Friday, April 9, 2021

Innov8tif's OkayDoc Named as Top Winner for Huawei Spark Malaysia's Tech Competition

This press release was published on 8th Apr 2021 on Huawei.

[Kuala Lumpur, Malaysia, 8 APRIL 2021] Innov8tif emerged the winner for its OkayDoc platform today in Huawei Technologies (Malaysia) Sdn Bhd’s Huawei Spark competition, with DoctorOnCall placing second and MHub coming in third.

OkayDoc is a set of computer vision algorithm that automates ID authentication and prevents fraud in e-KYC (electronic know your customer) through visual zone inspections, security feature detection and content tampering checks.

DoctorOnCall delivers healthcare services like online doctors, specialists, pharmacists, screenings and vaccines directly to users. They have Artificial Intelligence (AI) doctors and 5G Internet of Things (IoT) Pods that aim to improve healthcare for at least 700 million people in Southeast Asia.

MHUB is the leading end-to-end property sales transaction platform that speeds up and simplifies the property sales cycle by connecting developers, agents, banks, lawyers and buyers.

Source: Huawei.com

The companies were among the 10 finalists shortlisted from more than 140 entries in the Huawei Spark competition.

The competition is part of the Huawei Spark programme, which aims to incubate and accelerate company growth and build an ecosystem for businesses in the Asia Pacific (APAC) region.

Huawei Spark is held in collaboration with the Malaysia Digital Economy Corporation (MDEC), TusStar (Malaysia) as incubator partner, and powered by TM ONE – the enterprise and public sector business solutions arm of Telekom Malaysia Berhad (TM) – through its α Edge (pronounced as Alpha Edge) Cloud platform.

The 10 companies that made it to the top were:

  1. BookDoc
  2. Boss Boleh
  3. DoctorOnCall
  4. Fuhla
  5. Innov8tif
  6. Mhub
  7. MSA - Mobile Sharing Assistant
  8. OrangeFIN Asia
  9. Orpheus Capital
  10. SmartPeep

A five member panel of judges comprising representatives from MDEC, TM ONE, TusStar and Huawei decided on the winners after a pitching session by the finalists.

Launched virtually in Malaysia in November last year, the Huawei Spark programme is a hybrid accelerator programme to support deep tech companies in Asia Pacific , with a focus on firms that use 5G, Artificial Intelligence (AI) / Machine Learning & Analytics, Internet of Things (IoT), Edge Computing and Software as a Service (SaaS) applications, leveraging Huawei’s technological and innovation leadership.

Click here to continue reading the full press release.

Friday, April 2, 2021

Digital Fraud Tactics that may be on the Rise in 2021

Image source: Pexels.com


Because of the rapid rise in digital use, fraudsters can rapidly find new ways to steal money, taking advantage of customers' lack of experience with digital platforms and many businesses' resource constraints. The Federal Trade Commission estimated that between January 2020 and early January 2021, consumers filed over 275,000 complaints, leading to more than $210 million in losses related to COVID-19. As a result, companies must predict new fraud strategies to avoid damages and protect consumers from issues such as identity theft through new technologies such as biometric security.

Few could have expected the issues of 2020. As lockdown measures restricted conventional modes of business, the COVID-19 pandemic ushered in a time of rampant digitization to allow remote processes and ensure business continuity. This change exacerbated trends that were already in motion to a large extent. Much remains elusive when we look forward to 2021 and the post-COVID market world. Here are some prominent security, technology, and industry-related issues that are expected for the coming year. Understanding these could help people who work in financial institutions and banks better prepare for cybersecurity threats and concerns in 2021.

There are five fraud risks that companies should be aware of this year to help them prepare for fraudulent activity in 2021.


