The rise of technological innovations in recent years has made it possible to perform tasks more conveniently and flexibly. From the office to the home, technology, like apps, systems and gadgets, has evolved to provide smarter features that make daily living easier.

In the same way, these breakthroughs have revolutionised the recruitment process, including how we advertise jobs, track applicants, engage with them, and interview them.

That being said, it is critical to understand the needs that drive such innovations and to keep that resolve to take action toward advancements.

Starting with a purpose

After spending about seven years in the banking sector, I decided to take a break and explore a new industry. Having always been a people person, starting conversations and making introductions came naturally. It’s no surprise that these skills led to many job referrals for friends who needed jobs in the banking industry.

Fast forward to my 15 years onboard the Human Resources industry, I realised the challenges faced by recruiters are primarily comprised of repetitive administrative tasks. I know many hours are spent manually identifying and contacting potential candidates. This time could have been used for more productive tasks that ensure the recruitment of quality applicants.

At the same time, I also observed that young candidates constantly struggled with deciding what to pursue and ended up job hopping very often, much to the dismay of both the candidates and their employers.

Also Read: How Recruitery plans to help people who affected by tech layoff

Then, I decided I could use my experience to develop something to help address these needs.

The development of OppTy

Understanding how headhunting can be very tedious, I knew that the key was to digitise the process to help cut costs and save time. This is where the value of AI came in, and more than a decade-long experience led to a vision of the OppTy chatbot.

To answer such needs, it was also clear that a platform must be developed to help young individuals identify their career paths at an earlier stage. This would subsequently give them more stability and a better idea of the industry and career path that suits them.

The software algorithm was then strategically designed by collaborating with seasoned HR professionals who contributed valuable insights and understood insightful feedback and who also understood the process changes that had to be made.

Putting it all together

As a two-way talent management platform, OppTy offers multiple tools for both job seekers and recruiters.

For those searching for jobs, the platform provides extensive guidance in resume creation and portfolio maintenance. Oppty’s AI algorithms will recommend relevant skill sets, qualifications, and accomplishments to be included in their Curriculum Vitae (CV).

OppTy also offers a Career Roadmap Assistance – a feature that thoroughly depicts careers candidates can explore based on their current qualifications, skill sets and interests.

Through our Career Compatibility Test, candidates can determine their areas of strengths and weaknesses to determine well-matched careers. The platform also runs passive searches in the background and suggests the best job opportunities in the chosen industry.

On the other hand, talent hunters can manage their entire hiring workflow on OppTy: from candidate search to interviews, hiring, and onboarding. Features such as the automatic interview scheduler and job templates help streamline recruitment. By cutting back on long hours spent on admin work, it is estimated that companies can save up to 90 per cent on their annual hiring costs.

In addition, a Smart Candidate Selection tool is offered to help pool relevant candidates for job openings. Meanwhile, the Potential Candidates Pool allows companies to optimise their talent pipeline so they can hire as needed.

Staying ahead with OppTy

Ultimately, the recruitment process is changing, and OppTy seeks to pioneer this transformation. By tapping into various technologies to smoothen the process for many more recruiters and job seekers, OppTy has made a positive difference for job hunters and hiring managers.

Watch out for more upcoming developments in the next few months as we continue to grow into the thriving smart career ecosystem we envisioned OppTy to be.

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Digitalisation is the name of the game, having experienced a dramatic acceleration during the COVID-19 outbreak. In Asia Pacific, consumers are moving to e-commerce, contactless and electronic payments and in response, many businesses jumped onto the digital bandwagon too – if not, it will be difficult to survive.

The past few years saw significant developments in the payments industry, many spearheaded by fintechs. Fintechs play a significant role in addressing challenges and opportunities in areas like data security, fuelling growth for blockchain and data encryption, and building mobile and tech expertise to answer to consumer demands for convenience and easy navigation.

What are the key opportunities in 2023 for fintechs, and how can you scale your business in tomorrow’s hyper-digitalised world? Here are five trends we think fintechs should absolutely look out for.

Also read: China Mobile International launches iSolutions Carnival

1. Web 3.0
   

   Imagine a universe where payments run on blockchains and digital currencies are used widely to purchase goods and services. The reality isn’t that far away. Innovations are already rapidly scaling up in Web 3.0 and the metaverse, where banking is decentralised and where money can be moved quickly.

   As Web 3.0 comes into maturity and with the rise of the metaverse, more use cases will develop. Connecting and engaging digitally will only become easier and both businesses and consumers will also experience a proliferation of payment methods in virtual reality.

   Other than digital currencies, non-Fungible Tokens (NFT) may also gain wider acceptance as a form of payment, as they are a way to transfer value securely.

2. Global money movement
   

   Cross-border payments will not be unfamiliar to many, from sending remittances, buying or selling in social media platforms or eCommerce, working and getting paid in the gig economy, or simply just travelling abroad, we would have crossed paths with cross-border payments many times before.

