Monday, December 21, 2020

Why low-code Development Matters, especially during COVID-19

Platforms for low-code creation allow organizations to build personalized business applications and services, removing inadequacies that once went unacknowledged due to a lack of resources. Low-code and no-code platforms, veiled in business-speak and terminology, are simply systems that enable non-coders to develop their own applications. In order to intuitively construct usable and attractive business systems, they typically feature drag-and-drop features. Instead of requiring a developer to work on a process, the individuals involved in the workflow can create an application that satisfies all their needs. There is an intrinsic benefit to functionality like this and using low-code can accelerate digital automation and empower an organization’s digital strategy.

In recent years, low-code and no-code instruments have been gradually recognized. In addition to undermining companies and their continuity, the COVID-19 pandemic has also threatened the core operations of firms. Many depend on low-code or no-code platforms because of their inability to employ experienced programmers, developers and software engineers to build applications, particularly start-ups and small businesses, with businesses trying to create applications to improve their processes and enhance customer experience.

What is Low-code?

Using a graphical user interface, low-code development platforms enable companies to create mobile and web applications and automate much of the manual processes to increase quality and deployment time. The low-code platform provides a way to modernize its legacy apps and develop responsive applications that meet the needs of business users for CIOs dealing with shrinking IT budgets and skills shortages.

In short, these tools make the creation of applications simple. Anyone, regardless of technical skill, can construct applications with drag-and-drop features, intuitive process flow capabilities and visual guidance. This allows some workers, also referred to as 'citizen developers' who are not generally part of the IT team to take control, streamline common development activities, improve productivity and eventually take some of the pressure of the IT and development teams that are overwhelmed.

Low-code and no-code: What are the Differences?

While somewhat similar, a major difference exists between no-code and low-code solutions. Although the distinction is fairly apparent, no-code creation is fitting for those with a minimal background in coding, , while low-code can have major business implications as the low-code platforms do have a coding aspect involved. At the enterprise level, no-code and low-code platforms have taken off with large corporations encouraging citizen developers and tech savvy power users within their organizations to create new processes for their businesses.

Tuesday, November 10, 2020

The development of e-KYC production use cases in Southeast Asia

You may have come across the term e-KYC in the news lately. By removing paper-based procedures, e-KYC (electronic know your customer) can help enhance the entire identity authentication process, which reduces costs and time spent on customer identity authentication while complying to the due diligence. 

Unbanked customers can open new accounts, make a payment, apply for loans digitally or even invest in a financial instrument with just a few clicks on their smartphones and online self-service verification. This enhances the customer experience journey for a digitally savvy consumer based. 

Verifying customers by using paper-based identification and photo ID cards has its drawbacks. Identity verification by human eyeballing is time-consuming as it requires humans to manually read through the documents and verify pictures against identification documents, just imagine how many applications that need verification in a day!

In contrast, eKYC solutions that authenticate customers by using advanced technology such as Artificial Intelligence and machine learning simplifies the identity verification process. The identity verification process only takes a minute or so, making the entire process real-time to customer outreach. 

Southeast Asia surges towards e-KYC

As financial institutions aim to grow their customer bases while preventing fraud, many companies in the Southeast Asian region have also made announcements related to biometrics programmes, deals, as well as awards for technology supporting financial services.

Countries with large populations like Indonesia and the Philippines, are huge archipelagic countries. The strategic location makes financial services conventionally only in urbanized areas. Integrating eKYC solutions makes it more cost effective to drive a financial inclusion agenda, with the simplifying business process and avoiding security risks.

Since the global pandemic COVID-19 outbreak, many businesses realize the fact that physical outreach may not be a suitable permanent solution for customer acquisition, as the pandemic has brought fear to contact-based biometrics systems, such as fingerprint scanners. 

BFSI industry moves towards digital experiences

When talking about digital customer onboarding progress in Malaysia, you may have come across this international remittance, Valyou that offers a fully digital onboarding experience. Valyou is licensed by the Central Bank of Malaysia under the Money Services Business (MSB). With the eKYC solution implemented in their apps, it enables foreign worker communities to create their account without having to go through face to face counter service.

In traditional ways, those who work in remotely located estates or plantations would have to go through about an hour or so to travel to the nearest town.  Not only will it increase customer’s acquisition and retention, but it also drives a seamless customer journey. Ultimately, a more cost-effective remittance fee made possible by advanced technology. 

Wednesday, November 4, 2020

Why is Google changing to phone notification as the default option for 2-step sign-in?

Source: freepik (senivpetro)

We live in a world with advanced security mechanisms such as biometric authentication. However, an important part of staying secure online is the use of something that’s probably been around for much longer; 2-step verification.   

Many services provide 2-step verification and (where appropriate) you can consider using it. It may be seen as troublesome due to the extra steps involved and this is one of the things that stops people from enabling 2-step verification. However, Google makes it simple with "Google Prompt".

In essence, the new "Prompt" simply sends a text alert to your mobile instead of delivering a code asking if you are trying to sign in. You confirm, and that's basically it. It signs you in instantly with the touch of a button. And, on top of that, it is available for both Android and iOS.

What this means is, after you insert your email address and password, you can secure your Google account with an extra login confirmation with a click. Alternatively,  it is possible to perform 2-Step Verification (2SV) through an SMS, Google Prompt, an authenticator app, or a security key.

Google Prompt

Google Prompt has been there for a few years and for users who allow 2-step verification, it's the primary option. Prompt is more reliable than SMS because, rather than a phone number, it is linked to your Google account.

Monday, October 5, 2020

Why Low-code Development Matters?

