Fintech is at the frontline of the financial revolution, ushering innovations that propel the digital transformation of financial services. This ambition to innovate and disrupt has invited the best minds in finance and technology to come together and come up with solutions that help bolster the industry, ultimately spearheading the digital revolution.

Throbbing at the centre of that digital revolution is the leading fintech company, Airwallex. The company is on the hunt for innovators who share their vision of digitally transforming businesses, facilitating them to go from offline to online, and take local ideas to a global platform.

‟Fintech has been and will continue to be a game-changer to me. Finance plays an integral role in society, and I believe fintech holds the ability to reshape and improve the level of financial access for everyone, especially the unserved and underserved,‟ explained Koh Jee Lee, Manager at Airwallex’s Financial Partnerships team. ‟Fintech goes beyond just the traditional financial services sector; it impacts and is a key driver of growth of many other industries, including eCommerce, insurance and lending,‟ she added.

Meanwhile, Chris Chan from the Platform Sales team expressed, ‟we are still only at the beginning of the fintech revolution and there is so much more to be done. Everything that we’ve done so far will be vastly different in 5-10 years. The next wave of fintech will marry new innovations into our day-to-day: blockchain, AI, IoT, social media, etc. The manner in which we interact with money will be even more seamlessly integrated into our daily lives (talking to Google, in-vehicle purchases, deeper integration to wearables). All the challenges and pains we associate with money (banking, payments, expenses) will be non-issues in the future.‟

Understanding what it means to be in fintech

As a manager in the Financial Partnerships team, Jee Lee is responsible for building and maintaining strategic partnerships with the company’s network of banking partners across the APAC region. On the other hand, Chris helps sell to large enterprises and platforms in APAC looking to leverage Airwallex’s payment capabilities for themselves and/or their customers.

With its expansion into Singapore, Airwallex is especially keen on bringing in local talents thirsty for career advancements into the fold of their fast-growing company. On the personal side, working at a startup will enable professionals to hone their speed and flexibility, considering the fast-paced environment the industry is in.

On why he joined the industry, Chris explained, ‟Fintech wasn’t the obvious choice when I first started looking for a career but I knew I wanted to be in a fast-moving space and around smart people. Payments (and really good people) took a chance on me and I’ve been hooked ever since.‟

Also read: How should you engage customers in a rapidly changing market?

For Jee Lee, the decision was more decisive. ‟I started my career at one of the big four accounting firms, focused on tax consulting. I yearned for a role where I would be able to better witness the influence and impact of my work,‟ she shared.

For those answering the call for the first time, especially fresh graduates, Airwallex serves as the ideal launchpad into the industry. Industry switchers, be it account executives from banks or product managers from investment companies, will similarly gain an inside look into processes, such as fundraising that they might not have had access to during their time in larger institutions.

Jee Lee believes that fresh graduates and industry switchers shouldn’t be afraid to step out of their comfort zone, especially those looking for a mid-career switch. ‟Spend a good amount of effort to understand the industry and find out where your interests lie — this includes opening yourself up for conversations with people in the fintech space. Once you’ve made up your mind, focus on your goals and let go of the assumptions and fear of judgement. Given the fast-paced nature of the industry, it is okay to start from scratch as there will always be opportunities to learn and upskill yourself!‟

As for Chris, his advice is simple: ‟Ask and ask. Seek to understand, not just know.‟

Finding upward growth in an innovative industry

Old-timers in the tech industry will find their place in the sun as well at Airwallex. Given that it is on an upward growth trajectory, Airwallex is where professionals can experience exponential growth that will enable them to explore exciting new opportunities, launch new products in the market, and flex their strategic skills by designing fresh, go-to-market plans.

Airwallex’s commitment to its cogent value proposition — empowering modern businesses to grow beyond borders — has helped the startup score over US$900 million in total funding from 12 renowned investors such as Square Peg, Tencent, Sequoia Capital China, and Salesforce Ventures, achieving a valuation of US$5.5 billion.

Chris counts delivering first-of-its-kind projects as some of his career milestones. ‟Across my 4.5 years in fintech, I’ve had the opportunity to deliver customers products which were the first ever implementation of its kind globally or within the region,‟ he expressed.

‟It definitely comes with its own challenges pulling so many pieces together — but being a part of a delivery team for something brand new & impactful for customers as well as the business has been the highlight of my career thus far.‟

Also read: Building resilience through the SAFE STEPS D-Tech Awards

On the other hand, Jee Lee believes that her career highlight lies in the network of people she has met throughout her career at Airwallex so far. ‟Much of my job involves collaborating cross-functionally and externally to drive strategic outcomes for the company. Throughout my journey at Airwallex, I’ve interacted with many individuals who are smart, passionate and driven, and I personally feel inspired by them,‟ she elaborated.

In an industry marked by massive talent shake-ups, Airwallex’s sturdy foundations make it a safe ground for professionals to plant their feet. Founded in 2015, Airwallex was inspired by real-life experiences. Two of our founders, Jack Zhang and Max Li, invested in a Melbourne cafe and as small business owners, recognised first-hand the impact of high FX fees and banking costs on profit margins. They sought to engineer a better solution for businesses operating across borders. Airwallex has since expanded into 19 international offices across Asia-Pacific, Europe, and North America with a combined force of over 1,300 team members.