1. Biometric identity fraud

With biometric technology, many effective software and mobile applications across a variety of industries can be found. Unfortunately, such budding technological advancements are not excluded when it comes to threats from cybercrime. Fraudsters are now likely to utilize AI to break through traditional security solutions such as passwords, captcha features and even biometric authentication measures. There's even the possibility of the use of deepfake technology to bypass authentication to gain access to systems and personal information. Another example of rising fraud trends is the use of social media filters - those which can imitate or swap facial features to another person's likeness. These facial expression recreation algorithms are based on AI components, which is what makes the creation of real-time photorealistic avatars possible. Sometimes, voice capabilities are even present. The bad news is that hackers can use all of these great features to bypass most non-presential biometric authentication solutions.


2. Chaos caused by the global COVID-19 crisis 

Taking advantage of the volatile economic crisis, opportunistic hackers have engaged in even more fraudulent behaviour. Stealing stimulus checks and unemployment insurance, collecting compensation for dubious COVID-19 treatments, duping victims into contributing to fictitious charities, and other schemes are among the strategies used. In the first half of 2020, there were 1.1 billion fraud attacks, which is more than double the number of attacks in the second half of 2019. According to the Federal Trade Commission, COVID-19-related fraud has cost Americans $145 million. 


3. Expect frequent hacks of voice-capturing devices

In 2021, as more businesses and financial institutions use voice authentication, expect an increase in hacks of voice-capturing devices with microphones that record users' authentication information. If used by financial institutions, this information may be especially vulnerable to attacks because it could contain confidential information such as account numbers, social security numbers, or other personally identifiable information.


4.“Too Good to Be True” COVID solutions

Experian anticipates that fraudsters will continue to exploit nervous and vulnerable customers and businesses as vaccines are distributed and quick COVID-19 testing becomes more widely available. Everyone should be on the lookout for scammers who use the promise of at-home test kits, vaccinations, and treatments as a cover for sophisticated phishing, telemarketing fraud, and social engineering schemes.

Monday, March 22, 2021

Customer Case Study: redONE re-imagining mobile plan subscription experience with e-KYC powered customer self-service registration

Client: redONE Network Sdn Bhd
Project: redONE Online


Multi-channel e-KYC
3 months from canvas to deployment


redONE is the first postpaid Mobile Virtual Network Operator (MVNO) in Malaysia. redONE was established in 2012, and it achieved the milestone of 1 million postpaid subscribers in 2018. A large part of its success is attributed to the unique and hyper-local sales agent and advisor network. Innov8tif has been serving redONE as a technology partner since 2014, by enabling redONE’s sales agents with a paperless mobile sales platform. The entire process from customer identity verification to confirmation and activation of mobile plan subscription, is done over-the-air in real-time from the agent's mobile tablet.

When the COVID-19 pandemic outbreak hit Malaysia with a nationwide lockdown, many businesses were experiencing a big impact on business model continuity. redONE was not an exception as the value proposition of face-to-face agent-customer relationship was going through testing moments. Great products to offer, strong network of sales representatives, but the non-face-to-face customer ID verification was a missing puzzle. 

By implementing Innov8tif’s AI-based e-KYC (electronic know-your-customer) technology, it complements the offline-to-online strategy, offering a multi-channel and self-service customer registration experience. A simple gesture of QR code scanning is all it takes for a customer to be led to some guided steps, from capturing identity document image to verifying selfie photo. The entire subscription registration and activation process remains as paperless as it could be. 

“We have established a trusted relationship with Innov8tif over the years, starting from the days when Innov8tif helped us to digitise our sales channel. And now moving forward to new customer-facing channels when our business continues to grow and adapt to the evolving landscape, we know that Innov8tif always has our back,” Farid Yunus, Group CEO of redONE Network Sdn Bhd.


Why redONE chose Innov8tif:

Capability to support self-service e-KYC without mandatory mobile app installation
Compliance with regulator’s ID verification requirements
Win-win commercial model

Thursday, March 18, 2021

Innov8tif wins Best Innovation Award at Star Outstanding Business Awards (SOBA) 2020

 Innov8tif celebrates the 10th anniversary with a recognition for its AI innovation.