Developers were afraid when the low-code platform market first started to expand. They worried that their work would be replaced by low-code platforms and had concerns that they were not fit to perform mission-critical tasks. However, in reality, most low-code platforms are very reliable with regard to helping developers respond quickly and in helping them be more agile.

Here are a few reasons why low-code development has become even more relevant and may even reach far beyond mobile.

Picture source: Pexels

Offering simplicity and convenience

Leading transformational initiatives is important given today's business environment climate. Nevertheless, IT teams are spread thin. They handle dynamic IT environments while serving business lines, developers, security and, more and more, remote employees.

That's where creation with low-code will benefit. Using a drag-and-drop interface to organise data and logic elements, a low-code framework helps corporate users to be citizen developers and easily build custom applications, according to one's requirement and departmental system . It lets them get the knowledge they need quickly to solve business challenges and innovate to better satisfy consumer needs. At the same time, development teams can concentrate on more nuanced strategies for change that involve their specific skill sets.

Speed to market

In the past, it was difficult just to find a software engineer. For start-up founders and business teams alike, IT-related skills shortages have remained an issue because they simply lack a supply of healthy, available engineering talent. Low-code/no-code solutions circumvent this issue by letting anyone create his or her own MVP, regardless of technical competence.

Thursday, September 24, 2020

Why Were You Asked to Capture a Selfie Photo When Doing Online ID Verification?

With the current COVID-19 global pandemic crisis and the progress of digital adoption initiatives around the globe, businesses are feeling the brunt of the force. This is in line with a barrage of new practices moving forward. In line with the rise of facets of the new norm, low-touch and physical distancing practices, online ID verification technology is being used more frequently. 

In fact, capabilities for digital verification (including those related to the recognition of faces) are being relied on as companies, retailers, service providers, and brands seek to bring convenience, safety and speed to their online processes and transactions. 

With that being said, there may be some people who still wonder about the significance of capturing their selfies and identity cards when signing up to a digital platform. Is it safe to share selfies online?

Photo source: pexels

There are two main methods of facial ID capturing

For the most part, facial verification standards often require users to submit a selfie of themselves as part and parcel of the ID verification process. There are two frequently used methods for this. The first method is to upload a photo of a selfie, and the second method is to upload a photo of yourself holding your identity document. 

For manual verification process through eyeballing, the second method is the recommended implementation option because it is much more unlikely that hackers can find a victim's portrait photo in this pose readily available from social media profiles or other internet sources. On the other hand, the first method (capturing a selfie from a live camera) is a good option too when the facial verification process is automated with technology. Often, the facial sighting automation would require liveness detection capability to be built as part of the automation, either through the approach of:

i. active liveness detection (require subject to explicitly follow through some prompts such as face feature movements), or
ii. passive (without requiring any explicit movement).

Monday, September 21, 2020

Banks Should Turn to Using AI in eKYC in the Digital Arms Race

This article first appeared in Fintech News Malaysia, authored by Vincent Fong. 

There’s an old joke on how on the internet nobody knows that you’re a dog, which speaks to how the internet has become synonymous with anonymity. While anonymity is fine in many instances, in an increasingly digital world it has become crucial that you are who you say you are.

Nowhere is this more critical than in the financial services space, where banks are required to ensure that your funds are lawfully gained and are not channeled to some nefarious activity. For the longest time banks in Malaysia required you to show up in the branch physically to conduct a face to face KYC.

All that has changed, when in June 2020, Bank Negara Malaysia released its much-anticipated guidelines for eKYC in Malaysia. The policy document was created in recognition of the importance of digital identity as an enabler for user convenience and cost efficiency for financial institutions.  As such, the framework included guidelines for the use of AI and machine learning in identification and verification. AI is viewed by the regulator as a tool for “reducing human intervention”. 

Click here to continue reading the full article

Thursday, September 17, 2020

What Took Place When You Were Submitting an Online Form, Even When You Couldn't See It?

Ever wonder what happens when you submit an online application or fill out a form over the internet and hit the send button? These days, almost every inquiry, registration and submission can be processed digitally. eCommerce sites, service platforms and mobile apps incorporate online submissions in one way or another whether as a part of digital customer onboarding, customer support or troubleshooting. From a developer's standpoint, there are various methods, tactics and approaches when building form submission funnels, but there are certain key elements to consider.

Source: Pexels

Essentially, the purpose of online forms is to collect specific data about a website visitor such as for processing as part of a service subscription or for a college application among other things. 

In most cases, you'll probably find a relatively simple contact form containing fields for the kinds of details to be filled in (such as name, email address and phone number). Once you click submit, the next thing that happens is invisible to you as the applicant. Although you may not see it, there is an infrastructure in place to ensure that your data gets to where it's supposed to.

Data is Stored in a Submissions Storage

These days, many websites use an external service or system that helps to store all the data that's extracted from submitted forms. Form submissions might often contain the private information of website visitors or rather, potential clients, so the utmost priority for these service providers is ensuring that data is safely transferred and stored for later use by the respective site. Private data should not end up being published on the front end of sites for others to see and, for the most part, all authentic sources abide by this rule. Most sites will state this in some shape or form in their terms and conditions - so it would be a good idea to read through their sections. Numerous established form submission services help sites to securely store data. Security is likely to be a prominent value proposition for all of them.

Data collection systems are extremely crucial for many businesses online and are central to the customer onboarding process in most cases. Data collection systems help teams collect a standard set of information and allow companies to keep control and consistency as they collect data from their sites. These systems also help to organize the constant stream of data that pours in. This is why so many sites incorporate data collection systems, which are directly connected to the forms that visitors fill. Security and privacy are big parts of these systems, and many of the available third party data collection providers out there strive to accommodate businesses and consumers alike.

