Leading Fintech Innovators for Migrants in Malaysia
About
Applicant name: Valyou Sdn Bhd
Innovation Name: Valyou Mobile Wallet
Innovation Type: Service
Website: http://www.valyou.com.my
Mission: Leading Fintech Innovators for Migrants in Malaysia
Innovation Description: We aim to promote greater financial inclusion making international remittance more accessible and readily available at a lower cost to 1.7 million migrant workers in Malaysia. With Valyou Mobile Wallet app, users can send money overseas, perform international and local airtime reload, pay bills, peer to peer transfers and more directly from their smartphone, at any time, from anywhere
These migrant communities in Malaysia are largely excluded from the mainstream financial services normally offered by retail banks due to their unreachable locations, limited operating hours and expensive banking fees and charges.
By providing end-to-end digital mobile financial solutions, we are able to offer international remittance and other related products to migrant communities in Malaysia at a lower cost and with a higher reliability.
Status of Innovation: In-market
Innovation Active Since: 1 November 2016
Applicant Type: Public Company
Headquarter City: Kuala Lumpur
Headquarter Country: Malaysia
Year Founded: 2016
Main Category
Main Category Choice: Technology Innovation
Why do you think you should win this category?:
The Valyou Mobile wallet offers a mobile agnostic technology, supporting 7 languages, multiple corridors and value-added services such as International Remittance, Domestic and International Air Time Top Up, Peer to peer transfers, bill payment and more
Third parties can easily connect to our open API based platform, allowing for ease in connecting with banks, financial service providers and other fintechs. The Valyou Mobile Wallet has successfully integrated to provide real time money transfers and air time top up to countries such as Indonesia, Bangladesh, Nepal, Pakistan, Philippines, India, Vietnam, China and more.
This real time integration, provides for instant transfers despite multiple partners involved in the last mile delivery. Real time monitoring solution to monitor and trigger any suspicious activities on the wallet.
We maintain high standards of security protection for our customers’ data, working with leading and commercially proven security hardware and software products; network and application infrastructure.
Secondary Category
Secondary Category Choice: End-user Experience
Why do you think you should win this category?
Our e-wallet service has changed the way International Remittance is done in Malaysia. By providing end-to-end digital mobile financial solutions, we are able to offer international remittance, local and international air time top up, bill payment, peer to peer transfers and other related products to migrant communities in Malaysia at a lower cost and with a higher reliability.
We were the first app to launch International Remittance service to Indonesia, Nepal, Bangladesh, India, Pakistan, Philippines, Vietnam, and China. We are also the only app that has introduced direct Wallet to Wallet transfers to EasyPaisa in Pakistan and bKash in Bangladesh.
Valyou currently offers Cash In Cash Out services at over 2K migrant centric areas, which addresses 80% of where the migrant population live and work. With this service, it costs our customers less time, money and effort to send money to their families back home. About 12% of the migrant population has currently experienced our services and our ambition is to double it by December 2018.
Team Members
Full Name: Jasbir Kaur
Role: Head of Product and Marketing
Linkedin: http://www.linkedin.com/in/jasbirbaldew
Full Name: Fahad Rehman
Role: Head of IT
Full Name: Latisha Anthony
Full Name: Khairil Zhafri
Supporting Links
Valyou Company Profile: https://cdn.valyoumalaysia.com/20180330152607/Company-Profile_Remtech-Awards.pdf
Valyou Media Centre: https://www.valyou.com.my/media
Valyou Facebook Page: http://www.facebook.com/valyoumalaysia
Entry Representative
Full Name: Jasbir Kaur
Role: Head of Product and Marketing
