International award winning, post-revenue FinTech with an exceptional local & international growth potential.
- ReGov Technologies is an international award winning, post-revenue FinTech with an exceptional local & international growth potential.
- Our vision is to transform the financial services to become more efficient, transparent and inclusive so that everyone will have easy access to the best financial products and opportunities.
- Our deep expertise in enterprise blockchain, AI, analytics and human-centric design will revolutionise user journey and information architecture of our clients.
- Regov Technologies is led by an experienced team of serial technopreneurs, ex-corporate leaders, IT & financial services experts.
- Our most prominent flagship products are:
- OMNI.iAM is reshaping Fund Management with Enterprise Blockchain;
- OMNI.ID is a blockchain enabled self-sovereign digital identity management and eKYC solution; and
- ReGov's Intelligent Call Handling Assistant (R.I.C.H.A.) is an artificial intelligence (AI) automating customer servicing & lead generation for financial institutions.
- We are the winner of HSBCs Open Innovation Challenge 2019, outperforming 190 global technology companies and HSBC innovation teams.
- Year-to-date gross revenue of RM 1 million and built an estimated book order of RM 12 million with clients in Malaysia and Australia.
- This Equity Crowdfunding (“ECF”) campaign funding will be utilised for research and development and accelerating the expansion of our business.
Today's fund management companies (“FMC”) must overcome regulatory pressure, rising cost, outdated technology & declining fees to remain profitable. They pay on average 5.2 basis points (1 bps = 0.01 %) of their Assets under Management (“AuM”) for outsourcing and supporting the manual middle & back office processes. Among the financial services players, FMCs are the laggards in digital transformation, and have yet to harness the efficiency of digital distribution & servicing channels.
They have to embrace technology to streamline operations and offer a digital-inspired customer experience to remain competitive. Deep tech like distributed ledger technology (“DLT”), machine learning (“ML”) and artificial intelligence (“AI”) offer the potential to provide FMCs with the agility to transform their operating model and engage new customers digitally.
According to the report, “Unlocking Economic Advantage with Blockchain” published by JP Morgan and Oliver Wyman, the use of DLT can result in cost savings of 55%-75% to the fund management industry. This is achieved by reducing the need for manual intervention as well as easing financial and regulatory reporting. Implementing those disruptive technologies looks like a very disruptive & daunting task to FMCs. As a matter of fact, doing so based on existing enterprise software would be a very resource intensive endeavor.
ReGov Technologies is bridging this gap with its future proof blockchain & AI based enterprise grade software. We enable our clients to automate and digitize their end to end processes and lower their costs by 50% to 75%, while widening their reach by creating new digital channels.
OMNI.iAM: PRODUCT SUMMARY
OMNI.iAM is our all-encompassing intelligent asset management platform. It systematically automates & supports all front, middle & back office processes of a fund management company (‘FMC’). Doing away with heaps of paper forms and redundant databases. It is a highly scalable, cloud & enterprise blockchain based, Platform as a Service (“PaaS”) solution. Designed to deliver cost savings by automating commonly outsourced processes, eliminate silo-ed systems, and provide new top-line opportunities by deploying state-of-the-art digital client engagement channels. The latter is especially important for our clients in the new normal area of digital communication and limited face to face interactions..
OMNI.ID is a blockchain based self-sovereign digital identity management and eKYC solution. It helps financial institutions to meet the strictest new data privacy rules, eliminate redundant identity compliance checks, and improve customer experience. It connects and empowers personal identity owners, financial institutions, and trusted parties. It seamlessly integrates with OMNI.iAM as one of its core components.
Key Value Proposition
- Reduce OPEX: Clients servicing fees drop from ~ 5.2 bps to less than 2.5 bps of AuM. Enabling a project ROI < 2.
- Reduce Overhead: Automate manual & paper-based processes and replace poorly integrated legacy applications.
- Increase Sales: Doubles agent productivity and offers digital distribution channels
- Fast Scaling: Cloud based infrastructure that scales as our clients business grows. Built on enterprise grade DLT proven to process up to 3.500 transactions per second.
R.I.C.H.A.: PRODUCT SUMMARY
ReGov's Intelligent Call Handling Assistant is a conversational AI system that automates customer service request fulfillment & lead qualification via a text & voice enabled chatbot. It can be used as part of the OMNI suite or a standalone product to complement an existing contact center operation. R.I.C.H.A. is targeted at financial services and not limited to FMCs only.
Key Value Proposition
- Cost Savings: Contact center managers estimated the introduction of R.I.C.H.A. will reduce their costs by a minimum of 10-35%.
- Service Quality: R.I.C.H.A. eliminates human error! 24/7 with cloud-based scalability and minimum down time!
- Sales Effectiveness: Automates the sales process of pre-qualify sales leads
- Flexibility: Our cloud based infrastructure is scalable. 1 contact today, 500 tomorrow? No problem with R.I.C.H.A.!