Monday, August 10, 2020

What is Digital Signing and How Does it Benefit Businesses?

The rise of the digital signature has revolutionized finance, and real estate sectors, as well as commercial and industrial enterprises. This is likely to be happening even more now that contactless transactions, social distancing and digital adoption are all traits of the new norm amid COVID-19. 

Digital signatures are ways to verify your identity on an electronic file (like a sales contract). They work with encryption technology, so you're the only person that can use any electronic file to access your unique encryption. Using tech for digital signatures can be part of system modernization and a larger, overall digital strategy. Some have adopted the technology while others remain skeptical. Either way, digital signatures have measurable benefits, like most technological advances, as well as associated costs and risks.

Electronic signatures (e-signatures) and digital signatures are not the same

e-signatures are notoriously susceptible to fraud because they are essentially just electronic symbols, processes or sounds attached to documents to represent a form of assent or agreement. A digital image of a handwritten signature can easily be captured on a smartphone or tablet before being pasted back into a document. Without any encrypted authentication process to reinforce security, e-signatures aren't able to determine the identity of a human operator who last used the signature.

On the other hand, digital signatures are reinforced with higher levels of security and advanced technology to assure optimal safety for documents. They are often built on Public Key Infrastructure (PKI), which is used to generate unique "digital fingerprints" through mathematical algorithms. These digital fingerprints are then safely embedded in the documents, and signers will have to perform 2-Factor Authentication measures to confirm legitimate identities.

What's more, the digital IDs of each legitimate signer can only be issued by an accredited CA (authorised bodies empowered by the government to issue digital IDs for evaluated individuals). In essence, each signer is legally permitted to use these generated signatures. 

Prioritizing authenticity

Digital signing is generally made up of a simple process. Users simply upload their documents and take simple steps to set up the necessary signatures. An automated process prompts the signatories via a mobile app or email, which leads to the creation of a highly secure and convenient digital signature on the respective document.

Monday, July 27, 2020

e-KYC Concept Enhances Secured Financial Services for Customers

This article first appeared in The Malaysian Reserve, authored by Nur Hanani Azman.

Photo by Nafis Abman from Pexels

Electronic Know-Your-Customer (e-KYC) concept is the new buzzword for banks, financial services and insurance industry that looks into giving more secured financial services for customers.

Thanks to the e-KYC policy and guidelines by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC), more players are actively taking part in this sector in Malaysia.

“There are many areas that will involve e-KYC or online identification (ID) verification in banking, financial services and insurance (BFSI), from account opening to financing facility application, investment account activation and e-banking/mobile banking activation,” said Innov8tif Solutions Sdn Bhd COO Law Tien Soon.

Founded in 2011, Innov8tif is an artificial intelligence (AI) company helping businesses to widen sales funnel, speed-up processes without paper and prevent frauds.

Law said with the rising cases of SMS one-time password (OTP) frauds, it is evident that SMS OTP isn’t necessarily the best second-factor authentication method.

Facial biometrics which is a part of e-KYC registration is the most secure method to protect customer’s identity and assets.

Law highlighted that from their experience of serving eight telecommunication companies (telcos) in Malaysia, telco is the first industry to have benefitted from digital ID verification — 24/7 realtime customer onboarding made possible.

Thursday, July 23, 2020

What are the Differences between Digital Banking and Virtual Banking?

Digital disruption has impacted the world’s financial landscape, as well as other facets of society. Digital automation may become even more common in the years to come. 

In the midst of a ferocious pandemic, economic and health-related pressures have stirred innovation towards the reinforcement of banking processes for both individuals and businesses. 

Fintech can be found at the center of this trend, and major financial institutions are beginning to make way for smaller, more uniquely positioned, and more agile fintech solution providers. 

Partnerships, pivots and added offerings have unraveled concepts that push convenience, speed and digital integration to the forefront. Among these concepts are digital banking and virtual banking. They may seem similar, however, these two concepts have major differences. 

Virtual banks are fully online

The key difference to remember between digital and virtual banks is that virtual banks are made up of financial services and processes that exist solely online. By its definition, virtual banks don't rely on branch offices or any other forms of physical presence to resume operations. For the most part, interested applicants need to download a mobile banking app if they want to open a bank account under a virtual banking service. You'll need to submit your details and complete various security checks through an online platform before being assigned a fully virtual account. These online platforms are usually verified and offer protective measures to keep customer safety a top priority.

It isn't difficult to see that virtual banking stemmed from a booming demand of convenience and rapid speed, amid rising digital infrastructures as consumers grow more dependent on online transactions and ecommerce. The concept itself is relatively new - compared to some other financial innovations - eradicating the need for many burdens carried by traditional banks. There are no physical outlets, so expenses like rent, maintenance and workforce for individual branches are non-existent. Every process, inquiry, transaction and application is conducted via an online system, which translates to freedom and efficiency.

Digital banking may comprise physical aspects

Also known commonly as internet banking or online banking, digital banking is more of a blanket term that describes the added digital components to conventional banking processes. In this regard, digital banking has been around for quite some time now, with earlier forms involving logging into bank websites to check active accounts or complete transactions. The term itself can be seen as a predecessor which led to the eventual rise of virtual banking in its current form. For the most part, digital banking might require users to first head over to conventional bank branches and register physically. 

Some paperwork may be involved, and customers might have to complete their registration over the counter before they can access their online accounts. Of course, things have changed quite dramatically these days, and many traditional banks offer the option of creating online accounts from the comfort of your home. However, it's still necessary to create an active account with that bank - and that still requires you to head over to physical branches.

In mid-Jul 2020, CIMB Malaysia introduced an online-to-branch account opening process for individual banking customers, who can now submit their application to open a current or savings account online. Subsequently, they proceed to a dedicated e-account opening priority queue available in all the bank's branches to complete the application via Know-Your-Customer due diligence. 

