Greener Finance in Indonesia's EV Market

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【Summary】AIZEN, an AI-based financial services provider, has launched 'EV-CreditConnect,' an AI banking service tailored for the electric vehicle (EV) market in Indonesia. The country's EV market is projected to reach $20 billion by 2030. AIZEN's platform, CreditConnect-EV, offers risk assessment, collateral monitoring, and customized financial options. AIZEN has partnered with local electric bike companies like SWAP and NOA Bike to provide EV financing services.

FutureCar Staff Sep 21, 2023 4:20 PM PT

Greener Finance in Indonesia's EV Market

JAKARTA, Indonesia, Sept. 21, 2023 /PRNewswire/ -- AIZEN, the provider of AI-based financial services, is set to revolutionize Indonesia's electric vehicle (EV) market with the launch of 'EV-CreditConnect,' an AI banking service tailored for EV enthusiasts.

Research conducted by the Electric Mobility Ecosystem Association (AEML) and AC Ventures reveals that Indonesia's electric vehicle market is projected to reach $20 billion by 2030. Recognizing this immense growth potential, AIZEN has swiftly introduced AI-driven financial services to cater to the burgeoning Indonesian EV market.

AIZEN's CreditConnect-EV platform utilizes advanced risk assessment algorithms based on AI and big data analysis. This innovative platform provides financial companies with precise decision-making support, including risk assessment, collateral monitoring, and customized financial options.

In collaboration with local electric bike companies in Indonesia, such as 'SWAP' and 'NOA Bike,' AIZEN is offering electric vehicle financing services. SWAP, a partner of AIZEN, is involved in electric bike production and operates charging stations in Indonesia. Their vehicles are equipped with smart connectivity features, allowing riders to monitor battery status and performance in real-time through a mobile app.

CreditConnect-EV, in conjunction with SWAP's services, has developed a risk assessment model for riders and electric bike charging stations. This partnership ensures efficient loan linkage and comprehensive portfolio management services, giving AIZEN a competitive advantage over traditional financial institutions.

AIZEN aims to expand Indonesia's EV ecosystem by providing essential financial services to a wide customer base looking to transition to electric cars and bikes. By facilitating smooth access to the required funds, AIZEN is contributing to the advancement of Greener Finance.

Damien Ngai, representing AIZEN in Indonesia, stated, "By introducing AI-driven financial services that expedite credit decision-making in the Indonesian EV market, we are contributing to Greener Finance."

AIZEN, a member company of GDIN foundation (formerly known as Born2Global Centre), has been recognized for its responsible AI initiatives, earning the title of "Responsible AI" from the Monetary Authority of Singapore (MAS). Additionally, it ranked second among global companies in the Singapore Fintech Awards and claimed the top spot in the Demo Show category at 'HongKong Fintechweek,' solidifying its position as a leading innovator in the Asian financial sector.

In conclusion, AIZEN's launch of EV-CreditConnect marks a significant milestone in Indonesia's electric vehicle market. With strategic alliances, innovative financial solutions, and a commitment to a greener future, AIZEN is poised to make a substantial impact in this thriving industry.