Wai Hun and COO, Naaman Lee, has started a programme taking the undergraduates from Taylor’s University under our wings for first-hand on-the-job training in the Fintech industry for their internship placements. Besides that, JurisTech has also taken part in their webinars or talks organised for the students; offering first-hand input of the industry to them.

2021 has certainly been an amazing journey despite continuous trying time from the multiple outbreaks of COVID-19 virus variation. As we welcome 2022 in less than a week’s time, we continue to push forward with more innovations to offer better-integrated solutions that reach beyond business interactions. JurisTech would like to wish you a Happy New Year and see you in 2022. 

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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credit: Endeavor Malaysia

We are proud to announce that our CEO, See Wai Hun, has been awarded EndeavHER Endeavor Entrepreneur Mentor Of The Year by Endeavor Malaysia. 

Held at Metal Studio by Metal Bees, the event was attended by Endeavor board members and partners, along with participating organisation members across all industries. The event started with a welcoming speech by Brahmal Vasudevan, founder and CEO of Creador, and chairman of Endeavor Malaysia, followed by a pre-recorded speech by Linda Rottenberg, Endeavor Global’s Co-founder and CEO.

The emcees of the event, Neil Chong and Nurshaffira Izzad from Endeavor Malaysia

The event was hosted by Neil Cheong and Nurshaffira Izzad, staff members of Endeavor Malaysia; celebrating the success and achievements of local Malaysian’s entrepreneurs. Wai Hun has been awarded the award to celebrate her active role and contribution to the Fintech industry. As one of the first few Endeavor Entrepreneurs to pass the International Selection Panel (ISP) in 2014, Wai Hun is also known to go the extra length to support the goals of Endeavor in mentoring young entrepreneurs and supporting Endeavor’s mission.

Attendees listening in to the welcome speech by Endeavor Malaysia’s chairman

As a CEO for a tech company. Wai Hun has been a strong advocate for female empowerment in the tech industry and has spoken multiple times of the importance of growing and encouraging female leaders. In 2021, Endeavor was invited Wai Hun to moderate one of their signature webinars, the Blitzscaling Circle, where she hosted a session with Loi Tuan Ee (also known as Uncle Loi), the founder of Farm Fresh, a Malaysian dairy brand going places with their outstanding growth. This year also marked Wai Hun’s first year as a panellist for the Local Selection Panel for Endeavor Entrepreneur Track, a programme that matches mentors with young entrepreneurs to guide them in scaling up their business. 

The event also celebrated the achievements of other local entrepreneurs; 

• Rodney Wong, CEO of Munchy’s, for Mentor of The Year
• Rafiq Razali, Group Managing Director at Media Prima Berhad for Rising Mentor of The Year 
• Anthony Low, formerly from Nestle Malaysia for Distinguished Mentor of The Year
• Fadzarudin Anuar, founder and CEO of Fashion Valet, for Endeavor Entrepreneur Mentor Of The Year Award
• Eric Cheng, co-founder and CEO of Carsome, for High-Impact Endeavor Entrepreneur Of The Year

This award certainly marked the outstanding achievements of Wai Hun as a female leader and an entrepreneur. We at JurisTech are proud to stand behind her as we grow as one entity in the Fintech industry led by an extraordinary leader. 

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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JurisTech took part in the MDEC-JetroKL Digital Platform Transformation webinar last Tuesday on 16th November 2021. The objective of the webinar was for selected Malaysian Fintech companies to present and pitch the Malaysian Fintech landscape to the Japanese audience looking to break into the scene. JurisTech was invited to pitch about our company’s capabilities; other participating companies were CapBay (a P2P financing Fintech company), MDEC (Malaysia Digital Economy Corporation), and also Fintech Association of Malaysia (FAOM). 

The webinar kicked off with a simple introduction of the Malaysian Fintech landscape by FAOM and MDEC before it led onto CapBay and JurisTech pitching about their capabilities and expertise in supporting the Japanese audience to establish a base in Malaysia, intermittently translated by the assigned Japanese translator from JetroKL, Naoto Nomura. 