Nowadays, digital banking is used more as a term to describe any banking activities which are conducted and completed through digital devices. Consumers are constantly using their phones to access saving apps or pay for products by scanning codes, while companies are used to paying salaries and expenses through banking apps online. By definition, these are all examples of digital banking.

Tuesday, July 14, 2020

How Might COVID-19 Affect Industry 4.0 Moving Forward?

Just a few months ago, the future seemed bright for many industries across the board. Plenty of technological innovation impacted a surge in solutions that revolved around helping businesses from a variety of sectors. Founders, CEOs and other individuals were all positioned to reach the next level. 

Then suddenly, a potent pandemic crippled entire economies and disabled strategies, bringing about a halt to many future plans. How has COVID-19 affected Industry 4.0? Have advancements in areas like Artificial Intelligence and Big Data been squandered? Has the crisis sent Industry 4.0 back to the drawing board?

Quite the contrary

When it comes to delving into the mechanics for the future of manufacturing, production and operational logistics, Industry 4.0 is very much a central focus right now. Artificial intelligence, advanced automation, the Internet of Things and data analytics are all components that could play very integral roles as they begin to reinvent and restructure how businesses and industries offer their products and services. These technologies could also impact a business’ overall digital strategy.

The pandemic has brought social distancing procedures, contactless forms of transactions and payments, an urgent emphasis on building digital infrastructures and an urgent emphasis on operational efficiency to light. These key factors all require the implementation of advanced technology in order to accelerate enterprise-wide growth in a calculated and careful fashion.
Businesses are more cautious than before moving forward, and Industry 4.0 could help meet their demands.

Necessity over doubt

As Industry 4.0 technologies became more mainstream, many manufacturers and enterprises around the world were wary of adopting the concept of Industry 4.0 due to the alleged costs and complexity related to the entire process.

Sunday, July 12, 2020

MCO sees higher e-KYC adoption

This article first appeared in The Edge Markets Malaysia, authored by Vanessa Gomes.

woman using smartphone
Photo by bongkarn thanyakij from Pexels

During the recent nationwide lockdown, the majority of business activities involving physical in-person presence were on hiatus. To keep people at home during the Movement Control Order (MCO), the government announced incentives related to free mobile data, but telecommunication dealers and agents were closed.

Fortunately for telcos who already had the electronic know-your-customer (e-KYC) channel in place, they were able to serve the market digitally. Innov8tif Solutions Sdn Bhd chief operating officer Law Tien Soon tells Enterprise that among the five telco brands they provide e-KYC for, he witnessed an average of 279% growth in monthly prepaid SIM card activation from the e-KYC channel, in April (when compared to SIM card activation pre-MCO in February).

“April was a whole month of lockdown and in February, the shops were still open. When we compared the two months, we found there was an average of 2.5 times of growth in electronic registration. This shows that the e-KYC infrastructure was very good ensuring continued business sales,” he says.

Monday, July 6, 2020

5 Things You Should Know About Biometric Technology

Whether you know it or not, biometric technology is a part of daily life in many parts of the world. If you use facial recognition verification on your phone or to gain access to a secured space, or place your finger on a mobile device to unlock the interface, you are experiencing biometric tech at work. In essence, it utilizes the uniqueness of your body's features as a means of authentication. 

Biometric security through technology is a great and innovative idea that's impacting many of our security systems and safety measures, especially now that social distancing and the new norm are all very real concepts in our lives. 
Here are a few things you should know about biometric tech that could come in handy if you intend to use it in your business or implement it in any shape or form.

It provides enhanced security

You may be familiar with basic forms of digital security like passwords and verification messages sent directly to your phone or email. However, these measures are sometimes not enough to protect your assets from malicious activities, especially since cyber-criminals are growing more advanced and intelligent by the day.
This is why biometric technology is considered a form of enhanced security, when combined with other authentication methods to form a very strong user authentication process. It relies on physiological identifiers or human traits to access control systems or unrestricted spaces (digital or physical). The fingerprint lock is a common biometric tech feature and is used for items ranging from phones to physical safe locks. They are more convenient and more secure than traditional deadbolts. On top of this, fingerprint locks can usually detect whether a door has closed and can automatically be locked after a few seconds, which means that you won't have to worry about leaving something unlocked by accident.
Most of the e-KYC (electronic know-your-customer) frameworks witnessed in the online ID verification process are also relying on facial verification to prevent unauthorized representation of identity or identity fraud.

Tuesday, June 16, 2020

The Rise of Biometric Identification In The Education Sector

Primarily, with regards to Biometric Identification, fingerprint scanning is one of the most widely used methods of verification adopted worldwide. The current COVID-19 pandemic crisis has brought about increased caution and instigated a ‘contactless culture’ related to the importance of social distancing. Biometric identification can still be a useful security measure and can be enhanced with contactless biometric technology.

Contactless biometric technology, with its abilities and applications, has now become a valuable tool for instructors who want to enforce academic integrity in light of the continued migration of learning into the online space. However, it also offers significant safety benefits beyond that.

Advocating the "contactless" new norm

In today's high-risk environment, public health is a major issue. Offices, schools and public institutions are either temporarily closed, or slowly reopening with tight regulations and operational SOPs.

This is where biometric verification can come in handy. Fingerprint scanning can be exclusively enabled for identification on personal devices - such as through the use of a personal smartphone for fingerprint verification, or facial verification through a phone camera. In this way, biometrics can still be used as a relevant security measure for schools. In fact, biometrics might lead to fewer points of contact in public spaces and better safety control.

