Jirnexu

JIRNEXU
Private
Industry Financial Technology
Founded 2012
Headquarters Malaysia
Key people
 Yuen Tuck Siew (Chief Executive Officer), Liew Ooi Hann (Chief Financial Officer), James Barnes (Chief Operating Officer), Lucas Ooi (Chief Commercial Officer & Head of Insurance), Cedric Viver (Chief Technology Officer, James Wong (Chief Business Development Officer)
Services Online financial aggregator, customer lifecycle management
Number of employees
 51 - 100 (2017)
Website www.jirnexu.com

Jirnexu Sdn Bhd (Jirnexu) is a Southeast Asian financial technology startup headquartered in Kuala Lumpur, Malaysia.[1] The company provides technology to help financial institutions manage different stages of the customer journey: marketing, acquisition, fulfilment and retention.[2][3]

Business operations

Jirnexu provides banks, insurance and telecommunications companies with a full stack technology solution to help them manage the customer lifecycle from marketing through retention.[4] With a Southeast Asian focus, the company currently has both business-to-business (B2B) and business-to-consumer (B2C) operations in Malaysia and Indonesia.[5][6]

 

Companies working with Jirnexu include Citibank, HSBC, Standard Chartered, Alliance Bank, AEON, AIA, Zurich, Manulife, U4Life, BSN, RHB, and U Mobile.[1][7][8]

History & background

Jirnexu was formerly known as Saving Plus. 

In 2012, former Citi banker Yuen Tuck Siew, together with James Barnes founded RinggitPlus.com, a comparison and application website for financial products in Malaysia.[9] The website was officially launched in 2013 to allow comparison of and application for credit cards, home loans, car loans, investments and insurance schemes.[10][11]

In 2014, RinggitPlus.com merged with SaveMoney.my, an online portal that provides information on different credit cards, car loans, phone, travel and shopping in Malaysia.[12] SaveMoney.my was founded by Liew Ooi Hann and Lucas Ooi in 2012.[10] Following the merger, Saving Plus Sdn Bhd was incorporated while RinggitPlus.com continued to operate as a comparison website.[13]

 

In 2016, Saving Plus rebranded itself to Jirnexu;[5][7] the name means “prosper” in Maltese.[14] The company launched XpressApply, an online application and CRM technology as part of its business to provide financial institutions a channel to reach consumers digitally by handling banking product applications online. 

Several venture capital firms have funded Jirnexu, including Celebes Capital, NTT DoCoMo Ventures, Nullabor, Tuas Capital Partners, Anfield Equities, Digital Media Partners, Gobi Partners, OSK Ventures International Berhad and private investor Steve Melhuish.[15][5][16][17] In March 2017, Jirnexu reported having total funding of US$6.0 million.[18]

 

Technology

Jirnexu provides banks and insurance companies with its proprietary digital application workflow management solution and CRM platform, XpressApply. It is the core technology behind Jirnexu’s full stack solution.[19]

This B2B Managed Service aims to help firms to track and manage customer acquisition and lifecycles, from the point of customer application to approval.[20][21][22]

How it works: XpressApply is integrated with websites, and this integration allows users to apply for financial products in addition to comparing them. The online application comes in digital questionnaires which replace conventional long, paper-based forms.[23][[24][20] The data collected is then used to help the financial institutions to acquire and retain the customers.[6]

Jirnexu currently operates two financial comparison sites, RinggitPlus.com in Malaysia and KreditGoGo.com in Indonesia. KreditGoGo was launched in 2014 with the intent to provide Indonesians with information and access to financial services.[25]

The two sites provide a platform and tools for consumers to compare a range of financial products.[8] Articles on managing personal finances are also available on the two websites.