JurisTech spoke about the company’s capabilities, the services and products offered, as well as the company’s expertise in the Malaysian Fintech landscape. Wai Hun emphasises on JurisTech’s capabilities as one of the pioneers with in-house Fintech experts, besides having some of JurisTech’s products recognised by Visa.

She continued by delving into the challenges companies might face during the initial business set-up and product developments; as the multicultural demographic structure that includes multiple languages and religious practices can influence the purchasing decision made by the Malaysian market. Wai Hun then explained the social channel preferences of the Malaysian audience, with Facebook being the primary advertising method and WhatsApp as the preferred communication channel. 

JetroKL also coordinated a Q&A session; asking on behalf of the Japanese audience. Some of the questions directed to JurisTech revolved around what Wai Hun thinks of how banks and Fintech players in Malaysia can help to assist the underserved group. 

Wai Hun explains how the Fintech players in Malaysia assist the underserved market

Wai Hun elaborates on the advanced technologies implemented in JurisTech’s solutions that would help the financial and banking industry to identify the underserved audience and how the current Fintech landscape has diversified their products in order to offer more adaptive offerings. CapBay also opined on the new innovations the Fintech players came up with in order to bridge the gap between the financial institutions and the Malaysian audience.

The session closed with a summary of the topics and contents discussed in the webinar by JetroKL’s Japanese translator. JurisTech would like to thank MDEC and JetroKL for inviting us to take part in the webinar and we look forward to more in the future.

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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SMEs have always been one of the growth pillars for many global economies. However, the pandemic disrupts many industries. While the recent outlook is showing plenty of healthy improvements, SMEs continue to struggle to strive post-pandemic. However, if we look at the current situation, what applies pre-pandemic does not necessarily translate well into the post-pandemic age. SMEs now have a greater demand to ensure their moves during the pandemic pay off, especially for the sustainability of their operations.

In the name of an adaptive system to different business models

The Fintech industry has certainly taken notice of the growing demands of SMEs. According to the Fintech Malaysia Report 2019 by Fintech News, there are 198 players offering Fintech services and there has been an increasing amount of technology that is now geared to SMEs as their target market. 

For SMEs, low-code automation is very much welcomed as it allows greater flexibility in tailoring the interfaces to small and medium-scale enterprises. Besides, low-code also places an emphasis on automating the daily in-and-out processing of these business models, as it requires less workforce to maintain it. Process automation has been embraced as a significant feature, especially after the massive workforce entrenchment that happened in 2020. 

Maximising resources for small and medium-scale businesses

The workforce entrenchment has been a part of cost-reduction strategies for many SMEs, as they struggle financially to prolong their operation. Thus, when Fintech players started introducing credit products with real-time financing during the pandemic, it was seen as a brilliant move. 

Besides, this helps in the financial flexibility where capital is needed to maintain the liquidity of a business; especially where long payment terms are involved. The Fintech industry is certainly poised to take over conventional banking by offering P2P (peer-to-peer) and ECF (equity crowdfunding) financing. The Fintech players taking part in providing this financing crafted customer online journey with a simplified application process, expediting the approval process with increased transparency. 

When every cent is accounted for

Despite all the assistance provided by these SME-specific credit products, ultimately a business’ goal would always fall back to generating revenue and be paid by their debtors. However, with the current situation and the prolonged health concerns, there is a rising demand for the adoption of a cloud-based debt collection solution. With fewer employees on the roster, businesses develop a preference for automatic reminders to eliminate any mis-looked invoices while maximising their limited employees’ resources simultaneously. 

This has encouraged the growth of subscription-based debt collection solutions, placing 24/7 accessibility and cloud-based as key features to attract SMEs. The adoption of these platforms has led many Fintech players to innovate their existing debt collection products by incorporating seamless integration with other accounting software to enhance the overall experience.  