Building a more engaging educational experience

In addition to grade books and report cards, school districts now have access to a set of tools that might provide them with unprecedented insight into how students engage with class material. This is possible via biometric data.

Tuesday, June 2, 2020

Why the COVID-19 Crisis is a Catalyst for Digital Transformation

The COVID-19 outbreak has made a seismic impact on people's memories. Businesses around the world have had to take work-from-home or social-distancing measures — or even temporarily cease operations. Digital transformation is essential with regards to operational resilience for enterprises as the COVID-19 crisis continues to affect the world economy.

The pandemic continues to cause political and economic turmoil and is affecting business operations. Some businesses have indeed been able to play to their strengths. Others are now taking digitization seriously.

Growing demand for secure cloud solutions

Just as businesses were beginning to recognize adoption of ‘the cloud’ as a vital catalyst for business transformation, the COVID-19 pandemic outbreak has made it a key enabler to ensure business continuity. During these challenging times, the cloud's power to transform backup data into an asset, making it more open and accessible, can help organizations gain critical insights into uncovering opportunities and expediting decision making.

Even so, with more workers connecting remotely to work from home, cloud adoption without data protection could be ineffective. Cloud data protection systems are a must as they can ease data complexity, provide a central point of access, increase data visibility, reduce legal and regulatory risks and save costs.

Businesses must set up a foundation for data protection

Businesses are helping employees to work from home to try and safeguard business continuity and security. Simplifying data backup and recovery is one of the measures that can be taken in order to make the data management and accessibility process easier and faster (especially when the entire company connects remotely). While conventional backup systems are both cost-intensive and time-consuming, the backup process can be accelerated through a cloud data protection system.

Saturday, May 23, 2020

Giving Back to Our Local Community

As COVID-19 sweeps across the world, all lives are being upended. This global pandemic crisis is unlike anything we have seen before.

One of the core components in Innov8tif that we value the most is putting a human face on business entities by communicating empathy, understanding and support, both moral and financial, for those who need it the most. We understand that when it comes to giving back to the community, any action, big or small can make a real difference.

“With that in mind, we want to do our part to give back to our local communities by contributing through Sumbangan Kasih program, a program under Majlis Perbandaran Subang Jaya (MPSJ) that focuses on the welfare needs of B40 groups in Subang Jaya. We all hope for the fastest, safest resolution possible to the health crisis and for breadwinners to resume the productive role as soon as one can reasonably be expected,” George Lee, Innov8tif’s CEO.

Sunday, May 10, 2020

Digital Health Declaration to Promote Safer Workplace

The Prime Minister of Malaysia has just announced that CMCO (conditional movement control order) is extended to June 9. And it is generally believed that, the Covid-19 pandemic will not end anytime soon, not even in the next 12 months. While Malaysians are now experiencing some relaxations in movement control, provisions in CMCO does not mean return to normal life.

Contact tracing is one of the crucial SOPs to be adopted by businesses. This means that, Malaysia's residents will be asked to register personal contact information when visiting any premise. The Selangor State government has rolled out SElangkah Initiative, which aims at facilitating the registration of individuals entering any premises in the state to protect the business operators and customers during the implementation of the CMCO.

A number of business premises I have visited in the past few days were still relying on paper logbook for visitor registration. Which led me to the following concerns:
  1. Sharing of writing instrument when physical contact is supposed to be minimised. 
  2. Some of the logbooks were even asking for IC (identification card) number, which in my opinion, is a potential infringement of personal data protection practices.
  3. Illegible handwriting, which defeats the purpose of contact tracing. And I am guilty for this. 
In March, during the second week of Covid-19 lockdown, Innov8tif rolled out a digital version of health declaration form for business offices, production plants and logistics warehouses to adopt best practice in contact tracing. 

Friday, May 8, 2020

Looking to Implement A Digital Transition Strategy for Your Business? Here are 5 Tips!

You’ve probably realized that you need a strategy for ‘going digital’ efficiently. However, as prominent as the topic is, it's still a common challenge. Adaptability to new technology and staff competency towards the technology are a few of common challenges that business owners need to overcome as they realize how important digital and mobile platforms are, which are important for customer’s acquisition and retention.

Unfortunately, a large number of businesses lack an integrated strategy for expanding and effectively engaging with their audiences. System modernization is only one part of it.

If your company has no strategy in this arena, expect to lose out to more competent rivals. Transitioning to a new digital infrastructure doesn't have to be rocket science. Here are several tips to help you and your team get started.

1. Set Specific Objectives

A lot of people might view digital transformation as this fairly vague concept that doesn’t really mean anything other than having an internet connection and a couple of work apps. In reality, the transition to digital is quite comprehensive, as it can become rather overwhelming if you don’t have any clear objectives in place.

Discuss your company’s current goals and milestones with your team and work out how the digital landscape can bring you closer to these goals.

Take a look at your current customer journeys. Is there any room for improvement? What about customer acquisition? Are there any gaps that can be filled through the use of technology? Do you need an efficient customer onboarding solution? Is it time for your business to reinforce mobile biometric capabilities? Asking yourself these and other similar questions can help to bring your objectives into focus and make your path to digital clearer.

2. Identify Opportunities

Digital transformation brings opportunities to the table that may otherwise never have been possible. As leaders and business owners, our job is to have the vision and diligence to identify those opportunities and decide which ones should be acted upon. The COVID-19 pandemic has brought the concept of “social distancing” to the forefront. With the help of technology, your business could offer innovative solutions via a contactless digital process that prioritizes safety and convenience.