Behind the tremendous growth are the talents and professionals who put groundbreaking ideas into work. The crucial role of talent for fintech startups has been captured in numerous data, with the Thought Machine reporting that 65% of respondents acknowledge that talent sourcing and retention will be their organisation’s priority in the next three to five years.

The indispensable contribution of talents and professionals has won them outpouring support from Airwallex. The startup adopts a people-centric culture that revolves around diverse teams of innovators, movers, and shakers jointly passionate about empowering customers.

The future of fintech in Southeast Asia

The startup spread its wings in Singapore in 2022 and has already witnessed massive market potential. After all, Singapore has risen to become one of Southeast Asia’s fintech leaders, with fintech innovators setting up bases in the country’s vibrant fintech ecosystem as gateways into the broader ASEAN region. Statista data shows that the country’s total digital payment transactions alone will reach an estimated US$20.91 billion by 2023, while digital payment users are expected to hit 4.58 million by 2027.

‟I see Singapore as one of the leaders within Southeast Asia in embracing and promoting a vibrant fintech ecosystem. Singapore is home to a large community of fintech innovators and has proven to provide a gateway for companies to successfully scale outside of the country. I am excited by further developments in Singapore’s fintech landscape with the strong emergence of trends like open banking, embedded finance, BaaS and BNPL,‟ shared Jee Lee.

Moreover, Airwallex encourages its teams to utilise its six values as guiding principles in facing challenges, sharing knowledge, practising openness, delivering results, and celebrating success. These values are: customers first, obsessive curiosity, inspire and be inspired, intellectual honesty, craftsmanship, and making an impact.

Also read: The future of sustainable growth according to Dagangan

Chris believes that adaptability and malleability are key traits needed to succeed in fintech. ‟’Change is the only constant’ is uttered across the industry all the time because of the sheer amount of innovation & development that goes on. It’s really a double-edged sword because your special formulae for success or personal knowledge libraries can become outdated within a couple of years or months even. The best people in fintech consciously & constantly make an effort to stay updated — no matter their seniority, role, or designation.‟

Jee Lee added that it is important to stay curious. ‟Fintech is an exciting space to be in today, with a lot of innovations founded upon an entrepreneurial spirit; having a curious mind and looking for different ways to solve problems is key to staying relevant in the industry. In an environment where the only certainty is change, being curious will present a learning opportunity daily,‟ she explained.

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

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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Starting a business is no easy feat, but growing it to become a successful startup is even harder. With so much competition in the market, it can be a challenge for founders to stand out and make a lasting impact.

However, one strategy that has proven to be effective in driving cost-effective, long-term success is leveraging niche communities.

A niche community is a group of people who share a common interest or passion, often in a specific product or service. By targeting and engaging with these communities, startups can tap into a pool of loyal and engaged customers who are already interested in what they have to offer.

Having built two global online education companies surrounding learners, clients, stakeholders, and everyone in between, here’s how I’ve witnessed the advantages of targeting niche communities.

High levels of engagement

Niche communities are often highly engaged, with members who are passionate about their interests and actively participate in discussions and events. This makes them a valuable source of feedback and insights for startups looking to improve their offerings.

Uniswap, the decentralised exchange that has disrupted the cryptocurrency trading landscape, has created high levels of engagement with its community through a combination of innovation and community-driven initiatives.

The platform’s decentralised structure and user-friendly interface have made it a hit with traders and investors who are looking for a more accessible, secure, and transparent way to trade cryptocurrencies and tokens.

Also Read: Navigate in a cookie-less world, leverage AI and think community-first

The team behind Uniswap has been proactive in engaging with its community, hosting online discussions and hackathons, and working closely with developers to improve the platform. In January, 80 per cent of token holders supported the decision of the platform to expand to the BNB chain. The result is a passionate community that is invested in the success of Uniswap and that is driving the platform as a unit towards new heights of innovation. 

Increased visibility

Targeting niche communities allows startups to reach a focused, relevant audience rather than trying to appeal to a broader, less engaged audience. This can result in higher levels of brand awareness and increased visibility for the startup.

StartJPN, an emerging Web3 community with over 19,000 Discord members predominantly from the Japanese and Philippines markets, has increased its visibility and growth by cultivating a passionate and dedicated niche community.

The project, which is focused on bringing blockchain technology to Japan and empowering users with new financial freedom, has quickly become a hit with the country’s tech-savvy and forward-thinking population.

To build its community, StartJPN has taken a multi-pronged approach, leveraging a combination of events, social media, and partnerships to engage with its users and build excitement around the project. With their latest collection NEO STACKEY, the project has formed a partnership with boxing champion Manny Pacquiao.

Greater customer loyalty

By building a strong relationship with niche communities, startups can create a sense of loyalty and trust among their customers. This not only results in repeat business but also in word-of-mouth marketing, as customers become advocates for the startup and spread the word to others.

