Advanceigroup

Advance Intelligence Group is a Singapore-headquartered artificial intelligence and big data company founded in 2016, operating across Southeast Asia, India and Greater China. It formally introduced Advance Intelligence Group as the corporate parent brand in February 2021, consolidating businesses that had previously operated primarily under the ADVANCE.AI name. The group is organised around two main business lines: an enterprise business and a consumer business.

The enterprise business, ADVANCE.AI, supplies AI-based products such as digital identity verification, video eKYC, facial recognition and OCR, alongside risk products including alternative credit scoring, anti-fraud and anti-identity-theft solutions, targeting banking and financial services, retail and e-commerce clients. A second enterprise offering, Genie, is a cloud-based enterprise resource planning and omni-channel management platform for SMEs that integrates with major e-commerce platforms in Indonesia. The consumer business, Atome Financial, provides buy now, pay later services under the Atome brand and digital lending through Kredit Pintar in Indonesia.

Business model

The group monetises through two segments: cloud-based enterprise software and risk/identity APIs sold to financial institutions, retailers and e-commerce companies (ADVANCE.AI and the Genie ERP/omni-channel platform), and consumer credit products delivered through Atome buy now, pay later at partner merchants and Kredit Pintar digital lending, funded in part by credit facilities from financial institutions.

Revenue derives from enterprise software and API-based services (identity verification, risk scoring, ERP/omni-channel management) and from consumer credit products including buy now, pay later and digital lending.

Traction

ADVANCE.AI's API call volume for its cloud software more than doubled in 2020 to almost 800 million calls. Genie supported more than 30,000 SMEs and processed nearly 30 million e-commerce orders within less than a year. Atome Financial had served over 5 million users and cumulatively extended more than US$1 billion of credit, with over $200 million in funding and credit facilities from financial institutions; Kredit Pintar had over 10 million downloads and 1.5 million reviews on Google Play with a 4.8-star average rating.