Monday, April 27, 2020

4 Digital Trends that are Propagating Contactless Behaviour for The Low-Touch Economy

Over the last few years, major changes have occurred in the payments space. As we move into a new decade, change is likely to continue. Payment patterns for 2020 appear to push the market in a far more consumer-centred direction, focusing on how payments can be made as simple and convenient as possible. With recent events, fear stirred by the pandemic and a looming recession has magnified this push towards a more consumer-centred approach.

Digital trends are underway. These prompt contactless behaviour in the name of economic survival and continued digital transformation.

Biometric Authentication

Consumers have been using their fingerprints to unlock their smartphones for many years. These same fingerprints also allow for mobile banking transactions and mobile payments. Corporations, consumers and service providers all rely on fingerprints or other kinds of biometric identification tech to make payments much more effective, accurate and safe. Security via reinforced authentication also drives seamless online experiences. 

Biometric authentication solves a very relevant problem that gets in the way of contactless payments. As one could imagine, the pandemic has brought fear to contact-based biometrics, such as fingerprint scanner. India's local authorities were also seen instructing businesses to stop the use of fingerprint-based biometric system to curb COVID-19. This trend has given a rise to requirements for contactless biometrics, such as facial and iris recognition.

Reliability, authenticity and trust are all concepts that are not as strong online as they are in ‘real life’. Biometrics revolve around stronger components that relate to self-identification. These can fortify systems, software and platforms, particularly those that involve financial details and other sensitive information prone to being affected by cybercrime.

Friday, April 24, 2020

Customer Success Story: Joget (Low-Code Platform) Helps to Drive Digital Transformation in Public Sector

Key findings:

• The Ministry of Energy and Natural Resources Malaysia (formerly known as Ministry of Water, Land and Natural Resources) embraces low-code agile development with the aim to rapidly digitalize ministry-wide operations.

• The Information Management Department is staffed with a small software development team that wears multiple hats – business analyst, software engineer and quality assurance engineer.

• Building an application using traditional coding isn’t a competency challenge but making sure that an application adapts to on-going requirement changes is a challenge of sustainability addressed by a low code platform. 

Kementerian Tenaga dan Sumber Asli (Ministry of Energy and Natural Resources Malaysia), abbreviated as KeTSA (formerly known as KATS), is a Malaysian Ministry comprises multiple agencies and several statutory bodies tasked with responsibilities for energy, land management, forestry, geospatial, biodiversity conservation and management, as well as the management of minerals and geoscience.

For a Government Ministry with vast accountability to the public, it is crucial to driving transparency, effectiveness and efficiency of their daily operations. Afterall, these are the key factors that drive towards success in civil services. Often, the needs for digitization and automation across various stakeholders and working groups go without saying. Joget as a low-code developer platform enables an agile team of application builders to focus on getting the requirements right, then ploughing energy on traditional coding, and roll-out software applications that embrace continuous improvements.

Photo taken on 07/Feb/2020 

Acquiring New Perspective in Developing Secure Enterprise Applications for Government Agency 

As technology keeps on evolving in a blink of an eye, digitization and automation is needed to solve daily operations; this requires a tactical move from KeTSA to upgrade their system while improving their standardized management system. With a tight deadline, an agile team of six application developers from KeTSA’s Bahagian Pengurusan Maklumat (Information Management Department) successfully developed a number of comprehensive and well-outlined systems with functionality that fulfill and satisfy stakeholders needs and requirements. The timeline is inclusive of detailed requirements from different stakeholders, solution design, low-code development, quality assurance and continuous deployment.

From zero to hero, a team who is completely a stranger to Joget low-code application has witnessed the future of application software development – low-code/no-code. Some of the use cases implemented are project monitoring, record management, change request management and communication logging, which involves common application system components such as multi- channel e-forms, review and approval workflow, user directory integration, record search and traversal, reporting and executive dashboard. Interestingly, one of the applications is aimed at Biosafety use cases – to monitor activities pertaining to the living modified organism (LMO) and products of such organisms in Malaysia.

Monday, April 6, 2020

Could Biometrics Solve Your Business's Contactless Payment Challenges?

Amidst the uncertainty being experienced with regards to public health and economic stability, it may be worth looking back on certain technological developments to try to find a way out.

As nations around the world implement various lockdown measures to try and contain the spread of coronavirus, social distancing has become a trending topic of discussion.

Now, the possibilities granted to us by technology might seem more relevant and more urgent than they did before.

In a world where handing people wads of cash may have become outdated, could biometrics - an advanced form of authentication - be the key to pushing contactless payments even further? 

It's a step up for digital security

First and foremost, biometric authentication can act as a remarkable innovation that fortifies digital security. Identity solutions are quickly becoming a common part of online safety, especially as consumers become aware of the weaknesses in conventional and outdated authentication methods.

A simple password might not be enough anymore, and biometric verification seems more like the future when dealing with many aspects of the digital sphere. This includes contactless payments, as part and parcel of a more convenient, instantaneous mode of transaction processing.

Biometric demand is coming from diverse markets

Although determined by different factors and a multitude of market maturity levels, biometric card adoption is spreading gradually. A diverse payments landscape means that the trend is being driven by different priorities. Mature regions, for example, might prioritize card fraud (which is an aspect that biometrics can help tackle).

Thursday, April 2, 2020

6 Key Points for Building a Great Digital Customer Experience

Research shows that the quality of digital customer experience management can affect business results. Customer engagement has historically focused on gathering multiple connections and experiences over the customer journey, rather than just one encounter.

Now that much of the customer journey is digitized, a range of digital experiences requires differentiated management, particularly as customers demand more immediate and personalized online experiences.

From a digital standpoint, customer journey and customer experience management are essential concerns for businesses. A strong technology framework is needed for data collection, management and analysis. This is to help deliver great digital customer experiences across various channels and stages of the customer lifecycle and play a part in your entire business’ digital transformation.