Fave, the Southeast Asian fintech company, has increased visibility and growth through a strategic focus on building communities. The company’s platform, which provides users with exclusive discounts and rewards at local businesses, has quickly become a go-to for consumers with over 1.1 million followers on Facebook. However, Fave’s success isn’t just due to its platform, it’s also a result of the company’s focus on fostering strong communities of users, merchants, and partners.

At the same time, Fave has been proactive in engaging with its community through social media, email marketing, and other online initiatives and has worked closely with its partners to develop new and exciting programmes that benefit everyone involved.

Also Read: How a decentralised localisation and building a community of trust can lead to global success

Earlier this year, Fave announced a partnership with TNG Digital’s Touch ‘n Go eWallet, further tapping into 18 million registered users and over 1.2 million merchants. The result is a vibrant and engaged community that is helping to drive Fave’s presence in Southeast Asia.

Access to valuable feedback

Niche communities often include experts and thought leaders in their respective fields, and startups can tap into this wealth of knowledge by engaging with these individuals and soliciting their feedback on their products or services.

Clonex, the web3 project born from the collaboration between NFT studio RTFKT, has built a thriving niche community to gather valuable feedback from its holders. The project has leveraged its community to gain valuable insights into the needs and desires of its users and has used this information to improve its platform and create new features that meet their needs.

This focus on community engagement has paid off for Clonex in a big way, as it was fast-tracked for acquisition by Nike in December 2021, which was looking to tap its expertise in augmented reality, blockchain and digital assets.

With its engaged community providing valuable feedback, Clonex was able to refine its platform and create features that resonated with its users. This helped the company to stand out from the competition and attract the attention of larger players in the Web3 space.

Looking forward

Building a thriving niche community is a crucial aspect of driving success for startups. Startups need to identify the right niche community through market research, build relationships with the members through engagement and participation, and foster community-driven initiatives to create a sense of trust and loyalty.

Don’t boil the ocean, start with one member at a time.

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Ampotech, an IoT- and AI-based building energy management startup in Singapore, has raised S$1.78 (US$1.3) million in pre-Series A funding led by Earth Venture Capital (Earth VC).

KSL Maritime Ventures, the VC arm of The Kuok Maritime Group, and existing investors Silicon Solution Ventures and SEEDS Capital also joined.

Ampotech will use the funds for international expansion. It plans to open its first international office in the coming months while bringing its solutions into new industry verticals beyond its base in commercial real estate.

“Ampotech’s intellectual, dynamic, and dedicated team shares our aspiration to help buildings become smarter, more sustainable, and more positive for the Earth. Buildings are changing our lives for the better, but they also consume massive amounts of energy, threatening our climate. To tackle that issue, we have Ampotech as the first of many tenacious and energetic climate warriors that we will support globally,” said Tien Nguyen, Founding Partner of Earth VC.

Also Read: ‘Climate tech: SEA needs more time to improve startup quality, attract capital’, says Earth Venture Capital’s Tien Nguyen

Originally a spin-off from an A*STAR and University of Illinois research institute, Ampotech uses the internet of things and edge computing technology to help energy, operations, and facilities managers improve the performance of their buildings.

The proprietary AmpoHub device becomes the brain of an electrical panel, logging usage data and detecting anomalies for specific equipment like air conditioners and motors. The data are transmitted securely to AmpoCloud over a WiFi network, where they can be analysed, downloaded, or shared via API.

In 2019, the startup raised S$1 million in seed funding to bring its building energy management solutions to market in Singapore and India.

Ampotech currently counts leading energy companies such as Sunseap as clients.

“With the support and resources from Earth VC and KSL Maritime Ventures, we are excited to expand into Vietnam and pursue energy management and sustainability opportunities within The Kuok Group’s real estate and marine businesses,” said Ampotech CEO and Co-Founder William Temple.

Ampotech expects to raise its Series A round in 2023 and is in preliminary discussions with potential investors.

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As hackers become bold and technology advances, the Southeast Asia business community will need to ramp up their cyber defences or face severe consequences. This means moving cyber expertise from the IT back office to the top floor.

Southeast Asia businesses are on a cyber knife edge. For the last few years, a well-trained cyber army has mounted a torrent of attacks causing unsurpassable devastation to businesses’ operations – and their bottom lines. Given the unstoppable rate of cyber breaches and attacks, the only solution is for business leaders to take decisive action, implementing stringent cyber measures from the boardroom to the warehouse.

This fact illustrates the need for decisive leadership: despite Southeast Asia’s apparent cyber vulnerability, the wider Asia Pacific market is expected to witness the highest growth of cyber security expenditure between 2022 and 2031. It is clearly more than just a technology problem.

An elevated risk

The first step in improving Southeast Asia’s security position is understanding what constitutes an appealing target. Historically, cyber security was simply a case of protecting networks and devices from malicious codes and viruses created by a handful of amateur hackers.

