The dramatic 13-hour shutdown of TikTok in the US on January 19, 2025, followed by its swift restoration, has created a complex tapestry of political manoeuvring, technological implications, and national security debates that continue to shape the platform’s uncertain future in America.

The TikTok US ban reversal materialised through an unexpected champion: President-elect Donald Trump. His pledge to issue an executive order following his inauguration prompted the platform to restore service even before the formal order was signed. The development marks a striking evolution in Trump’s stance on the platform. He has transitioned from a vocal advocate for its ban during his first term to emerging as its potential saviour.

ByteDance’s challenge and Trump’s proposed solution

At the heart of the controversy lies ByteDance’s consistent reluctance to sell TikTok, notably its prized recommendation algorithm. Trump’s proposed solution – a 50-50 joint venture between ByteDance and American owners – represents a potential middle ground, although its feasibility remains questionable.

The proposal signals a significant shift in approach, attempting to balance national security concerns with the platform’s operational continuity. Multiple factors complicate the path forward. The existing law, signed by outgoing President Biden in April 2024, mandated ByteDance to sell TikTok to an owner from the US or its allies in 270 days. Trump’s executive order, while providing temporary relief, cannot unilaterally override this congressional mandate.

The legal reality is further emphasised by opposition from prominent Republican Senators Tom Cotton and Pete Ricketts, who argue against any extension of the ban’s effective date. The situation has attracted several potential buyers. A group led by billionaire Frank McCourt and Kevin O’Leary has submitted a formal bid, as has the AI search engine PerplexityAI. Reports have also suggested possible interest from Elon Musk, though he has maintained public ambiguity about any potential acquisition.

Musk’s Sunday statement opposing the TikTok ban on free speech grounds and criticising the imbalance between TikTok’s operation in America and X’s inability to operate in China adds another layer to the complex narrative.

Technical and operational challenges

The prospect of splitting TikTok’s US operations presents significant technical challenges. McCourt’s group has proposed purchasing TikTok’s US assets without the company’s algorithmic software. Historical attempts by tech giants like Meta and YouTube to replicate TikTok’s engagement mechanics have shown the difficulty of this approach. Creating an American-only version of TikTok could necessitate a new app for global users to access US content, adding further complexity to the platform’s operation.

What is understood so far is that the brief shutdown highlighted the important role of TikTok’s service providers. Despite the Biden administration’s apparent willingness to defer enforcement to the incoming Trump administration, service providers’ concerns about potential penalties – up to $5,000 per person with access to TikTok – led to the temporary cessation of services. Trump’s promise of liability protection for these providers proved important in restoring service.

Looking ahead: uncertain future

The resolution of TikTok’s US situation could unfold in several ways. The most likely scenario is a reprieve through Trump’s executive order, followed by intense negotiations over the proposed 50-50 joint venture structure. However, ByteDance’s historical resistance to selling, algorithmic complexities, and valuation challenges could complicate this path.

Alternative outcomes include a complete sale to American buyers, although this faces significant hurdles regarding algorithm ownership and operational continuity. The least likely but still possible scenario is a new legislative solution, but this would require substantial bipartisan support in a Congress that strongly backed the original ban.

Other nations grappling with similar concerns will watch the TikTok US ban reversal saga. India, which banned TikTok in 2020, maintains its firm stance, while European Union regulators continue to scrutinise the platform under their Digital Services Act.

The UK, Australia, and Canada also monitor the US situation as they consider their approaches to Chinese-owned technology platforms. In short, the eventual US resolution could serve as a template for other nations. If Trump’s joint venture model succeeds, it might offer a middle-ground solution for countries seeking to balance national security concerns with the platform’s popularity. Conversely, if the ban takes effect, it could embolden other nations to act similarly.

The situation transcends TikTok, potentially reshaping how nations approach technology platforms owned by geopolitical competitors. The outcome could establish precedents for handling foreign-owned apps, data sovereignty, and the balance between national security and digital innovation.

The post TikTok’s 13-hour ban: Trump’s unexpected rescue plan appeared first on TechWire Asia.