Financial products

The financial products available for comparison on the websites include loans, credit cards, mortgages, saving accounts and insurance plans.[26][27][24] 25% of the existing products on RinggitPlus.com are Shariah-compliant.[17]

 

See also

References

  1. 1 2 Yong, Dion (2017-03-23). "Malaysia’s Jirnexu Closes Series A With US$4.5 Million For Full-Stack Fintech Software". Asia Finance. Retrieved 2017-04-21.
  2. ↑ "Fintech firm Jirnexu adds US$1.5M to its Series A, aims to complete Series B by early 2018". e27. Retrieved 2017-04-21.
  3. ↑ Graham, Ben (2017-03-23). "Full-stack FinTech provider Jirnexu closes Series A with $4.5m - Fintech Roundup". Fintech Roundup. Retrieved 2017-04-21.
  4. ↑ Zerucha, +Tony (2017-03-24). "Jirnexu closes $4.5M Series A". Bankless Times. Retrieved 2017-04-21.
  5. 1 2 3 Russell, Jon. "Southeast Asia financial comparison startup Jirnexu lands $3M to expand to digital banking services". TechCrunch. Retrieved 2017-04-21.
  6. 1 2 "Malaysians don’t just compare, they want to buy financial products online: Report". Digital News Asia. 2016-08-25. Retrieved 2017-04-21.
  7. 1 2 "Southeast Asia Fintecher Jirnexu Raises $3M Series A Funding". Crowdfund Insider. 2016-05-24. Retrieved 2017-04-21.
  8. 1 2 "Jirnexu Ready to Fortify Digital Banking Services with $ 3 million fund - Startup World". Startup World. 2016-05-24. Retrieved 2017-04-21.
  9. ↑ Ting, Henry (2015-12-23). "Yuen Tuck Siew, Co-Founder of Saving Plus - The Asian Entrepreneur". The Asian Entrepreneur. Retrieved 2017-04-21.
  10. 1 2 Khoo, Jean (2015-05-19). "7 Financial Comparison Websites To Help You Make Wise Decisions In Malaysia". Vulcan Post. Retrieved 2017-04-21.
  11. ↑ "Smart Money on Siew Yuen Tuck | The Malaysian Reserve". themalaysianreserve.com. Retrieved 2017-04-21.
  12. ↑ "Consumer portals confident of US$1m revenue with tie-up". NST Online. 2014-11-25. Retrieved 2017-04-21.
  13. ↑ "RinggitPlus.com and SaveMoney.my announce March merger". Digital News Asia. 2014-11-25. Retrieved 2017-04-21.
  14. ↑ "Fintech startup Saving Plus rebrands to Jirnexu, raises US$3m Series A". 2016-05-24. Retrieved 2017-04-21.
  15. ↑ "Fintech CRM Provider Rebrands as Jirnexu as $3m Series A Funding Announced | Finance Magnates". Finance Magnates | Financial and business news. 2016-05-24. Retrieved 2017-04-21.
  16. ↑ "Fintech funding round-up: 23 March 2017 » Banking Technology". www.bankingtech.com. Retrieved 2017-04-21.
  17. 1 2 "Malaysian fintech Jirnexu closes $4.5M Series A round, kicks off Series B discussions - DealStreetAsia". www.dealstreetasia.com. Retrieved 2017-04-21.
  18. ↑ "Malaysia’s Jirnexu raises $1.5 million for fintech software". VentureBeat. 2017-03-22. Retrieved 2017-04-21.
  19. ↑ Finextra (2016-05-24). "Jirnexu raises $3M in Series A funding". Finextra Research. Retrieved 2017-04-21.
  20. 1 2 "Singapore: Fintech startup Jirnexu raises $3m Series A led by Digital Media Partners, others - DealStreetAsia". www.dealstreetasia.com. Retrieved 2017-04-21.
  21. ↑ "DMP leads $3m Series A for Malaysia's Jirnexu". www.avcj.com. Retrieved 2017-04-21.
  22. ↑ "U for Life partners Jirnexu for online insurance products". www.thesundaily.my. Retrieved 2017-04-21.
  23. ↑ "Financial services startup raises $3m to bring more customers to banks". www.techinasia.com. Retrieved 2017-04-21.
  24. 1 2 "How Malaysia’s top financial comparison site plans to dominate Southeast Asia". www.techinasia.com. Retrieved 2017-04-21.
  25. ↑ "KreditGoGo is the latest online financial comparison site to enter the very hot Indonesian market". www.techinasia.com. Retrieved 2017-04-21.
  26. ↑ "InsurTech and FinTech Players Join Forces | SME Magazine". smemagazine.asia. Retrieved 2017-04-21.
  27. ↑ "Should you switch from savings to fixed deposit?". Free Malaysia Today. Retrieved 2017-04-21.
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