AI-based fintech platform, AIZEN Global, on Thursday, said the company has entered the Indonesian electric vehicle (EV) market with the launch of an AI banking service called ‘EV-CreditConnect’ tailored for EV enthusiasts.
Electric Mobility Ecosystem Association (AEML) and AC Ventures’ research revealed that Indonesia’s electric vehicle market is expected to see a growth, attaining $20 billion by next year. AIZEN has introduced AI-driven financial services to supply credits to the growing Indonesian EV market, acknowledging its growth potential.
AIZEN’s CreditConnect-EV aims to provide innovative AI financial service, risk assessment algorithms, which offers financial companies with precise decision-making support, including risk assessment, collateral monitoring, and customized financial options.
The company said it is collaborating with Indonesia’s local electronic bike companies like SWAP and NOA Bike to provide electric vehicle financing services.
The new partnership of CreditConnect-EV with SWAP’s services developed a risk assessment model for riders and electric bike charging stations and focus on efficient loan linkage and comprehensive portfolio management services.
Damien Ngai, representative of AIZEN Indonesia said, “By introducing AI-driven financial services that expedite credit decision-making in the Indonesian EV market, we are contributing to Greener Finance.”
The Seoul, South Korea-based firm said it is expanding Indonesia’s EV ecosystem and with the supply of essential financial services to a vast customer base seeking to transition to electric cars and bikes, it aims to facilitate smooth access to the required funds.
