The name of South Korean artificial intelligence (AI) fintech firm, AIZEN, is beginning to gain recognition in Indonesia. AIZEN's presence stands ready to help connect data from e-commerce, e-mobility, telemedicine, electric vehicles (EV), and other sectors to financial institutions.
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 a staggering US$ 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," said Damien Ngai, Country Director of AIZEN Indonesia, in a statement on Tuesday (1/23/2024).
Furthermore, according to research findings, the development of the electric vehicle ecosystem could boost Indonesia's economic growth to 5.8% by 2028.
According to Damien, developing the electric vehicle ecosystem will naturally support the transformation toward sustainable and eco-friendly mobility.
This aligns with Indonesia's commitment to Net Zero Emissions and concrete plans to accelerate decarbonization. Indonesia is also currently driving the industrial transition toward EVs to establish itself as an electric vehicle production hub.
"Naturally, when we look at Indonesia with its massive market size, a rapidly growing electric vehicle economy, and existing financing gaps, it perfectly positions AIZEN to meet the demand for better electric vehicle financing," Damien explained.
"AIZEN also assists our local banking partners in extending credit with mitigable risks," he added.
"With government support such as subsidies and policies, major corporations committed to ESG mandates, as well as rising EV literacy, we believe 2024 will be a massive year for the Indonesian EV market," he elaborated.
Two-Wheeled Electric Vehicles
Regarding the strategy for the Indonesian market, Damien stated that AIZEN is currently focusing on two-wheeled electric vehicles.
"Because we believe this will be the first wave of mass adoption. By partnering with e-mobility and logistics companies, we hope to provide affordable financing for riders to own electric vehicles and increase EV adoption rates," Damien explained.
On the banking side, Damien noted that AIZEN is currently collaborating with two Korean partners that have a local presence—Sunindo Kookmin Best Finance and Woori Finance.
"As we build a larger portfolio, we will begin adding more local partners to maintain competitive credit accessibility for everyone," Damien explained.
He also hopes that Indonesia will become a major market for electric vehicles. "We will allocate significant resources to expand our footprint in Indonesia," Damien said.
When asked about the advantages of AIZEN's services compared to other electric vehicle financing options, Damien concluded, "We work closely with various manufacturers across different price segments, and we also hold partnership agreements with industry leaders such as Grab and Lazada."
Source: Media Indonesia
https://mediaindonesia.com/ekonomi/646076/fintech-aizen-siap-dukung-pengembangan-kendaraan-listrik-di-indonesia