Also Read: Indonesia’s antivirus reliance: A cybersecurity blindspot

However, today, attack technology is far more advanced, and the attackers may be anything from organised criminal gangs to state-sponsored threat actors. Moreover, Southeast Asia’s chief information security officers (CISOs) and IT managers are dealing with multiple attack surfaces, spanning mobility, the internet of things (IoT), software-as-a-service and the cloud, and a host of threats ranging from low-level phishing to full-scale ransomware attacks.

Thanks to the emergence of crypto-currencies, cybercriminals are finding it easier to carry out large-scale attacks such as ransomware, in which attackers use malware to hold an organisation’s data in exchange for a ransom.

According to a recent study, 67 per cent of companies in Southeast Asia reported they were victims of ransomware attacks. Operational technology (OT) has also become increasingly threatened. An emerging cyber threat weaponises programmable logic controllers (PLCs) to infiltrate OT and enterprise networks.

And finally, social media platforms have become an elevated risk as bots, spam accounts, and phishing scammers look to exploit human and business vulnerabilities.

The prevalence of bots is concerning due to their ability to sow discord and build mistrust amongst organisational stakeholders. They also pose a gateway to financial scams and can lead to employees compromising important information.

Across the world, bots and spam accounts account for 77 per cent of online security and fraud incidents. Bots’ capabilities are significantly greater than humans’ due to their automation and the absence of human error.

All of these issues can be attributed to several factors: ageing infrastructure, poorly-designed architectures, application vulnerabilities and physical device infiltration. However, human error is the primary cause of most data breaches and cyber-attacks.

According to an IBM report, 95 per cent of cyber security breaches are primarily caused by human mistakes, costing US$3.3 billion. A single, reckless human error can effectively undo investment in an extensive stack of sophisticated cybersecurity technology.

These incidents often stem from a lack of cyber training and poor awareness of the various attack methods. In addition, the post-COVID-19 shift to remote and hybrid working has made monitoring employees and their use of company technology more challenging.

Also Read: Safeguarding digital assets through cybersecurity innovations

The most critical factor is a business culture built on cyber complacency. If senior executives ignore or dismiss the cyber threat, then there is no impetus for employees to care.

Review your resiliency

Naturally, given the potential repercussions of human error, any organisation’s first line of defence is boosting staff awareness of cyber threats. The Singapore Police Force’s (SPF) recent guidelines on types of crimes and online harm are a good place to start.

CISOs and IT managers often then follow this up with regular communication on circulating phishing scams and technological trends.

Consistent education for employees is key to building resilience. Employees who are well-versed in their company’s IT stack are less likely to be exploited by cyber threat actors.

Crucially, organisations should ensure they have robust cyber security policies in place that are driven from the top down. Business leaders and boards that communicate regularly with CISOs and IT chiefs are more likely to be well-defended against current cyber attacks.

Business leaders may need to review their internal systems and policies to achieve this resiliency. They may be required to upgrade legacy technology stacks, implement privileged access management (PAM) and Zero-Trust procedures and consider investing in a 24/7 security operations centre, either through their cyber security vendor or a managed security services provider (MSSP).

Whatever the roadmap, a business’ leadership should be at the forefront, thereby ensuring a healthy cyber culture across the entire organisation.

Of course, adopting this culture is easier said than done and necessitates both time and investment. For small-to-medium businesses, both costs and resources remain a constant pressure. Meanwhile, multiple silos and overlaying IT stacks at the enterprise level can complicate the issue.

Nevertheless, business leaders willing to listen to and work with cybersecurity experts will find it easier to align their security measures with their business strategies. Together, they can formulate financial plans incorporating cyber security costs while still achieving their KPIs and objectives.

Once the Southeast Asian business community better understands cyber security’s benefits on long-term business health, investment in this area will no longer be regarded as a cost but a necessity. The tools are already there: leaders and security experts need to bring them together.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

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As the world enters the digital economy powered by Industry 4.0, digital transformation has reshaped the business landscape, increasing the degree of competition and leaving businesses which fail to embrace digital technologies at a huge disadvantage.

At the core of the digital transformation process is data management, the process of collecting, storing, and extracting valuable insights from the vast amount of data. To be specific, big data analysis can help businesses make strategic and data-driven decisions, enhance customer relationship management by uncovering consumer behavioural patterns and preferences, and eventually boost business performance and profitability.

In addition, big data also helps create new products and services by studying gaps in the market and understanding what consumers want, enabling businesses to tap into uncharted waters and identify business opportunities that were once deemed impossible. But big data analysis alone is not enough. In order to harness the full potential of data, we must ensure that insight and action from such information are rendered as swiftly as possible so that it can be used when it is at its most valuable: right now.

The limitations of traditional batch data processing systems

With an enormous amount of data generated within the digitally connected world, it is critical to process data in a timely manner to ensure effective decisions.

Traditionally, data is handled in a step-by-step workflow with raw data being collected, classified, usually stored in some database or storage system and then transformed, and analysed in iteration, before being presented in a manner for easy interpretation. On one hand, the traditional batch processing approach can facilitate periodic data transformation, logically extract valuable insights from the data, and inspire additional interactive data exploration to optimise the analytical process. On the other hand, one fundamental disadvantage of batch processing is the delay between data collection and data analysis, making insights generated from the data less relevant as time goes on.

