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With the turn of the last decade, a consumer’s fundamental way to act, decide, purchase, or influence has been rapidly changing amid the global call for digital transformation across various industries. However, even though the APAC growth geographies in the digital transformation sector are expected to drive 75 percent of the world GDP growth in the upcoming decade, the APAC region and financial services in particular, seem to fall short of tapping into the highly positive rippling effects of digital transformation.
As veterans in financial services and the IT industry, respectively, Manish Bhai and Puneet Gupta could anticipate the wave of digital transformation set to sweep across every sector. But they noticed that although the financial services sector has been embracing technology, the industry’s fundamental way of presenting itself was not on par with digitally-savvy consumers’ evolving behavioral patterns. Building on their cumulative work experience, the duo set out to help accelerate the change in the financial services industry across the APAC region by leveraging the most significant phenomenon in the present business acumen: Emerging digital technologies like AI, automation, and cloud-based platforms; and CXO led digital transformation programs. “We came out with the vision and mission of creating a digital transformation arena in APAC, with our primary focus on financial services,” states Manish Bhai, CEO and Co-Founder of CoantumLeap.
Unlike conventional service providers who would build a web or a mobile solution, the duo set up an organization where they could incorporate digital transformation strategies right at the C level. They wanted to fundamentally take the digital transformation concept out of the server room and induct it into a company’s boardroom to generate an outcome-based business model that would reap success. Invigorated by their ambition, they laid the cornerstone of CoantumLeap. Headquartered in Singapore, the company is driven by the core value of platformization. “Whether it is our incubation startup, green field setups, or our joint ventures, platformization is an underpinning element for every venture of the CoantumLeap family,” states Puneet Gupta, CTO, and Co-Founder of CoantumLeap. CoantumLeap draws on the synergistic value of all its ventures to deliver a matchless digital transformation experience personalized to an individual user’s level, leading to a hassle-free implementation of platformization.
Whether it is our incubation startup, greenfield setups, or our acquisitions, platformization is an underpinning element for every venture of CoantumLeap family
Further leveraging the far-reaching potential of AI and ML, CoantumLeap’s AI teams are deriving deep insights by analyzing a wide range of social media comments of individual consumers and applying multiple intelligences to it to help brands draw actionable insights to modify the design, packaging, and marketing methods of products.
Having established CoantumLeap as a digital transformation platform, the team is working to create a greenfield challenger bank meant to become the first full-spectrum digital bank for Southeast Asia. “Our idea is to provide a single application for solving all your financial needs with speed and ease, and the experience being unique for every user,” attests Manish.
Both Manish and Puneet draw attention to a persistent challenge in the financial sector. Unlike social media sites, where there are thousands of users signing up each minute, for banks, it takes a week to get one new user to be part of the system or a platform. “Staying abreast of the latest and greatest in AI, and machine vision technologies, along with automated workflow decision systems, we have built totally digital capabilities where a bank can on board new users and make product offers at unprecedented time frames,” states Puneet.
Elucidating about the future and growth plans for CoantumLeap, the duo is looking forward to increasingly gaining in-depth insights into their customer’s challenges, taking a look at the problems they are solving, and converting them into SaaS platforms. “How do you take a traditional business and make them as agile for innovation as a Silicon Valley startup would be? That will remain as our focal theme as we move forward,” concludes Puneet, with a tinge of excitement.