The possibility of a forced ByteDance TikTok sale is real today as the US Supreme Court considers the Chinese tech giant’s last-ditch effort to prevent a mandated divestiture or shutdown of its US operations by January 19, 2025.

The Beijing-based tech powerhouse faces unprecedented challenges as it confronts American legislation that could force the first-ever sale of a central Chinese social media platform in the US. According to Bloomberg‘s analysis, the stakes are exceptionally high for China’s tech sector, as the case could set a precedent for how Western nations handle Chinese-owned digital platforms.

Legal challenges and Beijing’s position

Chinese authorities have taken a firm stance against what they view as forced technology transfers under the guise of national security concerns. The position significantly complicates ByteDance’s options, as any potential sale would likely require Beijing’s approval.

The Chinese government’s warning about potential retaliatory measures against US companies underscores the broader implications for Asian tech firms operating globally.

The US Supreme Court will hear TikTok’s challenge today, though Bloomberg Intelligence analyst Matthew Schettenhelm estimates only a 30% chance of success. This relatively low probability raises concerns among Asian tech investors about the precedent it might set for other Chinese companies operating in Western markets.

Investment and valuation implications

A potential ByteDance TikTok sale could command a price tag of $40-50 billion, making it one of the most significant forced divestitures in tech history. The valuation reflects TikTok’s considerable market penetration in the US, where approximately 170 million Americans use the platform.

The company has invested heavily in addressing US concerns, including over $2 billion in Project Texas, its data security initiative. Previous potential buyers, including Microsoft Corp. and Oracle, have explored acquisition possibilities, but no clear frontrunner emerged who could both afford the purchase and navigate the complex regulatory landscape.

The uncertainty has created ripples across Asian markets, where investors closely monitor the impact on regional tech valuations. For ByteDance, losing the US market would significantly impact its global expansion strategy.

While the company maintains a strong presence across Asia and other regions, the US market represents a crucial advertising revenue and innovation source. The potential ban could particularly affect TikTok Shop, the company’s e-commerce initiative that has seen remarkable success in Southeast Asian markets and was planned for aggressive US expansion in 2024.

Political complexities and international relations

The situation is complicated by President-elect Trump’s unexpected opposition to the ban, reversing his previous stance. While potentially beneficial for ByteDance, his political shift creates uncertainty in Washington and Beijing. The Chinese tech community is watching, as this could influence future US-China tech relations.

Several of Trump’s proposed cabinet members, including Secretary of State nominee Marco Rubio, have strongly advocated the ban, creating additional layers of complexity in the political landscape. The internal US political discord has caught the attention of Asian governments and tech firms, who see it as indicative of Chinese companies’ challenges in Western markets.

Market implications for Asian tech

The outcome of this legal battle could reshape how Asian tech companies, particularly Chinese firms, approach international expansion. If ByteDance is forced to sell TikTok’s US operations, it might prompt other Asian tech giants to reconsider their global strategies, particularly in Western markets where national security concerns could impact their operations.

The DC Circuit Court of Appeals’ December ruling upheld the law’s constitutionality and sent shockwaves through Asia’s tech sector. The court’s acceptance of US government concerns about Chinese data access and propaganda risks could set precedents affecting other Chinese tech companies operating internationally.

Alternative scenarios and future outlook

While a complete US exit would be significant, TikTok’s billion-plus global user base, predominantly in Asia, could help cushion the blow. The platform’s strong presence in markets like Indonesia, Japan, and South Korea provides a robust foundation for continued growth, even without US operations.

The Supreme Court’s decision, expected before January 19, will be closely watched by tech companies and investors across Asia. As Bloomberg reports, while alternative scenarios exist – including potential regulatory compromises – the outcome could fundamentally alter how Chinese tech companies navigate international markets.

For ByteDance and the broader Asian tech sector, this case represents more than just TikTok’s fate in the US market. It could establish new precedents for how Asian tech companies navigate increasingly complex international regulations and security concerns, potentially reshaping the global digital landscape for years.

The post Can ByteDance escape a forced TikTok sale? What’s at stake for Asian tech appeared first on TechWire Asia.

