MDEC Fintech Conference - How I was not Killed by the Money Changer Families, Hakim Karim -...
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Making Currency Exchange Work For You
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Transcript of MDEC Fintech Conference - How I was not Killed by the Money Changer Families, Hakim Karim -...
Making Currency Exchange Work For You
OUR TEAM
JOANN SOON Content
AMIR HAGHBIN Marketing
HAKIM KARIM Strategy
DAVID OH Biz Dev
Meet The Squad CURRENSEEK
CHAS ISAAC Product
PROBLEM & OPPORTUNITY
How rates on the ground compare to official rates
Rates
Rates can vary by over 20% within close walking distance
Disparity
Which money changers to trust
Trust
Where money changers are located
Location
Travellers PAIN POINTS
Limited insights of customer behaviors, experiences or needs, nor knowledge of the supply & demand for various currencies
Insights
Difficulty obtaining foreign currencies without relying on expensive wholesalers who only operate 9-5
Foreign Currency Provision
Not enough man-power nor skills to keep up with Anti-Money Laundering (AML) & ‘Know Your Customer’ (KYC) regulations
KYC/AML Compliance
Most have no customer acquisition strategy or online presence
Customer Acquisition
Money Changers PAIN POINTS
ASEAN
WORLDWIDE Spend US$1.4 Trillion
Spend US$110 Billion
Travelers 1.1+ Billion
Travelers 105+ Million
Market Opportunity CURRENSEEK
Local Market
TRAVELLERS
10M TRAVELLERS
26M
CURRENSEEK
US$20B SPENDING
US$1145 SPENDING PER TRIP
OUTLETS
~1100 US$15B TURNOVER
CURRENSEEK
TRAVELLERS save time and money, exchanging currency
MONEY CHANGERS advertise their rates and businesses online
Community-driven, location-aware currency exchange comparison app.
OUR JOURNEY
The Idea CURRENSEEK
Validation
KRW10,000 = RM 309
KRW10,000 = RM 261
CURRENSEEK
Eureka! CURRENSEEK
Fear CURRENSEEK
CIP 150 100 CURRENSEEK
iOS or Android? CURRENSEEK
Brand CURRENSEEK
Launch! CURRENSEEK
Intuitive CURRENSEEK
Traction & Retention CURRENSEEK
The Wall CURRENSEEK
Visa Malaysia Fintech Finals CURRENSEEK
Visa FF16 CURRENSEEK
Media Coverage CURRENSEEK
Funding! CURRENSEEK
Startupbootcamp Fintech Accelerator CURRENSEEK
Advisors The region’s brightest FinTech minds
and advisors with years of global insights & experience
FELIPE DAGUILA
JAMES SPURWAY ALEX YOKOYAMA
ARVIN SINGH
CURRENSEEK
GIFF ASEAN FinTech Challenge CURRENSEEK
More Media Coverage! CURRENSEEK
MSC Malaysia Hot Startup CURRENSEEK
WHAT’S NEXT?
Travellers CURRENSEEK FOR:
PERSONALISED RATES
Highly personalised deals for customers based on amount or location. Customers can lock-in rates, book and pay online, plus pick up currency at their convenience.
RATE TRACKER
Alert customers planning for their trips when any participating money changer is able to offer a better rate.
Knowing customers in advance
COMPLIANCE FACILITATION
Personalised offers to highly qualified customers
BIDDING PLATFORM
Real-time demand for currencies by time and location
INVENTORY ANALYTICS
Money Changers CURRENSEEK FOR:
Commitment from customers ahead of time
E-PAYMENT INTEGRATION