As of May year-to-date ReGov Technologies revenue stands at RM 1 million with a secured book order estimated at RM 12 million.
Our solutions solve global industry wide problems which we have proven by our recent expansion to Australia. Therefore ReGov Technology is further pushing for international opportunities. In preparation of this we have placed agents in 14 different countries to explore opportunities and help us confirm product-market fit. We further have signed a partnership agreement with Oracle co-promoting solution & services in South East Asian and the global stage.
Our Malaysian anchor customer is an investment bank backed fund management company headquartered in Kuala Lumpur, Malaysia managing over RM 8.4 billion in assets. Our anchor client in Sydney, Australia is a leading non-bank lending solution provider.
ReGov Technologies has 3 key revenue streams:
- Subscription & Licence Fees
- Customization Service Fees
- Maintenance & Support Fees
The key focus is on recurring revenue from subscription and licencing fees. This revenue stream represents ~ 80 % of our projected revenue.
OMNI: As per common business practice in the fund management industry we charge our recurring fees as a percentage of our customers assets under management (‘AuM’). Therefore we benefit from helping our clients to grow their business. At the same time we leverage our more optimal cost base into pricing ourselves below our main competitors and available outsourced services. This makes it easy for clients to switch to OMNI.iAM realizing a return on their investment within less than 2 years from sustainable cost savings alone.
R.I.C.H.A: Is positioned using a classical Software as a Service (‘SaaS’) model. Our customers pay a fee per every call / contact R.I.C.H.A handles for them. On top of that we are compensated for any customization & system integration work required by the client. This model makes it again easy for the customer to compare the cost of automation with outsourcing and secure a strong business case to implement R.I.C.H.A.
The global fund management industry has RM 381 trillion under management. A 1 % market share for OMNI.iAM would allow ReGov Technologies to enjoy RM 952 million of recurring revenue from licence and subscription fees alone.
In Malaysia, the total assets under management (AUM) stood at 786.25 billion ringgit (as of 2018). A 10 % market share in Malaysia alone would generate RM 18.6 million of recurring revenue from OMNI.iAM
The global contact center market R.I.C.H.A helps to automate is estimated to reach RM 912 billion by 2020.
Our main competitors focus on supporting a subset of functions required by a modern FMC. This forces FMCs to adopt complex, expensive to maintain siloed systems. Alternatively FMCs can custom build their own enterprise solutions. This option is often found to be cost prohibitive.
Our cloud based Platform as a Service ("PaaS") solution is competitively priced with ~ 80% reduction in development costs while retaining the ability to fully customize the solution. Our revenue model includes one time customization fees and recurring asset under management (AuM) based subscription fees. This revenue model will provide us with an attractive recurring revenue stream and aligns well with the budgeting practices of our clients.
We are raising between RM1 million to RM 4 million. The funds raised will go towards R&D as well as used as working capital.
Regov has pre-seed funding of RM 1.98 million provided by founders and early staff in exchange for equity. Subsequently, Regov has raised RM 3.21 million of seed funding via convertible notes to fund R&D and working capital. We wish to raise RM 4 million funding through this campaign.
The company was founded by Datuk Paul Khoo Chuin Yuen and Ramachandran Muniandy. Prior to this, Datuk Paul was a CEO of a Fund Management Company, a Chairman of the largest financial advisory firm in Malaysia and also a former founder of another fintech firm. As for Ram, he has more than 15 years of experience as a technical innovator in blockchain, AI and big data and he is a co-founder and CTO of Asia Mobility.
A combined 130 years of leadership experience in technology and financial services.
We are committed to grow the local deep tech talent ecosystem and certified as the first and only Hyperledger Training Partner (“HTP”) that is based in South East Asia.
Our technical & distribution partnerships with some of the biggest and the most reputable IT companies in the world are a testament to our acumen and competency.
Team RICHA's Chatbot Wins HSBC’S Inaugural Openlab Innovation Challenge
Acumen Finance, Australia & ReGov Technologies partner to leverage outbound Sales capabilities via AI
- No shares will be allotted or issued based on this document after six months from the closing of the offer period.
- This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.
- This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.
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ReGov signs first US based customer
We are happy to inform you that we have signed-up our first client in the USA. Thereby ReGov achieves one of its 2021 business development goals already in 2020. Well done team!
Starting Live Campaign 29th of July
The date to go live with our campaign has been set to the 29th of July. Please note that once the campaign is live there will be no allocation of early bird bonus shares anymore.
Pre-Campaign Investor Pitch
10 minute pitch video as presented on last PitchIN Thursday.
Press Release: Acumen Finance, Australia & ReGov Technologies partner to leverage outbound Sales capabilities via AI
“I have wanted a solution like this for the last couple of years,” said Managing Director of Acumen Finance, Nathan Daly. “Implementing RICHA will exponentially multiply our reach in accessing businesses requiring capital to realise their destiny and purpose in the marketplace.”
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