Also read: Grooming local fintech talent at Airwallex

Despite the best efforts to minimise the waiting duration for batch processing, systems relying on this kind of data analytic process still suffer from inconsistencies and they might miss the golden opportunities for action that are presented by analysing data in real-time. Moreover, in many cases, users require such real-time processing capabilities to make decisions and respond to critical issues in a matter of seconds or even milliseconds such as detecting patterns, addressing inconsistencies or preventing financial fraud, and so on.

In these situations, processing data in real-time (otherwise referred to as ‘stream processing’) proves to be more beneficial since it allows data to be processed, transformed and analysed immediately upon arrival, creating real-time insights and solutions to challenges and setbacks at the time of event occurrence. 

How Aiven’s Apache Kafka and its open-source streaming ecosystem enable businesses to connect and optimise their streaming data

Serving the mission of facilitating the experience for developers and perceiving the increasing need for real-time or event-driven applications (applications powered by the processing of events in real-time), Aiven, the open-source cloud data platform, launched the first and fully open-source event streaming ecosystem for Apache Kafka to help companies optimise their data streaming in near real-time.

As a data hub and event streaming platform, Apache Kafka delivers answers right at the moment when the question arises, moving companies from waiting to acting. This is becoming increasingly important in today’s digital world, where more and more companies are employing microservice architectures. In this aspect, Apache Kafka can simplify communication between services in the organisation, publishing their events as they happen, and making them available to any (or all) microservices that are dependent on them. 

Also read: How should you engage customers in a rapidly changing market?

Adopting Aiven’s Apache Kafka and its open-source streaming ecosystem can offer businesses several advantages. In the first place, using Apache Kafka as-a-service, businesses can easily set up clusters, deploy data streaming services, migrate their data between cloud regions for better data resiliency, and bring products and services to market faster, without worrying about managing the underlying data infrastructure.

One of the unique features of Aiven’s Apache Kafka is its ability to flexibly increase or decrease the computing power and storage of users as they scale up or scale down their operations. Additionally, with the use of a fully-managed service like Aiven’s Kafka, you benefit from Aiven’s enterprise uptime and SLA of 99.99% which ensures continuous operation of the customers’ activities. More importantly, by subscribing to Aiven’s Apache Kafka, businesses can also gain access to its comprehensive ecosystem and supporting services such as Aiven for Apache KafkaConnectⓇ, Aiven for Apache Kafka MirrorMarker2Ⓡ, and more supporting tools and services.

Aiven’s Apache Kafka customers’ success stories

Aiven for Apache Kafka is suitable for businesses of all shapes and sizes, ranging from startups to established enterprises that have a need for an integrated, open source-based data streaming environment that can easily scale and handle real-time data feeds. The product can be set up easily, connecting to the client’s tech stack via over 30 connectors and integrating to end users’ preferred tooling via APIs, the CLI client, and Terraform provider, among others. As such, the product is currently being enjoyed by a slew of high-profile companies.

Wolt, a Helsinki-based commerce company, has decided to build its real-time data infrastructure based on Aiven for Apache Kafka as the core technology to build its digital solutions, achieving significant savings which were then used towards improving its own products and services. Particularly, for Wolt, Aiven’s Kafka acts as a message bus to communicate between services and ingest data from different databases. Wolt complimented Aiven for Apache Kafka on its ease of use, scalability, and its superior tooling support and interoperability.

Also read: Building resilience through the SAFE STEPS D-Tech Awards

Another long-term customer of the Apache Kafka service provided by Aiven is logistics business, Swift Solutions, which offers delivery and order fulfilment services in Indonesia. Swift Solutions has applied multiple services from Aiven’s product portfolio including its Apache Kafka service along with Aiven for MySQL and Aiven for RedisⓇ. The company has also adopted the Aiven Kubernetes Operator since its early development stage.

Moreover, GoTo Financial, a service within the tech giant Gojek, also noted the benefits of partnering with Aiven, particularly how the platform provided support for GoTo Financial in both its early attempts to separate Kafka instances for each product and function and its subsequent efforts to integrate every service into one single consolidated system with almost zero risk.

These are only some of the notable examples of businesses ranging from e-commerce, retail, to logistics, to fintech — all made better with the help of Aiven.

Interested in finding out more about how the different tools and technologies of Aiven’s ecosystem for Apache Kafka can help address your business challenges? Here’s a list of resources to get you started: 

• An introduction to Apache Kafka
• Aiven for Event Streaming
• Managed Apache Kafka by Aiven

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

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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Mapping technology has become an integral part of various products and services, proving its usefulness in both web-based and mobile applications. For example, ride-hailing services such as Uber, Grab, or e-commerce applications such as Shopee, among others, rely heavily on mapping technology to provide on-demand services, calculating accurate times of arrival, optimising transportation routes, and ensuring accurate traffic information for references.

