AIZEN, a South Korean artificial intelligence (AI)-powered financial services startup, has signed a Memorandum of Understanding (MoU) with Lazada Logistics, the logistics business unit of Lazada Indonesia. This partnership aims to support the electric vehicle (EV) market landscape in Indonesia through 'EV-CreditConnect,' an AI banking service tailored for EV enthusiasts.
This agreement is expected to support the financing revolution within the EV industry by bridging the gap between financial institutions and mobility operators. Furthermore, it aims to expand the provision of efficient and eco-friendly vehicles for Lazada Logistics courier partners.
Damien Ngai, Country Manager of AIZEN Indonesia, stated, "By introducing AI-based financial services that accelerate credit decision-making in the Indonesian EV market, AIZEN has also contributed to Greener Finance."
“AIZEN is committed to expanding Indonesia’s EV ecosystem and advancing financial innovation models. By supplying essential financial services to a broad customer base with the potential to switch to electric cars and motorcycles, AIZEN aims to facilitate smooth access to the necessary funds while contributing to a greener environment,” Damien concluded.
According to research conducted by the Electric Mobility Ecosystem Association (AEML) and AC Ventures, Indonesia's electric vehicle market is poised to grow exponentially, reaching $20 billion by 2030. Recognizing this tremendous growth potential, AIZEN has swiftly introduced AI-based financial services to supply credit to the burgeoning Indonesian EV market.
AIZEN CreditConnect is an AI-based platform that enables financial companies to acquire customers, develop products, manage risks, and operate systems. The platform is already operational in Korea and Vietnam. In Indonesia, AIZEN is partnering with Sunindo Kookmin Best Finance to connect buyers with lenders, offering innovative financing solutions for EV ownership to Lazada Logistics courier partners.
Full support from the Jakarta Provincial Transportation Agency was also expressed by Syafrin Liputo, Head of the Jakarta Provincial Transportation Agency. He hopes that the use of electric-based vehicles can be implemented gradually across all operations to help build Jakarta as a sustainable city.
Philippe Auberger, Chief Logistics Officer of Lazada Logistics Indonesia, said, “We are delighted to collaborate with AIZEN to support our efforts in achieving 'greener' logistics operations. This collaboration will provide easier access for our courier partners to own electric vehicles, thereby expanding the fleet of electric-based and eco-friendly vehicles—known as #BlueVehicle—at Lazada Logistics. We are indeed committed to continuously developing high-quality logistics solutions that are greener and more sustainable for businesses in Indonesia.”
AIZEN CreditConnect for Lazada Logistics Courier Partners and Greener Finance
Currently, aside from infrastructure and educational challenges, the EV industry also faces hurdles regarding vehicle financing. Down payments and interest rates for electric vehicles are generally higher, with shorter loan tenors compared to traditional vehicle financing. Various factors are taken into consideration, such as the emergence of new EV brands and different types of electric vehicles.
Through this partnership, both companies will work together to facilitate the smooth deployment of EV fleets and build an eco-friendly delivery system. With the presence of AIZEN CreditConnect, borrowers will secure loans more easily. In addition, Lazada Logistics courier partners will benefit significantly from fuel savings, which can ultimately improve their livelihoods and create a positive impact on environmental and social sustainability.
Currently, Lazada Logistics courier partners utilizing EV motorcycles cover the Greater Jakarta area (Jakarta, Bogor, Depok, Tangerang, and Bekasi). For the procurement of #BlueVehicle, Lazada Logistics is collaborating with Smoot Elektrik, an Indonesian-made smart electric motorcycle that connects to smartphones. Smoot is fully integrated with mobile devices; the Smoot application features various tools that make it easier for couriers, such as monitoring the motorcycle and battery health, cashless payments for topping up mileage (KM), a GPS tracker, remote engine shutdown, trip history logs, and more. Additionally, there are over 1,000 Smoot battery swapping stations scattered across Indonesia. Moving forward, Lazada Logistics will expand EV usage for its courier partners to reach the target expected by the end of the year.
By processing data generated by electric vehicles, AIZEN can help banks secure more accurate data using its AI Banking-as-a-Service (BaaS) platform to assess and manage their EV portfolios. This results in lower risk premiums and assists consumers with more affordable EV financing. Improved financing has the potential to drive greater adoption of eco-friendly electric vehicles, and an increasing consumer base can create better credit products to serve a wider market share.
Source: Antara News
https://www.antaranews.com/berita/3744438/dukung-logistik-berkelanjutan-aizen-gandeng-lazada-logistics
