- aims to develop modern IDs for the 680 million people who live in Southeast Asia.
- NIST ranks in the top 25 worldwide for facial recognition corresponding accuracy according to the US-based NIST.
Wise AI, a Malay company specialising in eKYC and Digital Identity options, said it has raised an eight-figure Sequence A money, without disclosing the number. The funding round was led by Malaysia Technology Development Corporation ( MTDC ), VentureTech SBI Sdn Bhd (VT-SBI ) and Sunway Group’s Sun SEA Capital. Wise AI expects the agreement, which was launched in September 2018, to further its goal of developing electric names for the 680 million people in Southeast Asia.
Sun SEA Capital is a duplicate trader, having invested in an earlier round along with , PH Capital from Hong Kong.
MTDC said” With this strategic investment from MTDC, we are excited to support Wise AI in launching cutting-edge e-KYC ( Know Your Customer ) solutions across new markets, both locally and internationally. With its cutting-edge online identity services, Wise AI stands at the vanguard of this trend. AI technology is changing business everywhere. This collaboration demonstrates our commitment to advancing technology development and placing Malaysia as a leader in AI development.
We think that the development or program of AI is still in its early stages in Southeast Asia, which raises the possibility of substantial business development, according to Mohd Jerry Tan, Principal of VT-SBI. The practical knowledge its Artificial technology is bringing made it more logical for VT-SBI to make an investment in the owner’s inspiring vision more meaningful.
According to Raymond Hor, Director of Sunway iLabs Ventures,” Wise AI has placed Malaysia at the vanguard of the global AI field. Our commitment to proprietary AI technologies and intellectual property was recognized when we became the first and only Malaysian company to receive ISO30107 and the National Institute of Standards and Technology ( NIST ) of the United States for our superior deep-tech capabilities and defense against phishing identity deepfakes. It ranks in the major 25 worldwide, in accordance with NIST, for its visual recognition matching accuracy.
David Lim, the founder and CEO of WISE AI, is convinced that the money will help bring Wise AI to new levels thanks to the assistance of seasoned colleagues. ” Every deal begins with personality, and the center of the online business revolves around one thing – your company’s identification. There has n’t yet been a dominant player in Southeast Asia as this industry grows. We envision becoming this country’s leading eKYC and online personality service. We want to expand our options by working with partners in each nation to better serve their needs, he said. Wise AI is working with partners and vendors from Thailand, Indonesia, Philippines, Vietnam, and Brunei. It , did then further improve its , existence in these countries.
Wise began expanding its R&, D capabilities from 2020, going into Generative AI, Machine Learning, and Large Language Models ( LLM) to enhance its solutions and services.
Its amazing AI systems verify the authenticity of government-issued Authentication, compare them against their physical biometrics, and identify deepfakes. This technology gives the government and the private sector the assurance they need to properly and mildly accredit customers.
The Indonesian government’s AI Governance and Ethics model was chosen based on Wise AI as the case for its national success. In this case, Wise AI demonstrated the position of its eKYC answer with seven principles of AI Ethics, including justice, responsibilities, equality, resilience, protection, joy, and transparency. For example, under the transparency process, Wise AI ensures evidence is provided when an AI option is claimed to be custom and never using third-party Artificial systems. This is done to protect customers from false representations made by buyers.  ,