   In the coming future, all eyes will be on digitalising supply chain payments and government disbursements, and gaining traction are new buzzwords — Treasury-as-a-Service and Payment-as-a-Service, where banks and other financial institutions offer their customers advanced payment or financial management solutions through cloud platforms.

   These developments matter because it impacts the build of national technical infrastructure to facilitate global money movements.

3. Embedded finance
   

   We are looking at a very near future where individuals nor businesses may never need to interact with a conventional bank ever again. Gone are the days when a bank or financial institution is the place to apply for credit, with embedded finance becoming another talk of the town. Simply put, fintechs are putting payment and finance experiences into a single seamless, convenient, and easy-to-use customer journey.

   Embedded finance embodies the integration of financial services like lending, payment processing, or insurance into non-financial businesses’ platforms. On the consumer end, users will be able to access the services they need wherever and whenever they need it. Imagine being able to shop online and collect consumer loyalty and rewards points on the same platform as you would use to purchase and get credit, buy travel insurance and manage store inventory.

   The evolution of embedded finance will fundamentally change experiences in commerce and impact merchant and consumer behaviour.

4. Merchant and small business enablers
   

   It cannot be understated that small and medium businesses (SMBs) are key drivers of economies globally. They may be small, but they pack a punch — SMBs represent about 90% of businesses and more than 50% of employment worldwide.

   For SMBs to thrive in the digital economy, they must evolve their operations and platforms with new payment experiences that will enhance the customer experience, be it face-to-face or online. Omni-channel retail is essential for businesses of all sizes, because customers expect to be able to seamlessly move from browsing on a mobile device to picking up their ordered item in-store without a hitch.

   With the current economic uncertainty, capital is getting more expensive, with lenders and investors deploying their funds with more scrutiny. With new payment innovations, SMBs can gain access to more efficient working capital that can free up liquidity for other essential business obligations.

5. Open banking

   Open banking has immense potential to enhance user experiences through improved credit decisioning, expedited on-boarding experiences and digital identity, by making crucial financial data accessible to promote more transparent relationships among consumers, businesses, and banks and also allow third parties to offer more customised financial services.

   Regulators across Asia Pacific are also seeing the potential of open data and open banking. Leading the charge in the region is Australia, while other central banks in the region are starting to make good strides in developing open data frameworks that will shape future open banking practices. Think of this as paving the way for more potential new digital bank launches in the future, as well as introduction of more financial solutions embedded into consumer platforms such as marketplaces and super-apps.

Also read: Achieving a sustainable future by harnessing IoT and data

Visa Accelerator Program: A gateway to digital payments

The payments landscape is ever-evolving and opportunities are abound for the year ahead. Startups and fintechs must arm themselves with the right tools and knowledge to maximise their business potential. A wealth of support, resources, and expertise are available through myriad of corporate innovation programs in Asia Pacific to help startups unlock the next big breakthrough in payments.

On the Visa Accelerator Program as one such opportunity for startups and innovators to become a catalyst of change in the payments industry, Kunal Chatterjee, Head of Innovation, Asia Pacific, Visa says, “We want to help startups unlock their growth potential and scale across the Asia Pacific region, and our six-month program is designed with broader market reach, product solutions, technical integration, and rapid commercialisation in mind. In fact, many of our startups have uncovered new commercial opportunities with Visa and our client partners during, and even after completing the program.”

There are many reasons to apply for the program, including rapid testing, access and partnership, exclusive mentorship, and business scaling. During the program, startups will collaborate to address challenges and explore opportunities in the digital payment field. Participants will also have the chance to receive mentorship from experts while co-developing, testing, and iterating new solutions.

Application to the program is ongoing and will run until January 10, 2023. Learn more about the program and how to register here: https://www.visa.com.sg/apaccelerator

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This article is produced by the e27 team, sponsored by Visa

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Eratani, an Indonesia-based agritech startup that provides end-to-end farm management solutions for local farmers, announces the close of their oversubscribed US$3.8M seed funding round led by Singapore-based VC firm TNB Aura and with commitments from AgFunder, Trihill Capital, and B.I.G. Ventures.

In a press statement, Eratani said that with the new funding, it aims to further scale its operations as they continue to digitise agricultural processes, perfect its farming management programs to best suit farmers’ needs, strengthen the team’s core operations, and expand to new areas in Indonesia.

Eratani will also be maximising its ongoing collaborations with the government. Through their involvement with the Ministry of Communications and Informatics’ Startup Studio Indonesia and through their partnership with the Agricultural Ministry of Indonesia and the Indonesian State Logistics Agency (BULOG), the team is set to receive further support in developing Indonesia’s agricultural ecosystem, strengthening their mission to enable food independence in Indonesia.

Through this funding, it projects to empower more than 50,000 fostered farmers by the end of 2024.

“It has been amazing to see the impact Eratani is already making in the lives of our very own farmers. With the traction, funding, and support we’ve received, the Eratani team is eager to continue our journey in building the ecosystem our country’s farmers deserve,” stated Eratani CEO Andrew Soeherman.