Nevertheless, the current mapping and addressing solutions lack accuracy, context, and in many regions, content. In fact, 95% of drivers have reported problems with inaccurate mapping, and around 71% of drivers had to spend an average 4-11 minutes to locate the right drop-off location. Consequently, it was estimated that around $2.5 billion could have been saved annually if it weren’t for wrong mapping information.

Additionally, within our increasingly interconnected world especially in terms of integrated supply chain and logistics, one wrong address can lead to delay and disruption at multiple touchpoints, increasing costs of transportation and loss. 

The growing trend toward hyperlocal delivery and associated services

The trend towards hyperlocal delivery has been in the making for the past few years, reshaping delivery and logistics services.

The availability of location-based search enables customers to look for products and services from nearby providers, reducing time and cost of transportation, and allowing them to enjoy fresh local produce. Moreover, retailers can also benefit from minimising delivery efforts, and tailoring their services better to serve customers’ specific demands and preferences with location-based insights.

Also read: Data streaming in real-time made possible with Aiven’s Apache KafkaⓇ

Additionally, following the sudden emergence of the COVID-19 pandemic, consumers have also become increasingly attuned to online shopping as a means of adapting to the new normal of travel restrictions. All of these things are happening alongside the fast development of digital infrastructure, disruptive technologies including artificial intelligence and machine learning, and the high rate of adoption of mobile devices, especially smartphones. All of these things have come together to make hyperlocal delivery a reality.

As such, the global hyperlocal service market is predicted to post a strong compound annual growth rate of 12.5% over the period of 2022 – 2028 to reach an estimated value of $3730 billion.  

Limitations of existing mapping technology

Looking into the future of mapping technology and considering the robust growth in the demand for hyperlocal delivery, one-map-fits-all solutions no longer work in today’s digital economy. Instead, maps of tomorrow have to be hyperlocal and contextual, providing dynamic content and more precise and detailed information regarding each location.

Moreover, current mapping and addressing have been primarily concentrated on urban areas, and there is still a huge lack of mapping data when it comes to rural areas, venues, and indoor spaces. In addition, another weakness of current mapping technologies is that location data and changes are not updated in real-time. This presents a huge disadvantage for delivery services, especially for places in emerging and fast-developing economies like Southeast Asia where location data is dynamic — changing every day, every hour, and sometimes every minute. Hence, companies currently have to deal with data that does not reflect real-world context, or worse, that displays a distorted picture of reality.

Also read: Grooming local fintech talent at Airwallex

Companies do not own their location data. The location data that companies generate are added to the mapping provider’s database, making it difficult for companies to access these data at a later time. Logistics companies also do not have control and autonomy over additional location-data knowledge and insights gathered by their fleet workers that could add a competitive edge. This is a problem many businesses face today.

How UNL redefines the future of next-generation hyperlocal mapping technology

Recognising the gap in the market, UNL introduces Virtual Private Maps (VPMs) that enabled businesses to create their own private maps with just one click and organise location data and services. Following a modular, data-agnostic design, VPMs can connect multiple data sources, allowing businesses to benefit from a map that is truly contextual to their business case. 

“When it comes to infrastructure, addressing systems and local standards, each market comes with its unique challenges. Achieving a hyperlocal level of accuracy and relevance of maps and location data can be too resource, asset, tech and labour heavy for a single mapping provider to guarantee. The only way to do that is to make maps distributed, decentralised and hyperlocal. Establishing collaboration of all local stakeholders to contribute to the quality and relevance of these maps,” explained Xander van der Heijden, Founder and CEO of UNL.

What makes VPMs a powerful tool for businesses is the combination of data ownership and the ability to publish location and point-of-interest data updates in real-time. With VPMs, businesses can securely bring their own data and keep ownership and control within their organisation. Additionally, by connecting 3rd party data sources at various geographical levels and setting up continuous feedback loops, companies are able to maintain a single source of truth that represents the real world.

Also read: How should you engage customers in a rapidly changing market?

“Data autonomy and ownership have been core to UNL’s philosophy and values since day-1. Any data our clients bring remains under their control and ownership, and they can manage data access rights,” shared Xander van der Heijden.

UNL VPM data can be seamlessly integrated with all UNL location APIs, SDKs and connected applications, available via UNL’s do-it-yourself Micro-location Platform. UNL provides a suite of powerful location services, including plug-and-play mapping, geocoding, search, routing and data management APIs, SDKs and plug-ins.  

By creating their own Virtual Private Maps, businesses around the world can power their location-based services and applications such as e-commerce, delivery, smart city, and other autonomous solutions.

UNL Virtual Private Maps also come with a particularly resourceful tool: the UNL Studio. With an interactive visual design interface for users to visualise, manage, and update maps and location data, UNL Studio enables users to seamlessly interact with various location intelligence tools and data sources, edit map style, and visualise custom/business data — with no coding required.

In the near future, companies are also able to either keep their data private or they also have the option to open up their data and integrated applications to the marketplace and tap into opportunities to monetise their data.