Kuala Lumpur, Malaysia, 18 March 2021 — Innov8tif Solutions Sdn. Bhd. (Innov8tif), the AI company offering identity assurance technologies founded in 2011, has won Platinum Award for Best Innovation at Star Outstanding Business Awards (SOBA) 2020 under the category for companies with sales turnover up to RM25 million. The awards ceremony was held at One World Hotel Malaysia on 17th March 2021.

SOBA 2020 is organised by Star Media Group Berhad, endorsed by the Ministry of International Trade and Industry, supported by Bursa Malaysia and audited by BDO Malaysia. SOBA seeks to inspire and encourage local businesses to promote Malaysia and showcase its products and services to the world.

Innov8tif’s core product – EMAS™ eKYC, is a digital ID verification technology to support e-KYC (electronic know-your-customer) process and identity fraud management for 24/7 businesses. Its sole objective is to ensure the applicant is who they claim to be to a stated level of confidence prior to transaction dealing with businesses, as well as to improve quality of customer identity-proofing data. EMAS™ eKYC is backed by several patent-pending document authentication algorithms. 


“We are grateful for great support from all our customers, employees and business partners, over a decade of our journey. Without your support, we will not be able to win this award,” said George Lee, Innov8tif’s CEO. “SOBA has always been recognised as an avenue to help SMEs measure its competitiveness against the best in Malaysia. We thank SOBA for the gracious recognition of our team’s innovation. Being a recipient of this award motivates Innov8tif even further to pursue greater accomplishments in its regional business expansion plans.”


Today, Innov8tif has acquired a proven track record with clientele from all the ten Southeast Asian countries. EMAS™ eKYC is already serving digital identity verification needs of ten telecommunication service providers, and more than twenty other customers from the banking, financial services, insurance, and digital signing industries. Accelerated by evolving customer interfacing landscape to digital touch point and low-touch channel, EMAS™ eKYC innovations have benefited from the timely market demand.

From left: Law Tien Soon the COO, Soh Peng Nam the CFO, George Lee the CEO, and Joe Seah the Chief Commercial Officer



Wednesday, March 10, 2021

Agmo Studio Selects Innov8tif’s EMAS™ eKYC for Remote Customer Onboarding

Malaysia’s top software development firm to incorporate AI-based digital identity verification solutions to improve user experience.

Kuala Lumpur, Malaysia, 10 March 2021 — Innov8tif Solutions Sdn. Bhd. (Innov8tif), the AI company offering digital identity verification technologies, announces a new partnership with Agmo Studio Sdn. Bhd., a multi-award winning software solution provider that offers Mobile + Blockchain + Web solutions to corporate and government agencies. Agmo Studio will promote implementation of EMAS™ eKYC into its mobile app solutions to create a seamless and secure digital onboarding experience. 

EMAS™ eKYC is a digital ID verification technology to support e-KYC (electronic know-your-customer) process and identity fraud management for 24/7 businesses. Its sole objective is to ensure the applicant is who they claim to be to a stated level of confidence prior to transaction dealing with businesses, as well as to improve quality of customer identity-proofing data. According to a study, 74% of the customers switch brands if they find the customer onboarding process complex.

“We are excited to partner with Innov8tif,” said Tan Aik Keong (AK), Agmo Studio CEO. “As it’s clear that many of our customers are looking for an e-KYC integration that offers a smooth and simple onboarding journey to their products, we believe our partnership with Innov8tif will be able to fulfil customers' needs.”

Tuesday, March 9, 2021

Innov8tif Solutions Receives Quality in Business Certification

Innov8tif, the AI company offering digital identity verification technologies, has obtained the second quality systems certification in 2021. 

Kuala Lumpur, Malaysia, 9 March 2021 — Innov8tif Solutions Sdn. Bhd. (‘Innov8tif’) is proud to announce that it has been awarded the Quality in Business Certification from the International Trade Council (‘ITC’). As a global peak-body Chamber of Commerce, the ITC offers independent certifications that show an organization’s adherence to global best business practices as benchmarked against the ITC’s Quality in Business Standard. 

