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ADVANCE.AI, a leading Singapore-based artificial intelligence (AI) and big data company in Asia, has announced the launch of its One Stop Platform, a holistic enterprise-grade solution for faster and more accurate customer onboarding, risk management and fraud prevention for enterprise clients.
Founded in 2016, ADVANCE.AI currently serves over 800 enterprise clients in the banking, financial services, FinTech, payments, retail, and e-commerce sectors across South and Southeast Asia, Latin America and mainland China. Key clients include Standard Chartered, Bank BTPN, KEB Hana Bank, Bank Jago, Shopee and Indonesia's GoTo group. ADVANCE.AI's parent company, Advance Intelligence Group, recently completed a USD400 million + Series D round, which values the Group at USD2 billion, making it one of the largest independent technology start-ups based in Singapore.
Among the key business challenges the One-Stop Platform tackles are better risk information systems and technology infrastructure; lack of quality data vendors; complying with greater regulatory complexity; and resource and time requirements to integrate data from multiple vendors. The platform's key capabilities include digital identity verification, credit scoring, social media data and decision analytics, fraud detection, AML screening, and transaction monitoring, delivered through an easy-to-use, unified and customisable dashboard.
Lim Teng Sherng, Chief Commercial Officer of ADVANCE.AI, said: “Today's digital world is evolving quickly and enterprises need to keep up and stay relevant more than ever. That's why we're delighted to launch our new One-Stop Platform, which brings together in a single dashboard our full suite of solutions across data, decisioning, and analytics. By leveraging this powerful enterprise-grade suite of capabilities, businesses can orchestrate their own workflows and make smarter, faster and more accurate risk decisions quickly and easily. The end result is better resource efficiency, faster time to market and lower costs.”