Also Read: The opportunities and challenges Singapore’s agritech sector faces

The startup said that the agricultural sector in Indonesia remains highly fragmented, with farmers still managing their own farmland while working with limited access to finances, quality supplies, and the market. Locally, according to the Indonesian Central Bureau of Statistics, around 75 per cent of Indonesia’s farmers continue to practice traditional cultivation methods.

Eratani was founded by Soeherman, Kevin Laksono, and Angles Gani.

It accompanies farmers from the beginning to the end of their farming process. Using field data statistics collected by the Eratani team, they are able to help increase farmers’ productivity. This data-driven farming management technology includes scientific agri-inputs instruction, agricultural education with selected agronomists, and the distribution of their agri-output for commerce.

Vicknesh R Pillay, Founding Partner of TNB Aura, said that “due to the highly fragmented nature of the agri value chain in the region, TNB Aura believes Eratani’s farmer-centric approach led by a mission-driven team is key to accelerate the transformation of sustainable food security in Indonesia.”

Since its 2021 launch, Eratani said that it has managed to onboard more than 10,000 fostered farmers across the island of Java, managing a total of 8,000 hectares of land and supporting the production of more than 52,000 tons of rice within a year of operating.

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Handprint, a Singapore-based technology platform that is building the regeneration infrastructure for the digital world, today announced that it had secured further investment from Singtel Innov8, the corporate venture capital fund of Singtel.

The additional investment takes Handprint’s total seed funding to over USD$3 million. The seed funding was first announced in March 2022.

In a statement, the company said that the new funding would enable Handprint to continue building technologies that help companies create certified, positive impact and turn sustainability into a competitive advantage which it dubbed as a revolution in corporate sustainability as we transition towards a regenerative economy.

In addition to announcing the funding round, Handprint also announced the launch of its new product Handprint for Impact Partners, a SaaS platform designed to make it easier for NGOs of all sizes to digitise their regenerative efforts, promote their impact projects to corporates and measure and report their verified impact in just one platform.

Also Read: Preference for green jobs is the “most exciting” climate tech development: Lightspeed

The platform will empower NGOs to manage and report the impact they create in a quantified way, providing continuous assurance to the businesses that back them.

It also enables NGOs to receive recurring funding, with no upfront cost, and digitise their processes for more transparent reporting of their impact and finances.

Handprint said that earlier this year, the World Economic Forum identified 15 key limitations to well-intentioned corporate sustainability pledges. Among them were the lack of trust in the verifiability of projects and their reported impact, as well as the over-focus on decarbonization and offsets at the expense of other important environmental challenges, like the depletion of species and destruction of natural habitats.

Launched in 2020, the Handprint platform was created to solve these challenges. Through the Handprint platform, companies can select from a range of verified climate, nature and social projects and embed that positive impact into their products and services, helping companies become truly planet positive.

Handprint said that its platform can also cut up to 80 per cent of the intermediary costs traditionally associated with impact projects thanks to the use of technologies like satellite imagery and machine learning for verification, solving for two key challenges facing companies and NGOs: value and trust.

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Image Credit: Handprint

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Digital Entertainment Asset (DEA), operator of the PlayMining NFT gaming platform, announced that it had raised a US$10 million investment from Los Angeles-based LDA Capital, a global alternative investment group.

The funding was meant to further accelerate its business and market expansion and to help optimise the development of PlayMining.

“DEA is very pleased to receive funding from LDA Capital, especially in the current bear market conditions,” said DEA co-founder and co-CEO Naohito Yoshida.

“We have been rapidly building out our catalogue of Play-and-Earn (P&E) NFT games, now enjoyed by 2.6 million users. This fresh funding will help develop our platform and drive market expansion even further, as we continue to actively form more strategic partnerships that broaden our ecosystem and to consolidate a leading position in the Web3 entertainment landscape.”

DEA is a Singapore-based global Web3 entertainment company launched in 2018. It manages intellectual property (IP) monetisation for content creators and operates the PlayMining platform, which comprises a growing selection of P&E games, the PlayMining NFT marketplace, the in-development PlayMining Verse metaverse and the DEAPcoin ($DEP) token.

Also Read: Singapore gets an NFT-gated Web3 co-working space Metacamp

LDA Capital is a global alternative investment group with expertise in complex cross-border transactions. Founded in 2018, it provides dynamic financing solutions to high-growth and capital-intensive businesses.

The LDA Capital team has collectively executed over 250 transactions across the capital structure in both public and private markets across 43 countries with aggregate transaction values of over US$11 billion.

Last month, DEA raised a minority investment from Rakuten Capital, the corporate venture capital arm of Japanese e-commerce and internet services giant Rakuten Group.

A separate Web3 partnership was also signed which sees the two companies.

DEA has users from all over the world, but has an especially large stake in Japan, with DEP being the first P&E token officially approved by Japan’s Financial Service Agency.

DEA also recently entered a business alliance with Japanese television station TV Tokyo to collaborate on content that educates the mainstream Japanese audience about Web3 technology.

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