Building back the SME industry for the global economic recovery

As we welcome 2022 in less than a quarter of the year, the Fintech industry gears towards developing more SME-enabled solutions to assist the global economy to recover at a faster pace while keeping many SMEs afloat and thriving gradually. The world of Fintech is definitely here to offer more innovations; disrupting the traditional financial industry interestingly in a move that is welcomed by many. Supporting the SMEs industry would not only encourage a faster economic recovery but also benefit many countries’ GDP letting the world return to a slice of global prosperity that was halted abruptly when the pandemic hits. 

JurisTech’s products are developed with low-code technology to ensure the highest adaptive potential. If you are interested to know more about products that help SMEs grow their businesses, check out our CollectXpress, NexColl , and Juris Access for more information or reach out to us at contact@juristech.net

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CEO See Wai Hun,Taylor’s University Faculty Heads and JurisTech’s Marketing and Communications team

Taylor’s University’s finance and accounting faculty has invited JurisTech’s CEO, See Wai Hun, to give a talk on the current climate of Fintech and what the future foresees for the banking and financial industry. The talk was held last Friday, 15th October 2021, in a private session attended by 85 participants.

Our CEO started by sharing the history of Fintech, followed by a detailed explanation of what has been changing in the current climate. Wai Hun elaborated on how COVID-19 halted many ongoing operations for the financial and banking industry, the product of continuous lockdown and public fear of physical interactions, resulting in a dramatic acceleration of technology adoption globally.

Besides that, See Wai Hun also delves deeper into the foreseeable future of the technology that is being developed to further accommodate the change in all three industries (Fintech, banking and financial). She spoke about the four key technologies affecting the current progress; starting with blockchain technology, product-centric and service-centric products, cross-border open banking, and machine learning. 

The talk then turned towards a discussion of how the banking and financial industry changes the way it perceives customers and the creation of the products that were offered to the public masses. A few students pitched in their questions, asking if the job market would deviate from the established course and its impact on the future graduates. Wai Hun answered by stating at the current pace of technology development, it’s not only the future graduates who will be affected but also the current workforce and encouraged the students to “look forward to upskilling” to prepare themselves for their upcoming career path.

Continuing on, the lecturers asked Wai Hun to elaborate on what is her take on the Fintech progress, to which she replied the current changes are very much welcome and are set to break the traditional boundaries of the banking and financial industry. Foreseeing a major change in how the world is now exploring to tap into the unbanked, Wai Hun further explained how multiple technologies (such as blockchain) are now being studied by central banks globally to find a stable point to develop products that could serve this untapped market.  

The talk ended with a photo session for the representatives from JurisTech and Taylor’s University’s lecturers. We at JurisTech would like to extend our gratitude again for the invitation and hope to be invited again for another talk with Taylor’s University. 

Excited to start your career with one of the local Fintech pioneers? Check out our openings and learn more about one of the best tech companies in Malaysia.

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 Fintech Progress in Banking and Financial Industry: A talk discussing the future of Fintech with Taylor’s University appeared first on JurisTech.

2020 has definitely been a revolutionary year for the century; starting with the pandemic forcing multiple industries to evolve at an alarmingly fast rate and changing the way interaction is done globally, which allows an impressive upward trajectory of the tech industry. According to Deloitte, the pandemic prompted the financial industry to transition to adopting technology instantaneously, on top of getting investors intrigued by the changes being implemented in the industry. 

With the growing trend of tech innovation, comes the question of how sustainable the tech innovation bubble that has been popping out almost overnight last year? Readers, hold on to your seat as we comb through the list of what’s trending in the Fintech industry according to what experts predicted for 2022.

• Better financial inclusion with higher-tech literacy

The global economy certainly took a big hit since the pandemic arrived. With unemployment at an all-time high, global leaders look for a way to reduce poverty and boost prosperity simultaneously. According to World Bank, financial inclusion is a key enabler as a crucial step in solving the issue. 