In sum, thanks to UNL’s Virtual Private Maps, businesses no longer have to contend with the limitations of one-map-fits-all solutions. UNL’s VPM enables users to create private maps that scale alongside their business, control location data quality and ownership, and maintain the relevance of their private maps for reliable usage and monetisation.

For more information, visit https://unl.global.

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

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2023 will be a year of fresh restarts and opportunities amid uncertainties. With a myriad of expected changes and global trickle effects coming our way during this economic cycle, this year will see the need for an even more nimble business strategy.

With that comes the greater calling for a complementary communications approach. Compared to Multinational Corporations (MNCs), which are generally already well-versed in communications due to their industry experience and resource, identifying a strong communications approach this year will be key for start-ups and Small and Medium Enterprises (SMEs).

According to EY’s latest CEO Outlook Survey, half of Asia-Pacific businesses (surveyed companies’ annual global revenues ranged from around US$500 million to more than US$5 billion) across key sectors like manufacturing, finance, health sciences and technology are planning to pursue an acquisition this year.

Also Read: Is the metaverse the future of social media?

With these businesses’ scale, they are aware that now is the opportune moment to best capture market share and even edge out SMEs or early-stage companies.

SMEs: Small in scale, big in influence

However, scale is not everything, especially for industry innovators, regardless of their stage of business, which can effectively tap into strategic communications for PR. Yet, in today’s communications context, it is no longer the case of ‘any PR is good PR’ – and SMEs need to go beyond that to achieve business success.

But what does it mean to have a strategic communications approach? Essentially, this means that SMEs take a proactive stance instead of simply reacting to events or issues by implementing a well-planned approach to communicate through various platforms. In doing so, they can close the gap with larger competitors. Usually the go-to for industry thought leadership.

Proactively looking to share valuable insights and expertise with its audience provides valuable content. It demonstrates expertise for SMEs to establish themselves as leaders in their field and influence industry narratives while growing brand awareness and attracting new customers.

Planning your next steps

As the saying goes, ‘Fail to plan, plan to fail’. To kickstart a strategic communications plan, there are a few key steps:

• Define your objectives: What do you want to achieve with your communication efforts? Objectives can include increasing brand awareness, driving sales, improving customer satisfaction, raising funds, attracting investment interest and more. It is important to lay out these objectives specifically as they will impact the subsequent considerations.
• Identify your target audience: Who are you trying to reach through your communications? Understanding your audience will help you determine the most effective channels and tactics.
• Determine your key messages: What do you want your audience to know, feel, or do as a result of your PR efforts? Clearly defining your key messages will help ensure that your communications are consistent and on-brand.
• Using the right platforms: Which platforms will most effectively reach and engage your target audience to deliver your key messages? This could include traditional media outlets, social media, and speaking at events.

Also Read: How myFirst aims to provide a safer social media experience for children

• Identifying the right content: One way to ensure businesses stay relevant and engage their audience is by creating interesting and relevant content. This can include blog posts, social media posts, press releases, and other communication materials. It is important to regularly assess the needs and interests of the target audience and to create content that resonates with them.
• Setting a timeline: When will communications outreach take place? What are the relevant occasions you can angle your communications around, and when is the campaign slated to end? Having a clear timeline is important to stay organised and on track.
• Metrics and analytics: Regularly measure and analyse the results of your outreach to determine what’s working and what isn’t – from share of voice (SOV) to key message pull-through and engagement. These metrics will help you fine-tune your strategy and make adjustments as needed.

Tapping on expertise

Gone are the days where PR and communications agencies purely focused on securing media coverage to grow their clients’ brand visibility without an aim. In the current economic climate, PR agencies must truly understand the respective sectors of their clients and the subject matter for information about the brand to be represented according to their business objectives.

With the right steps in place, SMEs who understand the investment into strategic communications will benefit from working with agencies to help identify and actualise their next steps.

Furthermore, with global instabilities abounding, SMEs not familiar with crises benefit from having a trusted partner manage and mitigate these situations. In today’s digital age, it’s more important than ever to have a plan for handling negative publicity or reputation management.

Setting the right communications goals will enable SMEs to find their voices while building and maintaining positive relationships with stakeholders. This will lead to increased brand awareness and loyalty from their target groups, which will be crucial in their stage of business in today’s economy.

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The post Beyond PR: Tackling 2023 with strategic communications for SMEs appeared first on e27.

As the dreary funding winter continues to soar, at e27, we are kickstarting a new article series called: Line of Hire to understand an organisation’s culture and hiring philosophies to empower tech workers with the right growth tools and enable business owners to attract talent.

Farida Charania is the CEO and part of the founding team at Empauwer, which has created an AI-driven platform that helps companies engage and employ neurodiverse talents to cultivate a more inclusive workplace.

Charania is an economist by education, a banker by profession, and an entrepreneur by passion. She has lived and worked in Asia, Europe, and the UK. 

As the CEO of Empauwer, her mission is to build an inclusive workplace for every employee.

Charania talks about her company’s culture and hiring philosophies in this candid interview.

What personality traits/qualities do you look for in potential employees?