To receive certification, Innov8tif passed a stringent and comprehensive audit covering 16 key sectors, 96 core criteria and 249 compliance indicators.

To maintain the Quality in Business Certification and to ensure the public of the continued quality of our brand, Innov8tif has agreed to the ITC certification requirements, which include audits of our facilities and products at any stage. This certification is not mandated by any regulatory agency, but was sought out voluntarily because of Innov8tif’s commitment to continued quality and the satisfaction of our customers.

“We are committed to continuous improvements and prioritisation in quality of service,” said Tiensoon Law, Innov8tif’s COO. 

“Earlier this year, our ISMS (information security management system) framework has been certified for conformance to ISO/IEC 27001:2013 standards. It was a great start, but it is only the beginning to an ongoing journey in the adoption of global best practices. Through the ITC’s assessment process, we took the opportunity to also reflect on some self-realisation of areas where we can do better in the future, such as ESG-related aspects.”

Quality in Business Certification by International Trade Council

About the International Trade Council

The International Trade Council is a 64-year-old peak body Chamber of Commerce representing government export agencies, chambers of commerce, industry associations and businesses from 176 countries. To learn more about the International Trade Council please visit www.tradecouncil.org. To learn more about the Quality in Business Certification please visit www.qibcertification.org.

Thursday, March 4, 2021

6 Ways Digital Adoption can Reduce Business Operating Costs

In the twenty-first century, effective record management means digitizing and automating procedures. However, not all organizations are on board with this. Most are still using traditional business processes, but by implementing a digital document management approach instead, there are several ways you can cut operating costs.

Although digital solutions and services are a more effective way to run a company, the day-to-day expenses facing SMEs can also be minimized. Hard work is worth the reward of running your own company and being able to make money. However, making a company profitable is not a straightforward deal. Owners must expand all the resources at their disposal, and smartly use every hour and every dollar wisely.

Digital transformation is the solution available to SMEs to help them run smoother operations, improve efficiency and workflow automation while also reducing costs. Additionally, they are inexpensive and easy to implement into your established business model.


1. Mitigating the Need for Increased Document Security

Physical records are fragile, and loss, injury, theft, fraud, and more can compromise them. This weakness requires you to introduce enhanced security measures to protect paper documents, including off-site housing records or the construction and maintenance of safe facilities that can protect documents from damage. The electronic copies of your files are protected from physical harm and destruction with digital record management, and you can otherwise safeguard them with simple and cheap techniques such as digital backups and permission settings. Organizations can also opt for cloud computing to improve availability and redundancy of documents and records. Cloud computing can be automated for organizations’s convenience. 


2. Optimize and Maximize All of Your Business Processes

Across all departments, including sales, human resources, accounting, and even customer service, there are many costs related to the business processes. Some functions can be optimized and made more effective by automation within each of these divisions, including invoice processing, payment collection and remittance, customer management, and employee management. You will reduce the time it takes to complete them, lower purchasing costs, reduce employee onboarding and retention costs, improve employee and customer satisfaction, and so much more by automating document management related to these processes.

Businesses are still looking for new cost-cutting strategies, and one tactic is to reduce the fixed costs associated with their business processes. Digital document management, which can reduce your operating costs by reducing the time it takes to maintain and coordinate records, reducing the cost of facilities, helping you to use your room more effectively, lowering the amount associated with physical document security, and helping you to develop and optimize your business processes, is one of the best solutions offered by modern technology.


3. Opportunity Costs Are Lower

Businesses typically concentrate their efforts on optimizing production during an economic boom. As a consequence, since businesses have to redirect money from product growth, digital adoption has a higher opportunity cost. But when planning for a slowdown, enterprises need to concentrate less on full production.

Effectively, this means that during a crisis, adopting digital adoption costs less. The cost of opportunity is lower because investing in emerging technologies does not take away the requisite funds from manufacturing and sales. In reality, during a recession, the technology itself could also be less costly, since the businesses selling the technology are already planning for economic problems.