Hyderabad-based identity verification startup Equal has raised $10 million in Series A funding, positioning itself at the forefront of the fight against digital fraud in India. The investment, led by Prosus Ventures at an $80 million post-money valuation, comes as India grapples with cyber fraud losses projected to exceed $14 billion—approximately 0.7% of the country’s GDP—in 2025.

Founded in 2022 by Keshav Reddy and former Swiggy engineering director Rajeev Ranjan, Equal emerged at a critical time as India faces mounting challenges in digital fraud. The startup has quickly established itself as a critical player in fintech security, offering solutions that streamline know-your-customer (KYC) requirements, fraud prevention, and regulatory compliance.

Equal’s platform connects over 50 identity databases and thousands of API providers, helping businesses struggling with digital verification and compliance. The comprehensive approach has resonated strongly with the market, as evidenced by the company’s impressive client portfolio, which has developed in just two years of operations.

The startup has successfully onboarded over 350 customers, including industry giants such as State Bank of India, HDFC Bank, ICICI Bank, Reliance Jio, Airtel, Uber, and Zoom. This rapid adoption by major financial institutions and technology companies demonstrates the urgent market need for efficient identity verification solutions.

Equal recently acquired a stake in account aggregator OneMoney to enhance its service offerings. The acquisition combines Equal’s identity verification capabilities with OneMoney’s consent-based financial data-sharing infrastructure.

The Indian market for identity verification is becoming increasingly competitive, with established players like Perfios (backed by Warburg Pincus and Teachers’ Venture Growth), IDfy (backed by TransUnion), and Bureau (backed by GMO VenturePartners) also operating in the space. 

However, Equal differentiates itself by positioning itself as an aggregator, even partnering with some competitors to provide more comprehensive solutions. A practical example of Equal’s impact comes from Upstox, one of its early customers. The trading platform processes approximately 350,000 transactions monthly through Equal’s system. 

According to Upstox’s CEO Ravi Kumar, who has also invested in Equal, the platform’s cost-effectiveness and high uptime make it his preferred choice over building similar technology in-house. The fresh capital injection will scale Equal’s operations, expand its product suite, and help it forge strategic partnerships. 

The expansion comes at a crucial time when the Indian government is introducing new regulatory requirements to combat fraudulent digital transactions, often placing additional technical burdens on businesses. Overall, the startup’s growth trajectory aligns with India’s broader digital transformation as the country—now the world’s most populous nation and second-largest internet market after China—becomes increasingly digitally active. 

While beneficial for economic growth, the country’s digital shift has also exposed vulnerabilities in the financial system, including threats to government-backed systems like Aadhaar. Equal’s approach to addressing these challenges through technology and partnerships represents a step forward in India’s fight against digital fraud. 

By providing businesses with tools to maintain regulatory compliance and streamline operations, Equal is positioning itself as a major player in India’s evolving digital security landscape.

The post Equal secures $10M to battle India’s rising $14b digital fraud crisis appeared first on TechWire Asia.

Australian teenagers under 16 will be locked out of social media platforms under sweeping new laws announced by Prime Minister Anthony Albanese on November 7. The unprecedented ban, which could take effect late next year, marks any country’s most authoritarian stance to shield young people from social media’s influence.

If you think TikTok dances and Instagram stories are harmless teen pursuits, the Australian government disagrees. Its world-first package of measures goes beyond typical age restrictions, introducing biometric verification systems and government ID checks to enforce the ban. Unlike similar policies elsewhere, Australia’s approach offers no wiggle room—not even with parental permission.

While other countries have introduced various forms of social media regulation for young users, Australia’s vigorous enforcement mechanisms break new ground with its absolute stance: no parental consent exceptions, no ‘grandfather clauses’ for existing accounts, and the implementation of sophisticated age verification methods, including biometrics and government-approved.

“Social media is harming our kids, and I’m calling time on it,” Albanese told a news conference, according to Reuters. “If you’re a 14-year-old kid getting this stuff, at a time where you’re going through life’s changes and maturing, it can be a really difficult time, and what we’re doing is listening and then acting.”

