Category Archives: fusionex

Leading Fintech and Payment Group Adopts Fusionex Big Data Analytics and AI

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fusionex founderSINGAPORE–(BUSINESS WIRE)–Fusionex, a leading data technology provider specializing in Big Data Analytics (BDA), the Internet of Things (IoT), Machine Learning, and Artificial Intelligence (AI) today announced that a leading financial services group, in an effort to enhance its e-payment business, is now utilizing Fusionex Big Data Analytics and AI as part of the group’s foray in technological solutions to gain a deeper understanding of its customers with the data at its disposal.

fusionex ceo Big Data Analytics is an end-to-end data management and analytics platform with the ability to analyze voluminous amounts of data at near-real-time speed to reveal trends, patterns, and hidden insights.

The client, which is one of the leading fintech groups in the region, has a vision to be the leading provider of micropayments, in line with their vision of a cashless society. The financial services group manages a massive cashless system and platform that allows its users to store currency in portable digital wallets and use them at various payment points including F&B and retail.

Fusionex International Founder and Group CEO Dato’ Seri Ivan Teh commented, “Each day, millions of transactions are performed on the client’s platform. With Fusionex Analytics and AI, they will now be able to harness the power of Big Data to manage this data tsunami. By consolidating disparate data sets, the client may develop a perceptive understanding of user behavior to craft targeted promotions, implement real-time pricing, and manage risk.”

With proper adoption and utilization of Fusionex Analytics’ capabilities, the client will also be able to detect if there are large crowds at the various payment points and accurately determine peak hour patterns at merchant outlets. Remedies for congestion such as rolling out additional payment points to high traffic areas can then be swiftly undertaken. The provided platform will help the client cope with the massive data that is flowing through its veins.

“The client is embracing this data-driven age by leveraging our offerings and using data to provide a dynamic management of information, improving convenience for the community, and modernizing the payment ecosystem as a whole,” Teh added.


About Fusionex

Fusionex is an established multi-award winning data technology provider specializing in Analytics, Big Data, Machine Learning and Artificial Intelligence (AI). Its offerings are focused on helping clients unlock the value and derive insights from data. Fusionex is the largest Big Data Analytics company and market leader in ASEAN, bringing state-of-the-art, innovative and breakthrough data-driven solutions to its stable of clientele (including Fortune 500, FTSE companies, large conglomerates as well as a wide array of small and medium enterprises (SMEs)) that spans across the United States, Europe as well as Asia Pacific.

Fusionex has entered into a strategic partnership with Alibaba Cloud to drive digital transformation across the region.

To learn more about Fusionex, visit https://www.businesswire.com/news/home/20180711005220/en/Leading-Fintech-Payment-Group-Adopts-Fusionex-Big

Powering Alibaba’s eWTP with big data analytics, AI and machine learning

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KUALA LUMPUR: It has been more than a year since the Digital Free Trade Zone (DFTZ) initiative was launched in Malaysia and although public attention was only revived a week ago during the launch of Alibaba Group Holding Ltd’s first regional office here, several local companies have already been hard at work making the ambitious project a reality.

Big data analytics firm Fusionex International Plc is one of them, having led a consortium which secured a contract to provide the e-Services platform for the DFTZ from the Malaysia Digital Economy Corp.

The awarding of the contract was announced in November last year and according to Fusionex, has since been up and running with more than 3,000 small and medium enterprises (SMEs) on board currently.

“More and more of [these companies] are starting to appreciate that it is important to level up and capitalise on the robust growth in e-commerce and the export market,” said Datuk Seri Ivan Teh, Fusionex founder and chief executive officer of Fusionex.

He added that many local SMEs that Fusionex has spoken to are receptive, open-minded and cognisant of the global language.

“They are open and want to embrace technology as long as it’s easier, faster, better, and more cost-effective than the status quo. In short, they are constructive but might be facing challenges in areas such as market access, funds, modern skills and technology. This is where DFTZ’s e-Services can assist them,” Teh told The Edge Financial Daily in an email exchange.

The platform is key to realising the e-World Trade Platform (eWTP) that has been one of Alibaba’s key initiatives under the DFTZ banner and aims to provide Malaysian SMEs access to global consumers via e-commerce.

fusionex founder

“The e-Services platform functions as a one-stop digital trade facilitation platform, that is integrated with a multitude of business service platforms, e-marketplaces, government agencies, logistics providers, freight forwarders, agents, SMEs and other service providers,” said Teh.

The platform aims to “bridge the gap in terms of know-how, reduce costs, as well as avoid or minimise unnecessary delays and encumbrances associated with the old way of manually doing things,” he said, adding that it is meant to be highly scaleable and inclusive.\

According to Teh, the platform is powered by big data technologies, artificial intelligence (AI) and machine learning and is “designed to help merchants — regardless of shape and size — to level the playing ground, and do so without incurring exorbitant costs”.

Fusionex is also riding on the strength of Alibaba Cloud, what with being the latter’s official strategic partner in this region.

“They are a great, committed partner,” Teh said of Alibaba Cloud, noting that the collaboration is synergistic as the latter “has a great cloud offering, whereas Fusionex is a leader in big data technology, AI and machine learning with a strong international reputation.”

