Fintech
VCI Global partners with Treasure Global Inc. to accelerate
KUALA LUMPUR, Malaysia, June 18, 2024 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG” or the “Company”), through its subsidiary Credilab Sdn. Bhd., today unveiled its strategic collaboration with Treasure Global Inc (“TGL”) to enhance TGL’s e-commerce platform, ZCITY App, into an advanced AI-powered Super App (“ZCITY Super App”) . In this strategic partnership, VCIG will leverage TGL’s large user base of approximately 3 million users, gaining immediate market access to expand its full range of financial services.
As fintech takes on a vital role in today’s digital economy, its impact on e-commerce is indispensable, offering sophisticated tools and platforms that seamlessly streamline transactions. In this new partnership, Credilab brings its proprietary, cutting-edge fintech and microfinance capabilities and leverages VCIG’s collaboration with Cogia GmbH, offering industry-leading secure messaging technology, converging fintech and e-commerce. By incorporating secure messaging, a digital wallet and AI-powered microfinancing capabilities into TGL’s ZCITY Super App, this integration promises a revolutionary unified platform that improves every aspect of digital transactions, offering a seamless, secure and highly efficient user experience.
This partnership marks significant progress towards improving financial inclusion across Southeast Asia by leveraging cutting-edge technologies to provide seamless financial services that benefit both businesses and their users. The initial phase of this initiative will be launched in Malaysia, which has a population of over 33 million. This strategic decision grants VCI Global rapid access to a diverse and dynamic user base, accelerating the Company’s full range of financial services and strengthening its strategic position in Southeast Asia’s fintech and e-commerce landscape.
“Leveraging TGL’s large user base of 3 million, this strategic partnership not only expands our geographic reach, but also accelerates our deployment of innovative solutions, promising long-term value for our shareholders,” said Dato’ Victor Hoo, Executive Chairman and Group CEO Executive Director of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, artificial intelligence, robotics and cybersecurity. Headquartered in Kuala Lumpur, Malaysia, our primary operations are concentrated in Asia, with significant visibility in Asia Pacific, the United States, Europe and the Middle East. VCIG primarily offers advisory services in capital markets, real estate, artificial intelligence and technology. In its technology businesses, the company operates a proprietary financing platform serving businesses and individuals, as well as a secure messaging platform serving governments and organizations. We also invest in, incubate, accelerate and commercialize AI and robotics businesses and technologies.
For more information about the Company, please log on to https://v-capital.co/.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements that may be accompanied by the words “intend,” “may,” “will,” “plan,” “will wait” “anticipates”, “plans”, “forecasts”, “estimates”, “aims”, “believes”, “hopes”, “potential” or similar words. Actual results may differ materially from those described in these forward-looking statements due to certain factors, including, without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of widespread of the Coronavirus (COVID-19) and future measures taken by authorities in countries where the Company has supply chain partners, the demand for the Company’s products and the economic condition of the Company’s customers, the impact of competitive products and prices , successful management and general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release and the Company assumes no responsibility to update any forward-looking statements contained in this release, other than in accordance with applicable law.
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