JurisTech’s journey in 2023 has been marked by a series of noteworthy events, shaping our world in diverse ways. As we approach the end of this truly eventful year, it is only fitting that we take a moment to reflect on the numerous accomplishments and milestones that have defined its narrative. Without further ado, let us take a look at JurisTech’s 2023 in review. 

• Adoption and Implementation of Kaizen

Kaizen is a Japanese term that translates to “continuous improvement” or “change for the better.” It is a Japanese concept that is often associated with the business and manufacturing sectors. The Kaizen philosophy emphasises making small, incremental improvements to processes, products, or services over time.

Kaizen promotes a continuous improvement mindset, in which employees at all levels of an organisation actively participate in suggesting and implementing small changes to improve efficiency, quality, and overall performance. The goal is to foster a culture of continuous improvement by encouraging innovation and adaptability.

How JurisTech applies the Key Principles of Kaizen:

Continuous Improvement: Kaizen promotes the idea that there is always room for improvement, and that small, continuous changes can lead to significant advancements over time.

Employee Involvement: JurisTech employees are encouraged to actively participate in identifying and proposing areas for improvement. This participation fosters a sense of ownership and commitment to the process of improvement.

Elimination of Waste: Kaizen aims to reduce waste in processes, whether it is time, materials, or resources. Through the identification and elimination of waste, JurisTech can enhance its efficiency and reduce its expenses.

Standardisation: In addition to encouraging continuous improvement, Kaizen emphasises how crucial it is to standardise effective procedures in order to preserve and expand upon advancements.

Focus on Quality: At the core of Kaizen is an improvement in quality. Enhancing the calibre of JurisTech’s products and services is the aim of ongoing process improvement.

• Celebrating 15 years of CSR (Corporate Social Responsibility)

JurisTech was privileged to provide support to two organisations this year: Rumah KIDS (Kanak-kanak Ini Disayangi) and SPICES (Supporting Parents, Infants, and Children through Early Services). 

Group photo of all participants at SPICES’ 4th Charity Golf Event

JurisTech’s mission to improve the lives of underprivileged children is in line with the proceeds from this year’s 4th Charity Golf Tournament at Sungai Long Golf and Country Club, which raised money essential for SPICES’ developmental projects.

 Naaman Lee, COO of JurisTech, presenting the mock cheque to Rumah KIDS’ representative.

Regarding Rumah KIDS, JurisTech employed internal fundraising to generate an astounding RM62,202.33, which it then contributed to the organisation. JurisTech’s COO, Naaman Lee, demonstrated the company’s dedication to helping disadvantaged kids by personally sponsoring gifts. Not only that, but in addition to the monetary donation, the JurisTech Annual Dinner committee helped by holding an interactive art class for the children.

• The Release of JurisTech’s Auto-Decisioning Engine

To make the best decisions, Juris Decisioncraft, the auto-decisioning engine developed by JurisTech, combines data and analytics from multiple systems and sources. It gives companies in a variety of industries the power to use data-driven insights, making it easier to formulate complex and important decisions quickly and confidently. With its intuitive web interface and no-code technology, Juris DecisionCraft allows businesses to easily refine decision models inside the system without the need for programming or specialised technical knowledge.

• The Launch of Brand-New or Reformed Business Units

Mobile Team, Decision & Data Science (DDS), and Advocates for Client Experience & Success (ACES) are the three business units that were formed/reformed during the current year. 

The Mobile Team is primarily responsible for maintaining internal mobile applications and creating mobile app versions for all JurisTech products. DDS is responsible for JurisTech’s autoML AI platform and auto-decisioning engine, in addition to managing iMoney’s (JurisTech’s consumer arm) data tasks and report automation. With its redesigned organisational structure, ACES is dedicated to providing clients with individualised support at a faster rate.

• Multiple Major Projects Completed with Success

This year, we are proud to have launched multiple large-scale projects with a 100% success rate. Each project encompasses a multitude of JurisTech solutions. 

Among these projects, we completed one in six months, setting a new record for our fastest project implementation time!

These projects were carried out for the benefit of five different clients: A leading communications service provider in Malaysia that specialises in mobile and broadband plans and cutting-edge smartphones; an umbrella company with a wide range of business interests including real estate development, investment, construction, industries, hospitality, and financial services; one of Indonesia’s first multifinance companies, having been the first to be listed on the Jakarta Stock Exchange and Surabaya Stock Exchange; a pioneer in Islamic banking in Malaysia that played a key role in the development and expansion of the country’s Islamic financial industry; and a financing company in Japan that is well-known for its deep industry knowledge. 

