This article first appeared in MalaysiaKini. 

Malaysian AI Tech company Innov8tif Solutions Sdn Bhd (Innov8tif) is proud to be featured amongst the list of The Financial Times’ High-Growth Companies Asia-Pacific 2022, compiled by research firm Statista.

Innov8tif specialises in ID assurance solutions, which include electronic know-your-customer (eKYC), document verification and other authentication services.

This recognition is due to the company’s consistent organic revenue growth since 2017, achieving a compound annual growth rate (CAGR) of 48%. Innov8tif first launched its eKYC solution on the cloud in 2018 which garnered about 100 thousand transactions within its first year. The company saw close to 1 million transactions being processed the following year, representing a 10x increase. Total transaction volume has since steadily risen in the triple digits to this day.

“Much of Malaysian entrepreneurial successes comes from consumer-facing companies, such as Carsome, DoctorOnCall, PolicyStreet and more,“ says Innov8tif Chief Commercial Officer Joe Seah.

“However, we believe that there is untapped potential within the B2B space, considering our multilingual capacity, bright talents and ability to deliver quality services. There is much optimism to look forward to in the following years. The demand for verification services is not slowing down anytime soon, especially at a time when companies are still in the process of digitalisation.“

According to Seah, Innov8tif plans to build on top of this momentum to increase its presence within the ASEAN region. The company is also in the midst of expanding its service offerings, establishing more partnerships, and making its existing solutions more accessible and easier to implement for existing and new clients.

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