KUALA LUMPUR, 26 September 2024 – Advance Intelligence Group Limited (“AIGL”), the fintech startup behind Atome Malaysia, has been listed in the inaugural NextGen Tech 30, a prestigious list celebrating Southeast Asia’s Top 30 tech startups.
The award is the region’s first collaboration involving government and private organisations, including tech venture capital firms Granite Asia, KKR and Northstar Group, Singapore’s Economic Development Board and InfoComm Media Development Authority (IMDA) and DBS Bank.
It was presented on Tuesday, 24 September 2024 at Singapore’s stock exchange, SGX Centre, by Deputy Prime Minister of Singapore, Heng Swee Keat.
Winners were assessed based on several key criteria:
- Demonstration of AI or digitalisation that solve problems more efficiently
- Minimum US$20M revenue, or year-on-year revenue growth of 30% or higher
- Headquartered in ASEAN or operating primarily within the region
- Clear ESG (Environmental, Social, and Governance) strategy and long-term value creation.
Fintech behind Atome Malaysia being in the top 30 tech startups
In recent industry stats published by Bank Negara Malaysia and Ministry of Finance and Securities Commission Malaysia, Atome is one of Malaysia’s leading buy now pay later platforms.
Active buy now pay later account holders in Malaysia grew 60% year on year to reach 3.7 million consumers. Over 700,000 merchants accept BNPL payment with 107% year-on-year growth in transaction volume. At the same time, BNPL accounted for 0.07% of total household debt while the number of account holders with overdue payments fell from 5.8% to 3.8% year on year.
Daphne Lourdes, General Manager of Atome Malaysia, said, “With the growing popularity and acceptance of alternative payment methods, both amongst consumers and merchants, this award is a welcome recognition of how we are driving technological innovation and digital economy growth in Malaysia.
“But what many might not know is that cutting edge AI and disciplined, prudent risk management technology is the cornerstone of a healthy and sustainable buy now pay later business. We use AI at every stage of a BNPL transaction to underwrite identity risk, credit risk as well as transaction level risk, and we are honoured that this expertise has been recognised by such a prestigious list of industry players.”
Follow us on:
Read More News at #latestmalaysia #BusinessNews and #WorldFuture