Findex data in 2017 shows that around 1.7 billion adults globally are still unbanked. Being able to access a wider range of affordable financial solutions opens up a portal where inclusion is spread across equally. This will increase the spending ability for many and allow for higher-tech literacy. One way to facilitate this is to ensure the set up of transaction accounts is easily available for the world population to manage day-to-day living, to accommodate any unexpected emergencies, and for thorough financial planning (either short or long term). 

• The evolution of Fintech Regulation

When an industry goes through a rapid transition, the answer to the burning question everyone has in mind for the regulation is often a thorough look at the existing system we have today. However, overhauling regulations come at a cost and often affect the ongoing target audience and the businesses. 

In the current context though, Fintech regulation would foresee additions to accommodate the current growth without impacting the goals that have been set during the pandemic. Besides, as more embedded financial services are being offered throughout the world, it calls for new laws implemented to cope with consumer demand. 

• The buzzword: Artificial Intelligence and Machine Learning

Understandably, the Fintech industry is regulated tightly due to data privacy and security concerns. Although these two technologies have been around for a while, only recently it has become the talk in the industry. These technologies will take precedence over the next few years, as projected by KPMG. The banking industry gears up its AI-assisted services offering to ensure the highest level of customer satisfaction is being delivered.

However, it does not just end there. With the rising digital interactions comes the equivalent risk of cybersecurity attacks. The stark reality is artificial intelligence and machine learning is not only a step forward, but is imperative in the fight against fraud tech in the financial and banking industry.

As excited we are to embrace these emerging trends, careful observation has made us realise the unfulfilled demands of yesteryears are only being met when the pandemic changes how the world interacts. Late as it may seem, these trends are definitely beneficial in world economic recovery besides offering more transparent financial products in the future. 

A peek into the projection of 2022 of Fintech trends has the financial and banking industry buzzing with the new regulation set-up and incoming digital transitions. For the Fintech industry, not slowing down is definitely the answer in keeping the trajectory on track and in creating more innovation, eventually leading to heavy investment in financial technologies in the future. 

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, that helps banks and financial institutions to transform their digital landscape.

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Online collaboration platforms have easily evolved rapidly in recent years. Managing documents at work should no longer be a tedious task, but one that has an organised process facilitated by the help of a well-thought-out system with little human input. This process not only reduces the labour workload but also adds value to a business’ target audience.

However, despite the growing document management technologies, one wonders if these platforms offer the best security to their organisation. Data is the new king; said many, and one small leak could potentially be disastrous to the business’s future.

Growing concern for data privacy

Although many organisations have made the switch to digital customer experience and applications, there are still a significant number of customers preferring physical manual forms. This creates a tricky accumulation act on the business’ part; ranging from consolidating the forms from various channels to managing the customer’s expectation with the processes.

Besides, with physical form, there is a minor issue in ensuring customer’s privacy is well protected during submission and form processing. The operation that stands behind the business also has to painstakingly review every form submitted to vet incomplete applications or instant disqualification from prospective customers. This, in return, leads to an ununified customer experience, eventually affecting a business operation. 

Enter Juris V-Box: the way to better document management and operation

As part of welcoming the digital revolution developing rapidly due to the pandemic last year, Juris V-Box is developed as a solution platform specifically geared to enhance the existing document management systems. Juris V-Box is an instant, secure document request and collaboration platform. As an all-in-one platform, Juris V-Box is highly secured, guaranteeing utmost data privacy for both the business and customers. Besides that, every submission is encrypted, ensuring data safety during collection and processing.  

As previously mentioned, complications usually arise when there are multiple channels for document submission, even with digital applications. This is where Juris V-Box with the solution; an omnichannel platform that merges document collection regardless of the submission channels. With user-friendly features, Juris V-Box prompt customers of the documents needed for their applications based on the products they choose. This is also proven to be useful when there are third parties representatives involved as it cuts back on requirement’s checking time, enabling fast sales closure and ensuring a higher customer retention rate.