Explore the capabilities of AI

Nearly 66% of customers switch brands due to poor customer service, according to Conversocial. Internet of Things (IoT)-era and the emergence of all things “smart”, has brought hyper-speed, real-time experiences and instant responsiveness to tech infrastructures.

With regards to digitization, brands are already starting to warm up to the idea of AI and chatbots to help bridge the speed gap. Social messaging is a prominent part of the customer experience these days, and AI can be integrated into the process. A combination of AI, chatbot technology and social messaging can help brands automate and personalize the customer experience to a decent extent.

Consider experimenting with emerging technologies that incorporate AI (such as digital signage, smart speakers and wearables). Many modern consumers prioritize convenience, and these newer tools provide just that. For example, Innov8tif’s eKYC solution helps businesses to speed up the process of user onboarding through combination of computer vision, deep learning and image processing technologies - aimed at simplifying onboarding journeys and automating the 24/7 onboarding process.

Monday, March 16, 2020

The Rise of RegTech and Its Impact on The Future of Financial Services

When it comes to reporting, compliance and regulation, the global financial crisis of 2008 was a game-changer. Over the last decade, you may have become aware of an evolution in Financial Technology (FinTech) that has resulted in tech for financial regulation or Regulatory Technology (RegTech).

In a December 6, 2018, MarketsandMarkets report, it was estimated that the RegTech market today could expand to $12.3 billion by 2023. By innovating common regulatory problems, RegTech makes use of developments like Blockchain technology, Artificial Intelligence (AI), Machine Learning and Big Data.

However, as evolution continues in the solutions found within RegTech, the regulatory landscape may have to surmount many obstacles in order to keep pace with the ensuing disruption.

What might the future hold and how could RegTech impact your overall digital strategy?

Regulations are skyrocketing

A massive deployment of new regulation has emerged as a result of the global financial crisis, with over 50,000 new regulations since the catastrophe. To put things into perspective, that's one new regulatory alert every seven minutes!

This development has taken a toll on the financial service industry, with banks alone spending hundreds of billions of dollars annually.

Monday, March 9, 2020

The Evolution of the Digital Wallet - A Reflection on its Past and What Might Lie Ahead

It has been described as the future of payments. The digital wallet (commonly known as the e-wallet) essentially lets users store all their cards, bank accounts and financial necessities in a virtual system. 

How did e-wallet make its way into our lives?

How does it remain such a prominent part of the digitization and digital transformation happening in this era and what’s in store for its future?

What is a digital wallet?

In a nutshell, the digital wallet works a lot like your physical wallet, only it’s an electronic version of the same concept. It lets people store their money and make payments all from the comfort of their homes (or wherever they are for that matter). It’s a virtual mobile bank at your fingertips. Digital wallets these days are also reinforced with security measures, so your financial information can be kept safe during transactions.

This remarkable innovation provides us with accessibility and convenience, offering loads of features all from our smartphones. There are various types of e-wallets available, each with their own unique sets of features.

Mysterious beginnings

For all the attention given to the digital wallet, its origins are pretty murky. The very first instance of an e-wallet can't exactly be pinned down. What’s known is that the idea had been in circulation since the late ‘90s, with discussions about a concept made up of virtual payment systems and capabilities for storing cash. However, very few people were using it at the time.

In fact, several companies and individuals tried to come up with early versions of the e-wallet but nothing much came out of it. Even eBay launched a series of early e-payment programs but these failed to take off due to poor publicity. Ultimately, the timing just wasn't right.

E-wallets took time to conceptualize

The first series of e-wallets that was developed was basically considered a failure and is now known as the first generation. The second-generation garnered a little more traction, with even MasterCard and Visa coming on board. However, there just wasn't enough focus on simplification and integration of solutions was practically nonexistent.

Wednesday, February 26, 2020

Benefits of Automated Workflow for Your Business

Ushering in a new era of growth, the world is currently amidst technological transformation that will fundamentally change the way we work and live. In order to stay relevant in today’s current market, companies will have to adopt new technologies, such as automated workflow to unearth new opportunities for their businesses. Automated workflow is a technology that automates the routing for a series of sequential steps involved in a business process.  Often, a business process involves human-to-human activities such as request review and approval, as well as system automation such as sending out notification messages and posting approved transactions to an integrated system.

Here are 5 benefits of automated workflow for your business.

1. Reducing turnaround time

One of the key challenges that business often encounter is the duration of delivery time. With automated workflow, it can reduce turnaround time. Approval cycle can be sped up with electronic and automated routing of e-forms and workflow task assignment in business processes. For example, approval form can be easily accessible from email and mobile application, making it more convenient for Managers and Senior Management to perform on-the-go decision making. Those in managerial level can focus more quality time on key managerial activities that help spur company's growth, instead of spending time on mundane data collection, reporting, and following-up on disjointed processes — which are better done by automation.

Turnaround time is also reduced from elimination of issues introduced by wrong routing of approval, which is often witnessed from a manual form routing process (whether through emails or physical documents). Not only that, automated workflow also improves efficiency. More automation in a workflow equals shorter delivery times, optimizing business operations while boosting productivity. 

2. Simplify business processes

The opportunity for business process re-engineering is made possible by improving business process flows. When opportunity to simplify business processes came knocking on the door, business processes that have been carried -out for years are possible to be fully optimized by automated workflow. For example, elimination of the “checker” role from a process as electronic form will have the capability to automatically enforce form input validation prior to a request being completely submitted.

Monday, February 10, 2020

5 Simple Ways to Protect Yourself from Identity Theft

In today’s interconnected tech-driven industries, computer security has become a huge priority. It may have once been considered merely an afterthought for businesses and users but has quickly grown in prominence. 