• Alliance Bank and CTOS Partner Up to Upgrade Retail Loan Origination System, Powered by JurisTech

From left, Mr Eric Chin, CEO (CTOS), Mr Erick Hamburger, Group CEO (CTOS), Mr Kellee Kam, Group CEO (Alliance Bank), Ms Gan Pai Li, Group Chief Consumer Banking Officer, (Alliance Bank), Ms See Wai Hun, CEO (JurisTech) 

Alliance Bank will update its Retail Loan Origination System (RLOS) with a five-year, RM 14 million contract, working with CTOS and JurisTech. With a focus on the unbanked and underbanked populations, this ground-breaking project seeks to revolutionise the credit industry by utilising digital innovation and automation to deliver quick, easy, and individualised services. 

With a goal of disbursing loans within minutes, the new RLOS, which is based on JurisTech’s platform, integrates CTOS solutions and aims to streamline the loan origination process. This will improve customer satisfaction and propel Alliance Bank’s retail consumer loan book growth to RM 36 billion over the next five years.

• CTOS and Kekal Impian Enters Partnership with Moneylending Platform Powered by JurisTech

From left: Eric Chin, CEO of CTOS Data Systems Sdn Bhd; Jason Ng, Business Advisor for Kekal Impian Sdn Bhd; See Wai Hun, Co-founder and CEO of Juris Technologies Sdn Bhd; Eric Hamburger, Group CEO of CTOS Digital Bhd; Lee Khang Ren, Director of Kekal Impian Sdn Bhd; Tan Sri See Hong Chen, See Cherng Jye and Tan Boon Wah, Business Advisors to Kekal Impian Sdn Bhd signing a cooperative agreement between CTOS and Kekal Impian.

CTOS Data Systems Sdn Bhd and Kekal Impian Sdn Bhd have formed a strategic partnership to revolutionise digital money lending in Malaysia. 

Using JurisTech’s state-of-the-art technology, the partnership seeks to improve financial inclusion by offering online financial services that are faster, more convenient, and individualised, with a focus on underserved populations. This partnership represents a turning point in the financial landscape of Malaysia by utilising data-driven decisioning and technology to create a more open and welcoming financial environment.

• EndeavHER Roundtable 2023 — Empowering Founders: Charting the Talent Territory

Group Photo of the Panel, Moderator, and the audience taken at the EndeavHER Roundtable 2023

The EndeavHER Roundtable 2023, organised by Endeavour Malaysia and with the theme “Empowering Founders: Charting the Talent Territory,” was proudly sponsored by JurisTech. 

The gathering of prominent figures in the industry, such as See Wai Hun, CEO of JurisTech, encouraged conversations about talent development, entrepreneurship, and the future generation in the workplace. Reiterating the importance of diversity, inclusion, and talent investment for business success, the thought-provoking session focused on the value of purpose-driven entrepreneurship, talent development, and fostering an innovative culture.

• Juris Olympics – A Month to Remember

Group Photo of Amazing Race Participants & Organisers for Juris Olympics

Juris Olympics 2023, a five-week internal sports event hosted by JurisTech, transcended traditional competition, fostering unity and camaraderie among JurisTech and iMoney’s employees. 

Apart from the intense competitions in chess, pool, and other games, the occasion perfectly embodied the GECO values of the company, which are Growing Heroes, Making Excellence Happen, Customer First, and Opening Up. The success of Juris Olympics demonstrated a harmonious fusion of competition, teamwork, and adherence to core values within the JurisTech family, in addition to strengthening internal ties.

Reflecting with a Forward Gaze

As we conclude this retrospective journey through the successes and challenges of 2023, we cannot undervalue the crucial contributions made by our committed JurisTech employees. Your dedication, perseverance, and hard work have been the main factors in our success in the ever-changing fintech industry.

As we express our gratitude to each employee, we also cast our gaze forward with excitement. The year 2024 holds the promise of new territories to conquer and fresh horizons to explore. We are ready to start a new year of development, learning, and unmatched success with new mindsets and a common goal of excellence.

In the spirit of collaboration and continuous improvement, we extend heartfelt thanks to our partners and clients as well. Together, we will embrace change and steer the fintech industry’s ever-changing terrain, influencing the direction of financial technology.

Cheers to the adventures that lie ahead in 2024 and to the unwavering spirit of JurisTech. Together, with unwavering resolve and a forward-thinking attitude, we will keep redefining possibilities and raising the bar in the finance industry. Thank you for your hard work, and here’s to a prosperous and groundbreaking year ahead!

About JurisTech

JurisTech (Juris Technologies) is a leading fintech company, specialising in enterprise-class software solutions for banks, financial institutions, telecommunications, and automobile companies in Malaysia, Southeast Asia, and beyond.