Transforming business operations for more value-added services

Juris V-Box creates a unified experience for all users, with automated reminders for both businesses and customers. On the customer’s side, every submission follows with a URL link to access the system and for document check purposes. Any correction needed can be made on the spot. In return, the business operation would receive the application immediately for the decision-making process and response delivery in a short amount of time. 

Being mobile-responsive, Juris V-Box’s user-friendly system uses drag-and-drop uploads by utilising a device’s camera access to ease the process for customers. Businesses can now manage the applications and preview the documents immediately while improving their processing time and the level of customer response. Apart from that, Juris V-Box offers advanced search features and history logs so that a business operation can follow up with unresponsive or incomplete applications.  

Let’s take a loan application process as an example. Currently, there are many channels one can apply for a loan, varying from financial comparison sites like iMoney.my to the bank’s direct website. Each channel may provide a different document submission journey, which can be a hassle for both the customers and the financial institution. With Juris V-Box, the platform offers a simple collaboration platform that is highly secured and encrypted and helps banks collate all documents in one platform. Not only that, it offers multiple levels of authorisation for document preview to ensure secured access and minimal data breach.

With the world evolving digitally fast and shorter customer attention span, document management no longer takes the back seat in a sales cycle. It quickly becomes the engagement priority between the business and their customer, allowing businesses to not only survive but also streamline their operations to better future engagement. When it comes to data safety and a highly secured platform, Juris V-Box is surely the way to better document management.

Interested to know more about Juris V-Box? Reach out to us at contact@juristech.net

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credit: Unsplash

LeadWomen, an organisation set up to empower women in the workplace, recently held a talk in collaboration with AXA Affin General insurance. The talk was moderated by Liza Liew, a Diversity Equity and Inclusion Consultant with LeadWomen and organised virtually on Microsoft Teams on Friday, 27th August. JurisTech’s CEO, See Wai Hun, was invited to give a talk about building JurisTech as the known homegrown Fintech brand in Malaysia today, alongside Sophia Ch’ng, the director of Nicholas Actuarial Solutions. 

Participants of AXA LeadWomen talk on 27th August, 2021

The talk is part of the AXA Women Leadership Development Programme and was attended by 24 women of various corporate backgrounds, all eager to know how best to be a leader in the current world dominated by technology and digital transformation. The talk started with Sophia Ch’ng sharing her career growth as an actuary to the position she is in now. She also elaborates on how the pandemic brought major changes to multiple insurance schemes to accommodate the needs and demands of the public. 

Our CEO, See Wai Hun, starts with a casual sharing of her journey with JurisTech; starting in 1997 during the Asian Financial crisis. She spoke about her early days as an entrepreneur, the challenges and obstacles overcome to sustain and empower JurisTech’s workforce, and her tips and advice on how to succeed as a digital leader today. Besides that, Wai Hun also elaborates on the shift in her leadership at the workplace and how she cultivates “micro-CEOs” as she manages the workforce to grow JurisTech’s brand.

“My leadership started as a salesperson as I brought in projects to sustain the company, to being hands-on in operation as a project manager. However, as I grow into being a leader, I turned my focus on creating “micro-CEOs” amongst the staff to ensure not only the company’s growth but also the workforce’s growth.”

See Wai Hun, CEO of JurisTech.

The session then wrapped up with a short Q&A. A few participants asked Wai Hun to explain further on her digital leadership as a female CEO and her advice on becoming a digital leader. Wai Hun explained how one on the road to becoming a digital leader should question themselves; Are you an idea person? Are you an inventor? Are you always thinking out-of-the-box? Are you outcome focused?. She believes answering yes to each of these questions reflects the person’s traits and ability as a digital leader. Wai Hun then explained that the most important trait of all is to embrace one’s  inner geek, which translates to being curious to learn about digital and tech. Sophia Ch’ng elaborates on the management practices at work and how to tackle the higher responsibilities given as one climbs up the ladder.

In all, the talk was enjoyed thoroughly and was met with a lot of enthusiasm from the women in attendance. JurisTech thanked LeadWomen for inviting our CEO to share her journey and look forward to participating more in the women empowerment session next time.

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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