MyFinB (M) to Share Bank and Enterprise Project Experience with IBM Singapore
: One of Three Fintechs Showcased to Singapore Audience
Kuala Lumpur, Malaysia – 13 September, 2017 – MyFinB Malaysia is invited to share its A.I. technology that is being implemented in Peninsula Malaysia for banks and SMEs. This is part of the IBM showcase to its clients and start-up ecosystem in Singapore; and MyFinB is one of its strategic partners pertaining to IBM Bluemix and IBM Watson.
“We are currently servicing a major bank in Malaysia that is involved in SME financing and development since October 2016. More than 600 companies have benefited from using our tools via the banks’ intervention officers and business counsellors. Basically, they are tasked to help improve the SMEs’ financial health and ensure prompt payment of their financing obligations to the bank,” according to MyFinB CEO, M Nazri.
“In the next few months, we hope to include more features using IBM Watson’s sentiment engine to assess industry and company perception via social media and news wires. This will complement well with our financial analysis engine that uses structured data and turn them into narrative insights.”
Nazri further adds that since loan evaluations “can take two to four weeks”, those who are eligible for funds and need them quickly to meet working capital needs are penalised.
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MyFinB sets out the vision of helping more than 100m businesses worldwide make sense of their financial statements using its proprietary Artificial Intelligence (AI) and Natural Language Generator (NLG) engines. With regional headquarters in Singapore, Malaysia and UK, it serves four segments (financial institutions, accounting and consultancy firms, government agencies and enterprises) globally – and help them achieve higher productivity, lowered risks and better shareholder value.
For more details, please visit www.MyFinB.com and email: corpcomms@MyFinB.com.