We seek candidates with good problem-solving abilities, a positive outlook, and the capacity to function well in a team. We also place a high priority on people with excellent communication skills and flexibility. For us, attitude is also critical, being a startup. We look for a can-do attitude in people we bring on board.

How do they fit into your company culture? Tell us a little more about your culture.

Innovation, teamwork, and open communication are valued in our organisational culture. We help our people reach their maximum potential by promoting a positive and welcoming workplace.

How do you foster transparency and encourage achievement in the workplace?

At Empauwer, we encourage openness by encouraging open communication and delivering frequent updates on the results and objectives of the organisation. Additionally, we support achievement by honouring and rewarding outstanding performance and offering chances for professional advancement.

Do you have a mental health policy? What does that look like?

A mental health policy is in place, yes. And because our crew is so small, it is essential. This entails enabling flexible work schedules and access to employee help programmes and resources to promote mental health.

Also Read: A tech worker should be all about improving customer experience: Kim Nguyen of Recruitery

WFH or WFO, or hybrid?

Our policy is hybrid. Empauwer encourages employees to work from home and the office for convenience and productivity.

How should a tech worker prepare for the funding winter?

An IT professional can prepare for the funding winter by broadening their skill set, developing a solid network, and following market trends. It’s crucial to have a sound financial strategy in place as well.

How do you measure the performance of your employees?

We measure the performance of our employees through a combination of regular performance evaluations, goal-setting, and feedback.

Will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty when hiring?

We place great importance on honesty in all of our workers. Our firm’s success depends on various factors, including skill, but honesty and integrity are crucial traits.

Do you encourage ‘intrapreneurship’ in your organisation?

Yes, we support intrapreneurship by allowing employees to assume leadership roles and lead change within the company.

How do you support upskilling for your employees?

We encourage our staff to attend conferences and workshops and training and development programs to support their upskilling. We also allow staff members to engage in creative initiatives and take on challenging responsibilities.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Eleos Labs, a company that focuses on providing anti-fraud solutions for Web3 assets, today announced its formation with notable security veterans in leadership and advisory positions. The company is set to launch a suite of protection products that help enterprises protect their users against Web3 threats.

According to a statement by the company, Dr Gennady “Ari” Medvinsky will serve as the Technical Advisor, having spent the last 20 years leading security teams at Google, Grab, and Microsoft. Wui Ngiap Foo, previously Head of Technology & Integrity at Grab, will join as Group Advisor.

They are also joined by Dr Ben Livshits as Scientific Advisor, former CEO of Zilliqa Research and Chief Scientist of Brave Browser.

Eleos Labs is building a resilient anti-theft system based on enterprise cybersecurity tools to ensure a safer crypto ecosystem. Its security tools are bolstered by ongoing partnerships with government agencies, blockchain projects, and wallet providers.

Called FailSafe, the solution is built based on the need to have increased regulation and consumer protection in the space, with the recent collapse of well-known crypto institutions.

Also Read: Indonesia’s antivirus reliance: A cybersecurity blindspot

In an email interview with e27, Dr Gennady “Ari” Medvinsky explains more details about the product and what is coming next for the company. The following is an edited excerpt of the interview.

Can you tell us more about your solutions and their advantages?
Firstly, Failsafe protects platforms and users by detecting the safety level of smart contracts and wallets – this is the first line of defense against theft and fraud because we can determine the risk level of interaction.

Secondly, in the event of an attack, we ensure optimal protection by successfully rejecting malicious transactions and minimising total loss by keeping the majority of users’ assets in a high-security vault (with enterprise-grade and best-in-class dual-cloud mpc key management solutions).

What is the specific problem that it aims to tackle?
US$4 billion in crypto was stolen in 2022. The rise in theft is a big prohibitor to Web3 adoption, and our mission is to ensure a safer crypto ecosystem by helping platforms and users access enterprise-grade security practices.

What is the product development process for this product?
We’re currently developing all FailSafe products in conjunction with government agencies, wallets, exchanges, and bridges through a series of pilot projects.

What about the profile of your targeted users? What is your user acquisition strategy?
Eleos Labs is enterprise-focused, specifically targeting wallet providers, blockchain protocols, and MNCs exploring a safe entry into Web3. We’re currently progressing through the pilot programme with partners, after which we will be rolling out the product suite to a wider customer base in the coming months. Market demand has been strong.

Also Read: Safeguarding digital assets through cybersecurity innovations

How big is your team?
Spearheaded by Technical Advisor Ari Medvinsky and General Manager Aneirin Flynn, the 10-member team at Eleos Labs has expertise across cybersecurity and data science.

Have your company secured external funding from other sources?
While there have been VC interest in funding the new enterprise endeavours within Eleos Labs, the priority for the team remains focused on the successful execution of the ongoing pilot projects and product development. We however continue entertaining new investor interest for like-minded partners who share our mission.

What is your major plan for 2023?
2023 is an exciting year given that Web3 adoption continues to grow and platforms are increasingly cognizant about the security of their assets. We will be rolling out the FailSafe product suite after several successful pilot projects – most likely in Q2.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

Image Credit: Eleos Labs

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