Ant Financial's new progress in overseas expansion: it supports Malaysia's super APP and completed its research and development in just 4 months
2024-08-28
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Recently, Kenanga Investment Bank Berhad, the largest investment bank in Malaysia, has obtained approval from the Securities Commission of Malaysia to officially launch the wealth management super APP "KDi GO". Ant Financial's mobile R&D platform mPaaS provides it with a full set of R&D solutions, and based on the innovative concept and technical architecture of China's "Mini Programs", it integrates many financial services such as savings, remittances, stock trading, electronic payments, and financial management into one APP, which not only provides convenience to users, but also improves R&D efficiency by 80%.
According to reports, Kenanga Investment Bank is the first bank in Malaysia to introduce China's "Mini Program Technology Architecture". In the past, different types of financial services were usually scattered on different apps, resulting in poor user experience and high costs for users to obtain financial services. "In the past, we needed to use complex Excel to combine and count all investment and financial management data, but through the super app, all investment portfolios are clear at a glance and more convenient. We hope to promote more inclusive financial services in Malaysia and enable millions of people to obtain better, more convenient and low-cost financial services." said Xie Weiliang, group managing director of Kenanga Investment Bank Co., Ltd. "We worked with Ant Digital and completed the development of the APP in just three or four months. We are very satisfied with the whole process."
Photo caption: Shared by Kenanga Investment Bank Limited Group Managing Director Xie Weiliang
Yan Juan, senior regional sales manager of the international business department of Ant Financial, said that China's innovative mini-program architecture has many advantages over the common R&D solutions overseas. For example, it has changed the traditional model of "every vulnerability fix and function change must wait for users to update the APP", achieved user-friendly optimization, and greatly reduced the frequency of APP updates; in addition, the R&D team can independently develop and test multiple mini-programs in parallel, which is more flexible than the traditional model and can reduce 90% of operation and maintenance costs.
It is reported that in addition to KDi GO, Malaysia's largest e-wallet TNG ewallet, smart community Setia GO and other applications all use the mPaaS-based mini-program architecture to provide a leading technical foundation for building a rich merchant ecosystem.
Ant Digital has repeatedly stated that it will continue to expand into overseas markets, with the first step focusing on the rapidly growing digital needs in Southeast Asia. At present, its security technology platform ZOLOZ, mobile development platform Ant mPaaS, cloud native PaaS platform SOFAStack, and Web3.0-oriented technical services ZAN have expanded to Malaysia, the Philippines, Indonesia, Singapore and other regions, with revenue increasing by 300% in the past year. Among them, Ant mPaaS has provided standardized services and componentized tools to hundreds of institutions and corporate customers in China, helping to develop more than 2,000 super apps, and has also become an important experience for going overseas.
