AIZEN, Expanding EV Financing through AI Finance
Seoul, Korea, January 13, 2023 – (SEAPRWire) – AIZEN, an AI finance company ranked second in the Singapore Fintech Awards, declared that it is expanding E-mobility financial services through AI-based banking service, ‘CreditConncet’. In particular, it was announced that it formed partnerships with fast-growing local mobility companies in the Asian market to supply banking services using data from electric vehicles and electric bikes. It is expanding the ’embedded finance’ model to enable a fast supply of financial services through AI technology.
AIZEN is focusing on supplying AI technology for future mobility financial services by bolstering businesses in the ASEAN region. The Monetary Authority of Singapore (MAS) named AIZEN GLOBAL as the second-best global company in the “Singapore Fintech Awards 2020” and selected it as a finalist in the global category alongside Swiss Re (insurance) of Switzerland and BNY Mellon (banking) of the United States. It also was selected for the “AIDA (responsible adoption of Artificial Intelligence and Data Analytics)” project by MAS and recognized as an Asian financial innovation to take part in the research for an AI financial model with the Singapore financial authorities.
AIZEN strengthened its partnership to provide ‘EV-CreditConnect’, which offers banking services for ESG finance. It provides credit services to various mobility platforms by collecting, analyzing, and managing related data and providing AI banking services in order to enable EV battery financial services. In particular, it holds about 150 patents related to data convergence of electric vehicle batteries and concentrates on mobility AI finance. The battery of an electric vehicle (EV) is an important factor to consider in EV financing, as it can affect the performance and value of the vehicle. The condition of the battery can also affect the residual value of the vehicle, which can be an important factor in the financial performance of a loan. ‘EV-CreditConncet’ can be used to analyze data on the battery and other factors to help lenders better understand and manage the risks associated with EV financing.
Also, AIZEN presented a vision of future finance using EV Financing at the CES 2023 exhibition in the United States. A wide range of financial services with high approval rates and affordable interest rates will be made available to many different data platform customers (non-financial companies), and by doing so, the data platforms will offer financial services to win over loyal customers. In addition, financial institutions expressed that they could expand their customers through banking-as-a-service (BaaS).
AIZEN has achieved investments totaling KRW 15 billion in banking, securities, and VC and is also conducting new investment rounds to fully expand its CreditConnect businesses in Singapore, Indonesia, and Vietnam. Through ESG finance, it is strengthening partnerships to share the vision of providing AI financial services. CEO Kang Jung-seok said, “We are expanding to vitalize the data economy in various industries through financial technology,” and, “We will lead the way for eco-friendly financial services by expanding the ‘CreditConnect’ service so that AI financial services can be provided in the e-mobility industry.”
Brand: AIZEN Global
Contact: Hyeree JANG, Director
SOURCE: AIZEN Global
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