Wednesday, July 21, 2021

Electronic KYC in ESG

Investors are increasingly applying Environmental, Social, and Corporate Governance (ESG) data – the non-financial metrics, as part of their analysis process to identify material risk and growth opportunities. Vincent Triesschijn, Director of Sustainable Investing at ABN AMRO, highlighted the significance and growth potential of ESG driven investing in an interview: “We’re seeing that investing according to ESG criteria is becoming more and more popular. Worldwide, sustainable investments have reached record amounts. ABN AMRO is currently managing 20 billion euros’ worth of client assets in sustainable investments, of which 1 billion euros in impact investments. We’re incredibly proud that the new Impact Equity Fund has already raised 200 million euros.” 

Sustainable investing has grown in popularity thanks to a shift in investing methodology preference driven by the millennial generation. The earliest batch of millennials (born in early 1980s) are already in their late 30s by now – the prime investing years. This investment discipline shift will gradually influence all other generations when the interest is becoming mainstream. Sustainable funds are growing, with the total asset size globally just shy of US$2 trillion. The bulk of these funds are in Europe (US$1.63 trillion).

Even the banks and financial institutions, are increasingly allocating a higher weightage to sustainability metrics as part of financial loan approval.

Image by Gerd Altmann from Pixabay
Image by Gerd Altmann from Pixabay


eKYC for Positive Environmental Impact

Microsoft set a bold goal and detailed plan to be carbon negative by 2030, and even to remove historical carbon emissions by 2050. 

Even in current times when physical movement is facing disruptions, many businesses are still primarily relying on physical customer servicing touchpoints in business and sales operations. This is a significant source of carbon footprints. Based on a survey done by Michael Page, the average commuting time between home and work, in Kuala Lumpur, is 44 minutes. Deriving inspiration from research done by NRDC, 1 minute on the road and assuming at ideal traffic (55mph), average carbon dioxide emissions is 291 grams/minute/car. In Kuala Lumpur alone, even if we are assuming a very low traffic volume of 100,000 cars on the road each day, the carbon dioxide emissions would reach 1,280 tonnes per day! Using the same analogy, you can derive the carbon footprints produced by your business, for all the branches nationwide, contributed by your staff and customers each day.

Outdoor air pollution was estimated to have caused 4.2 million premature deaths worldwide in 2016, and the highest concentrations of air pollution are in Asia.

Wednesday, July 14, 2021

Post Pandemic World: The Utilisation of Facial Biometrics in The Travel Industry

The recent pandemic is already transforming the way we travel and is showing to be an evolutionary catalyst for numerous sectors. Multiple touchpoints that formerly resulted in long queues of passengers are being phased out in favor of touch-less and self-service options. 

Restoring Confidence in Air Travel

Airlines and airports throughout the world are deploying technology that allows passengers to check-in using facial recognition, allowing them to pass through many touchpoints in the airport without having to touch anything. Instead of transferring documents back and forth, passengers can use self-service biometric verification to assist in baggage check-in, security check-point clearance, business lounge access, and boarding.

Photo by Anna Shvets from Pexels
Photo by Anna Shvets from Pexels

Face recognition is natural and crosses language barriers; most people know how to capture a selfie, so looking at a screen for a snapshot is easily accomplished. The pair of selfie photo and ID photo are compared by algorithm, and a match/no-match is concluded, following by the display of a red or green indicator light — a universal indication for a person to stop or go. 

To further promote touch-less consumer experience and safeguard personal data privacy, biometric authentication technology can be embraced at travel retail point-of-sales, and for in-flight purchases. Detection of elevated body temperature (EBT), auto-recognition of passenger’s flight number at duty free retailers without unnecessarily revealing travel document identification details, and not forgetting – the cashless payment. Spearheaded by market demand, face recognition algorithm has also been developed to a maturity that reliably recognises a face even when a mask is worn. Integration of various major technologies into a smooth process is the key to success. A new world means that contactless customer onboarding in every step of travel is now the new norm.

Sunday, July 11, 2021

Being Able to Give is a Blessing

Thanks to Ken Chia the Councillor of Subang Jaya City Council (MBSJ) Zone 1 and his team, for providing assistance to help Innov8tif reach out to needy community affected by pandemic lockdown.


“In times like this, people just need a little help to get through it. Our grocery vouchers are aimed to be distributed to communities who suffer an income loss. We are blessed that Innov8tif team members are all healthy and the company is still able to operate its services. Let's do our part together, and help each other during challenging times,” says George Lee CEO of Innov8tif.

A total of 200 families each received a food and grocery voucher sponsored by Innov8tif, distributed from three different locations in Subang Jaya SS13 and SS19. May these individuals and families be given the strength to ride through challenging time.

Saturday, July 3, 2021

Post-Pandemic Boom: Tapping the “Conserved” Consumer Spending via Digital Services

According to global economists, such as Jan Hatzius, Goldman’s chief economist, the post-pandemic recovery will see a very high growth rate. Subsequently triggers game-changing events with far and long-term change in digital landscape, especially in digital/cyber security. 

During the pandemic lock-down, a huge lifestyle strain falls onto every citizen around the world, forcing a slew of adjustments in how we live and work. However, as the outbreak has progressed, such strain has gradually turned into a new behaviour bias more towards digital lifestyle. The most lasting consequence may be invisible: the marking of individuals coming of age during the pandemic era, similar to how the Great Depression and World War II marked their generations, with wide but difficult-to-predict impacts that may affect society for decades to come.

Over the past year, the one thing we have learned about COVID-19 is that for every two strides forward, there will be one step back, sometimes two, and occasionally three. Here are some developments, challenges and predictions that might be seen on the digital, business and commercial fronts in the coming years.


Seasoned Digital Behaviour + Spending Power Surge = Fast Tracking Recovery

Digital Behaviour: During the lockdown and social distancing period, entire populations relied on online methods to replace offline necessities. Now, digital behaviors have surfaced to the top of everyday life, and as people become more familiar and comfortable with the accessibility and convenience of doing things online - whether it be shopping, paying bills or signing up for new services. The digital behaviors built during the pandemic will hold and sustain as a new way moving forward.