JAKARTA, Indonesia, Sept. 21, 2023 /PRNewswire/ — In a groundbreaking move set to reshape the landscape of Indonesia’s electric vehicle (EV) market, AIZEN, the provider of AI-based financial services, has announced the launch of ‘EV-CreditConnect,’ an AI banking service tailored for EV enthusiasts.

According to research conducted by the Electric Mobility Ecosystem Association (AEML) and AC Ventures, Indonesia’s electric vehicle market is poised to grow exponentially, reaching a staggering $20 billion by 2030. Recognizing this tremendous growth potential, AIZEN has swiftly introduced AI-driven financial services to supply credits to the burgeoning Indonesian EV market.

AIZEN’s CreditConnect-EV, a cutting-edge AI financial services platform, is powered by advanced risk assessment algorithms based on AI and big data analysis. This innovative platform offers financial companies precise decision-making support, including risk assessment, collateral monitoring, and customized financial options.

Currently, AIZEN is forging strategic collaborations with local electric bike companies in Indonesia, including ‘SWAP’ and ‘NOA Bike,’ to provide electric vehicle financing services.

SWAP, a partner that has inked a Memorandum of Understanding with AIZEN, is engaged in electric bike production and operates charging stations in Indonesia. SWAP’s vehicles are equipped with smart connectivity features, enabling riders to monitor battery status and performance in real-time through a mobile app. Additionally, it facilitates easy access to charging stations, ensuring a distinctive user experience.

CreditConnect-EV, in tandem 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 edge over traditional financial institutions.

AIZEN is committed to expanding Indonesia’s EV ecosystem, furthering the model of financial innovation. By supplying essential financial services to a vast customer base seeking to transition to electric cars and bikes, AIZEN aims to facilitate smooth access to the required funds.

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 garnered recognition for its responsible AI initiatives, securing the title of “Responsible AI” from the Monetary Authority of Singapore (MAS). Moreover, it clinched the second position among global companies in the Singapore Fintech Awards. The company’s technological prowess was further acknowledged when it claimed the top spot in the Demo Show category at ‘HongKong Fintechweek,’ solidifying its status as a leading innovator in the Asian financial sector.

In conclusion, AIZEN’s unveiling of EV-CreditConnect represents a remarkable leap 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 significant impact in this thriving industry.