Nusantaranews, KUALA LUMPUR, Malaysia, June 18, 2024 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), through its subsidiary, Credilab Sdn. Bhd., today unveiled its strategic collaboration with Treasure Global Inc (“TGL”) to enhance TGL’s e-commerce platform, ZCITY App, into an advanced AI-driven Super App (“ZCITY Super App”). In this strategic partnership, VCIG will leverage TGL’s extensive user base of approximately 3 million users, gaining immediate market access to expand its comprehensive suite of financial services.
As fintech assumes a pivotal role in today’s digital economy, its impact on e-commerce is indispensable, offering sophisticated tools and platforms that seamlessly streamline transactions. In this new partnership, Credilab is bringing its cutting-edge proprietary fintech and microfinancing capabilities and leveraging VCIG’s collaboration with Cogia GmbH, offering industry-leading secured messaging technology, which converges fintech and e-commerce. By incorporating secured messaging, a digital wallet, and AI-driven microfinancing features into TGL’s ZCITY Super App, this integration promises a revolutionary unified platform that elevates every aspect of digital transactions, delivering a seamless, secure, and highly efficient user experience.
This partnership marks a significant advancement towards enhancing financial inclusion across Southeast Asia by leveraging cutting-edge technology to deliver seamless financial services benefiting both companies and their users. The initial phase of this initiative will launch in Malaysia, which has a population of more than 33 million. This strategic decision grants VCI Global swift access to a diverse and dynamic user base, accelerating the Company’s full range of financial services and reinforcing its strategic position in the Southeast Asia fintech and e-commerce landscape.
“By leveraging TGL’s expansive user base of 3 million, this strategic partnership not only expands our geographical reach but also accelerates our deployment of innovative solutions, promising long-term value for our shareholders,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
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