While Fusionex may not be a household name to most Malaysians, it has certainly made waves overseas. The company had, until July last year, been listed on London’s Alternative Investment Market.

However, Teh had decided to take the company private after five years on the market due to what he reportedly said was a persistently undervalued stock.

Without disclosing any figures, Teh shares that Fusionex has “invested significantly” and will continue to invest as it is fully committed to ensuring the success of the e-Services platform.

He did not reveal the names of the group’s partners in its consortium, but that they are local players with the relevant expertise and experience.

Teh pointed out that like the DFTZ itself, the e-Services platform is not constrained to physical hubs such as the KL Aeropolis logistics hub being developed by Malaysia Airports Holdings Bhd and Cainiao Smart Logistics Network (Hong Kong) Ltd.

“e-Services will be an open platform that welcomes multiple business service providers, be it forwarding agents, logistics players, and of course very importantly, good local SMEs with great Malaysian products.”

“The cost benefits and efficiencies these players enjoy would ultimately trickle down to consumers [in the form of] faster, more efficient and more cost-effective products and fulfilment,” he said. http://www.theedgemarkets.com/article/powering-alibabas-ewtp-big-data-analytics-ai-and-machine-learning

Malaysian SMEs should join Alibaba’s Singles’ Day sale

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Local small and medium enterprises (SMEs) are urged to get onboard China’s biggest e-commerce platform, Alibaba Group Holdings Ltd, and take advantage of the newly launched Digital Free Trade Zone (DFTZ) to expand their business horizon abroad.

Minister of Transport Datuk Seri Liow Tiong Lai said via Alibaba, local SMEs could also be part of the Singles’ Day sale and promotion that is held every Nov 11.

Ivan Teh

For example, the China-based company recorded US$25 billion (RM102.88 billion) in sales during the last Singles’ Day sale, joined by as many as 60,000 international brands and merchants.

“As such, our SMEs must quickly get onboard the Alibaba platform so that we also can participate in the Singles’ Day sale next year. I am confident that it will be another sales record,” he said after launching the Ninth Pikom Leadership Summit in Kuala Lumpur yesterday.

He said that Malaysia’s e-commerce operator, Lazada, also experienced explosive growth in Malaysia and across the region, racking up RM96 million in sales via 6.5 million items ordered during the one day sales event.

On the Singles’ Day sale, Shopee has generated an increase in search interest by 71.4%, following by 11street (66.7%), Hermo (50%) and Zalora (25%).

“Based on the search interest on Nov 11, the five most popular e-commerce (platforms) in Malaysia are Lazada, Shopee, 11street, Zalora and Hermo,” Liow said.

The DFTZ that was launched early this month by Prime Minister Datuk Seri Mohd Najib Razak together with Alibaba founder Jack Ma, is expected to provide 1,972 Malaysian SMEs the opportunity to sell their products online.

Liow added that the DFTZ will position Malaysia as the regional e-fulfilment hub for Asean consumers.

He said the existence of phase 1 of the DFTZ facility should be fully capitalised by local players to deliver their products to the Chinese market.

“Cainiao Network (Technology Co Ltd) and Malaysia Airports Holdings Bhd will set up a 24ha e-fulfilment hub in phase 2 of DTFZ, slated to be operational by 2020,” he said.

The ministry has also targeted to increase air cargo volume in Kuala Lumpur International Airport up to three million tonnes by 2050, compared to the current 726,000 tonnes.

Meanwhile, at the launch, Liow also witnessed a tripartite memorandum of understanding (MoU) between Pikom (National ICT Association of Malaysia), CyberSecurity Malaysia and Fusionex Corp Sdn Bhd to enhance information and communications technology and data security.

Fusionex MD Datuk Seri Fusionex Ivan Teh said the MoU would pave the way to accelerate the rate of big data analytics in Malaysia.

He said the MoU will see both parties working together to provide training in the area and encouraging the building of data skillsets within the workforce.

“It will be the push needed to create, educate and inspire a new generation of data professionals in line with the MDEC’s (Malaysia Digital Economy Corp) aim to have 20,000 data professionals by 2020,” he said. https://fskm.uitm.edu.my/scds2016/abstractivanteh.html

Fusionex CEO Ivan Teh bags technopreneurship award

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Kuala Lumpur: Fusionex Managing Director/Chief Executive Officer, Datuk Ivan Teh, was awarded the ‘Technopreneur of Excellence 2017 Award’ at the National ICT Association of Malaysia (PIKOM) ICT Awards ceremony recently.

In a statement Monday, Fusionex Ivan Teh said, the award was in recognition of its achievements and contributions towards growing and supporting the information and communications technology (ICT) sector in the region and was reserved for individuals demonstrating ICT best practices.

fusionex ivan teh

“The award is also to commend the company’s diligence, commitment and continuous innovation.

“It marks the continuous excellence exhibited by Fusionex, helmed by Teh, and follows the firm’s earlier win of the ‘Company Excellence Award’ in 2016,” it said.

The global information technology company said as a premier data technology player, Teh has also led the firm to strike a strategic alliance with Alibaba Cloud, one of the fastest-growing cloud providers in the world.

“The company’s technology is also incorporated into the syllabus of certain local universities to encourage homegrown ICT talent,” it said. – Bernama

For more news: https://www.crunchbase.com/person/ivan-teh