SEOUL, South Korea, Sept. 15, 2022 /PRNewswire/ — AIZEN Global (CEO Kang Jung-Seok), an artificial intelligence (AI) fintech startup, was selected as one of the top five global startups at Startup Wheel 2022, the largest startup competition in Vietnam.
Based on the presentations of 50 global companies competing at this year’s Startup Wheel event, the judging committee selected the top five finalists after rigorous evaluation. AIZEN Global, an AI fintech company, took the honor of being selected as one of the top five finalists.
As a member of the Born2Global Centre (CEO Kim Jong-kap), AIZEN Global announced that it had been selected as one of the five finalists after a fierce competition at Startup Wheel attended by more than 250 startups from 32 countries.
Since its launch in 2013, Startup Wheel has been organized by the Business Startup Support Center (BSSC), a state-run agency under the Ho Chi Minh City People’s Committee that is dedicated to fostering startups. The recent Startup Wheel event was the 10th event held so far. With the participation of startups, venture capitalists (VCs), and institutional officials from all over the world, all startups had opportunities to attract investment and engage in collaborations at the event. From August 25 to 26, at least 10,000 people attended Startup Wheel, and more than 200 products and services were exhibited. The exhibition organizer estimated that more than 1,400 VCs and accelerator representatives attended.
This year, AIZEN Global and LabSD, both from Korea, and Qmed.asia from Malaysia, Luwjistik from Singapore, and Career Hackers from Hong Kong were selected as the top five companies.
Since entering the Vietnamese market, AIZEN Global has been providing various industries with integrated services through its “CreditConnect” AI banking as a service platform in cooperation with local financial institutions. CreditConnect is an embedded banking service that connects the data platforms of various companies, including local shopping, mobility, education, and medical services, to financial institutions.
The company was the first in Korea to introduce AI fintech services, becoming a leader in the industry by introducing AI solutions for major domestic financial institutions, including Woori Bank, Woori Card, Hyundai Card, and Samsung Fire & Marine Insurance, and achieving industry-specific digital innovation. In addition, it has been recognized for its innovative achievements in Asia, including ranking second place in the Singapore FinTech Festival (SFF) Global FinTech Awards, being selected as one of the top 10 finalists by the Monetary Authority of Singapore (MAS) for Responsible AI, winning first place at Hong Kong FinTech Week, and being included on the Gartner Cool Vendors list.
In addition, AIZEN Global focuses on “revitalizing the data economy” and is expanding its partnerships with domestic and global financial institutions and data economy platforms from various industries to improve access to credit. In particular, CreditConnect is powered by its proprietary AI multi-modeling platform designed to automate the core decision-making processes in every phase of the credit cycle. It provides banks with a practical and agile way to diversify their loan portfolios with no heavy upfront costs while helping businesses get the capital they need to scale at just the right time.
In Korea, CreditConnect provides fast and affordable financing for online sellers based on end-to-end supply chain data from purchasing to inventory, fulfillment, sales, and returns. The company is also expanding to the electric vehicle (EV) market by collateralizing real-time battery data to finance based on machine learning-based residual value predictions. Based on its scalable business model, it is also expanding its banking services in Vietnam and Indonesia.
AIZEN Global CEO Kang Jung-Seok said, “Being selected as one of the top five global companies in Vietnam, gives us an opportunity to further expand our CreditConnect partnerships in the Southeast Asia market.” He went on to add, “Our AI financial services will prove the excellence of Korea’s financial technology solutions in the Asian market.”