Malicious attacks can cause massive devastation, compromising important parts of how systems have been built to run. According to a report issued by Javelin Strategy and Research, 14.4 million people fell victim to identity fraud in 2018 alone! 

If you haven’t experienced it for yourself, you might know someone who’s fallen victim to it. Even Jack Dorsey, co-founder and CEO of Twitter, was not exempted from such a risk, with hackers using a SIM-swap technique to infiltrate his phone. Cybercriminals have targeted personal bank accounts, as well as company databases. It’s time that you try and stop yourself from becoming a victim of identity theft. Here are a few simple steps you can take in order to stay protected.

1. Practice Basic Online Safety

If you’re accessing a public computer, don’t shop online or fill in details containing sensitive information. This goes for devices with unsecured Wi-Fi too. Hackers may be lurking just beneath the surface, between the user and the unstable internet connection. Passwords, credit card information and sensitive identifiers can be stolen from a user as the data gets sent out.

2. Update Your Security Software

If you are using your home or office machine, consistently update your security software. Firewalls and antivirus systems make up the first line of defence when it comes to digital crime. If you are surfing online or if you’re an avid online shopper, only visit reputable retail sites. Phishers and identity thieves often set up fake sites that prompt you to key in your personal details. Sometimes, these sites can even resemble real and reputable sites. Check that the “https” line is included before the URL (just in case). Also, be careful when downloading apps and files. Check that they’re from reputable sources because hackers might rig them with malware that infects your device and let them gain access to it.

Thursday, January 30, 2020

7 Digital Transformation Trends that could Catch Fire in 2020

In an increasingly technology-driven world, digital transformation is likely to become even more commonplace. Repetitive terms like edge computing, cloud, augmented reality and IoT are probably here to stay, but these developments could merge with even more prominent aspects of the business landscape. 

Several core technological services appear set to dominate future discussions, making an impact on the fundamentals as we continue this journey of digital transformation. The modernization of legacy systems and even more digitization across the board appear set to take centre stage this year.

Here are a few digital transformation trends that could take off substantially in 2020.

1. The Arrival of 5G

5G has been a long time coming, and many consider this is the year of 5G. Telecommunications giants such as Verizon, Nokia, Ericsson, Huawei, AT&T and Qualcomm are working diligently to try and make sure global 5G deployments stay on track. Meanwhile, handset manufacturers are already releasing 5G phones. Malaysia has also witnessed the launch of the 5G Demonstration Project (5GDP) in Langkawi on 19th Jan 2020.

Aside from faster broadband (5G could be up to 100X faster than 4G at its theoretical top-speed) and stronger mobile networks, the proliferation of 5G also includes accelerated advancements in smart systems. Vehicles, manufacturing industries, cities and industrial operations could become highly IoT-intensive and connected. 5G is paving the way for true digital transformation (the likes of which we are likely to have never witnessed before).

Despite concerns around the possible environmental consequences of deploying 5G, industry leaders and corporations seem persistent about making 5G more widely available. In August 2019, data showed that only four months after local carriers commercially launched the technology, the number of 5G subscribers in South Korea hit the 2 million mark.

2. Artificial Intelligence (AI) and the rise of Robotic Process Automation (RPA)

If you haven’t noticed, the adoption of AI has gained considerable traction recently and the mainstream media has homed in on its potentially transformative capabilities. AI is already around us, in many products that we use. Innov8tif is using image processing and deep learning techniques to automate cognitive intelligence in identity verification. Business decision making can also be assisted with smart data-driven suggestions or predictive analytics, as part of an automated workflow, realizing the future of “AI as co-worker”.

Presently, RPA is one of the major innovations that can be found out there. RPA uses bots to execute small, repetitive tasks and transactions with more precision and significantly fewer errors compared to their human counterparts.

Tremendous improvements to efficiency and workflow have been made as a by-product of using RPA.

It is estimated up to 40% of enterprises are keen on adopting some form of RPA in response to increasing automation to try to keep ahead of the competition.

The RPA market could reach nearly $4 billion by 2025.

Thursday, January 16, 2020

Innov8tif Inks MoU with Securemetric to Integrate Innov8tif’s EMAS eKYC and Workflow Solution with Securemetric’s Centagate Cloud and Signing Cloud

Kuala Lumpur, Malaysia 16 January 2020 - Innov8tif Solutions Sdn Bhd (“Innov8tif”) has entered a strategic partnership with Securemetric Berhad (“Securemetric”) to develop technological solutions by utilizing a cross-technology innovation between the two parties.  

With the signing of Memorandum of Understanding (“MoU”), both parties agreed to establish and enhance the collaboration to work together to achieve mutual sharing of digital expertise and innovation; in which Innov8tif’s solutions will be integrated to Securemetric’s Centagate Cloud and Signing Cloud to enable electronic know-your-customer (“e-KYC”) and workflow digitisation capabilities. At the same time, Innov8tif will enable the support of strong authentication through Securemetric’s Centagate Cloud for their application access control and offer it as an optional feature to their customers. 

This MoU was signed by Mr. George Lee, Chief of Executive Officer for Innov8tif and Mr. Edward Law, Chief Executive Officer and Executive Director for Securemetric. The MoU signing ceremony took place in Aloft Hotel Kuala Lumpur during the official launch of Securementric’s Centagate Cloud.

George Lee said “The MoU is a strategic alliance – we hope this collaboration can enhance and strengthen our working relationship with the pioneer in information security technology industry. There are vast amounts of collaboration and advanced technology transfer possibilities between the two companies. We are delighted for this partnership and look forward to the prospect of further developing our partnership in the future”.