Fintech firm Juris Technologies (JurisTech) has acquired personal finance company Intelligent Money Sdn Bhd (iMoney) in an effort to develop end-to-end solutions for its enterprise clients.
JurisTech, which was founded in 1997, specialises in providing software solutions for banks, financial institutions and telecommunications companies domestically and in the region.
“With the world heading towards digital banking, banking is no longer just a transactional business but also an end-to-end experience for consumers, starting from education to holistic user experience,” says See Wai Hun, a co-founder and the chief executive officer (CEO) of JurisTech.
Following the acquisition, JurisTech and iMoney intend to utilise artificial intelligence (AI) for marketing, onboarding consumers digitally and providing immediate decisioning.
“It has been an incredible and satisfying journey in the past eight years, empowering consumers to make intelligent decisions on money matters. We are proud that our team has grown and expanded our expertise to help our partners in the banking and finance industry to collaboratively educate consumers in personal finance,” says Lee Ching Wei, the founder of iMoney.
Lee adds that with Juristech’s technology capability, iMoney would be able to provide impactful content and services.
Apart from one-stop learning for personal finance guidance, the platform also serves some of the largest banks, insurance companies, takaful operators and government bodies to reach consumers and educate them on money management and financial products.
“We realise our consumers deserve to understand and learn more about any financial products before applying or investing in them. By offering financial marketing services to our partners, we are able to make a bigger impact in educating Malaysians on banking and financial products,” says Lee.
According to Digital News Asia, the acquisition comes after Australian Securities Exchange-listed iSelect Ltd sold its 84.3% stake back to Lee on Aug 3. iSelect had gradually acquired a majority stake in iMoney starting with US$3.1 million in 2017.
Edited by Jennifer Jacobs