“Ieza Yusof Sets Up A.I. Unit to Help Malaysians Generate More Wealth with Fewer Risks”
: Partnership with AI firm MyFinB aims to make wealth creation easier and achievable
Kuala Lumpur, 21stFebruary 2020 – For millions of Malaysians who struggle with their finances, along with changes in their life circumstances, these issues may now be a thing from the past. For leading financial planner and advisory firm, Ieza Yusof Consultancy Sdn Bhd, the solution is simple – use A.I. to map out the scenarios and simplify complicated scenarios or variables – that will then come out with a proposed set of measures for the consumers.
The challenge that the government is facing now is to address retirement adequacy which could be due to the low financial literacy of Malaysians. According to EPF, many Malaysians are not contributing enough towards their retirement – where two out of three EPF members aged 54 have retirement savings of less than RM50,000, putting them at risk of living below the poverty line. Meanwhile, 50% of EPF members above the age of 55 exhaust their savings in five years while 31% of them achieve savings of around RM228,000 when they turn 55.
To address these concerns, IYCSB, in partnership with MyFinB Group, embarked on a partnership to develop a smart toolkit that provides a strategic roadmap on how to create assets and improve cashflows. Called WealthVision (WV), the AI-driven platform can profile current and future needs and identify areas on how to boost the cashflow, asset ownerships and income position whilst managing risks.
According to Ms Ieza Yusof, the founder of IYCSB, “Malaysians lack funding for their retirement years due to unplanned savings, exacerbated by rising medical costs. These problems will be compounded in the coming decades, thanks to longer life expectancy and lower economic growth, which would impact interest rates and investment returns. The need to proactively manage one’s finances is more critical than ever. But Malaysians cannot be entirely served by financial advisors alone as the complexities faced by each party are high and multi-varied.”
MyFinB spokesman agreed and added, “There are many financial advisory firms that are aggressively selling financial products that people don’t really need, or that the people themselves are unaware that the products are over-priced and provide inadequate returns or coverage. A.I. can help financial advisors become more trusted by the public as it helps to diagnose independently and objectively without being influenced by any specific product-related incentives. Humans then play a highly important role in “humanising” A.I. by adding the human touch points and relationships with the customers.”
WealthVision will be officially launched to the Malaysian public this first quarter and will be rolled out to the first 1,000 customers in Malaysia. Its second phase will include exporting the platform to markets in OIC countries in the second half of the year.
We started MyFinB (MFB) in order to fill a big need — giving management, board and decision makers a fast and simple way to understand complex and voluminous data. We feel that in today’s space, spending money sourcing and aggregating data, spreadsheets and dashboards as mechanisms to understand data simply aren’t value for money. People want the insights and recommendations the data supports—about their operations, about their business, about their future. And, what better way to tell stories than through analytics?
That’s why MyFinB is heavily focused on creating exceptional tool driven by our proprietary analytical platform that transforms structured and unstructured financial data into meaningful and insightful narratives people can simply read – and more importantly, MAKE BETTER DECISIONS. MyFinB enables organisations to spend less time crunching numbers and more time providing their management and other stakeholders with actionable information that, ultimately, helps them make better financial decisions.
For more details, please visit www.MyFinB.com and email: corpcomms@MyFinB.com.
ABOUT IEZA YUSOF CONSULTANCY
NORRIZA MUHAMMAD YUSOF, atau lebih dikenali sebagai MJ (Mak Jerung), pengasas kepada Ieza Yusof Consultancy Sdn Bhd. Berpengalaman lebih dari 18 tahun dalam kewangan dan juga pelaburan.
Mula melabur hartanah pada usia 22 tahun sehingga sekarang. Banyak kesilapan dan jerat-jerat kewangan dan pelaburan yang beliau sudah lalui yang wajib anda tahu supaya anda tidak melakukan kesilapan yang sama.
Mak Jerung akan berkongsikan kepada anda bagaimana MJ membina kekayaan pelaburan dengan menggunakan profile & pengurusan kewangan yang betul.
Kisah perjalanan beliau yang sebelum ini membuatkan beliau terus kuat bagi membantu lebih ramai orang diluar sana untuk memiliki hartanah dan menjadi pelabur yang bijak.
Bukan mudah mencipta pendapatan, penat lelah kerja / business, jangan lebur di pertengahan sehingga tak jumpa jalan untuk bersara.
Further information can be obtained at www.iezayusof.com