The newly-unveiled comprehensive package of measures signals a significant shift from the current self-regulatory framework, which has primarily left social media platforms to set their own rules regarding young users. The age verification trial, a cornerstone of the new policy, marks uncharted territory in social media regulation. 

Australia is the only jurisdiction that has attempted to implement such stringent verification methods, making it a test case for whether such measures can effectively restrict youth access to social media platforms. Albanese said legislation will be introduced into the Australian parliament this year, and the laws will come into effect 12 months after being ratified by lawmakers.

“The onus will be on social media platforms to demonstrate they are taking reasonable steps to prevent access,” Albanese said. “The onus won’t be on parents or young people.” Inevitably, the success or failure of Australia’s approach could influence global policy decisions on digital youth protection.

The absence of a parental consent option is particularly noteworthy, as it removes what has traditionally been a common exception in digital age restrictions. This absolute approach suggests a fundamental shift in how governments view the role of parental discretion in children’s digital lives.

The proposed legislation will certainly raise several critical questions about implementation and enforcement. How will the biometric verification system work in practice? What measures will be in place to protect the privacy of young users during the verification process? How will the ban affect Australian teenagers relying on social media platforms for social connection and educational purposes?

From a privacy perspective, there would also eventually be concerns about the collection and storage of biometric data from young people. Nevertheless, social media platforms, which have historically resisted strict regulation, must adapt their operations significantly to comply with these new requirements in the Australian market. 

The technical challenges of implementing robust age verification systems and the complete ban on under-16 access present unprecedented operational challenges for these companies. As the legislation moves toward implementation in late 2025, it will likely spark intensive discussion about the future of social media regulation and youth digital rights globally.

The post Australia sets global precedent with strict teen social media ban appeared first on TechWire Asia.

One business function that has been working with machine learning in operations is customer support and/or call centres. Often in the form of chatbots or smart assistants, we use them every day to interact with retail companies, utilities, government offices and so on.

The Business-Focused AI Use Case

But as AI advances, use cases where organisations can leverage the technology are growing. To explore these, we turn to organisations that are early adopters of AI in customer care. These businesses are further down the AI path than many others. Tech Wire Asia had a conversation with two executives whose organisations are at the forefront of deploying AI in contact centres and, more broadly, across industries.

Dave Flanagan is Head of Digital and Conversational AI at Nexon Asia Pacific, a digital consulting and managed services organisation in Australia that assists its customers to implement digital transformation roadmaps, identifying key areas where AI can add the most value and tailoring solutions that integrate seamlessly with their existing systems. Phillip Townsend is the Strategic Director of Innovation, APAC, for Genesys, the market leader in AI-powered experience orchestration, delivering seamless and personalised customer and employee experiences.

Employee Experiences

In addition to the intelligent assistants already in use by many customer care functions, AI brings significant value in improving employee experiences. By giving contact centre staff access to AI-powered tools, job satisfaction increases, and the daily workload becomes more efficient. Improving staff conditions lowers staff churn rates, creates clear career progression opportunities, and – a key metric in the boardroom – makes for more loyal customers who get better service.

Phill Townsend described how early machine learning algorithms were deployed. “The first thing that was identified as an opportunity for AI was to drive automation to reduce cost in the organisation. A lot of technology innovations can be deployed really poorly. The speech IVR of the early 2000s didn’t really serve a purpose for the customer, but was adopted to drive technology. Whereas now, there’s a belief in organisations to use tech to augment the agent. At Genesys, a lot of our R&D and our investment is going into leveraging augmentation in the agent’s processes, making sure it’s 100% right for our customers, and then shifting that into virtual agent capabilities.”

The Science of Compliance

There is a great deal of awareness in customer care functions of issues around data compliance, sovereignty, and security. That’s especially relevant given AI’s need for data to learn from and act on.

“When it comes to consolidating vast amounts of data into meaningful insights or making informed decisions backed by data, organisations must consider where their data will reside, ensuring it’s secure while leveraging AI tools to uncover actionable trends. This approach helps unlock new insights, empowering both the organisation and its staff to achieve better outcomes,” said Dave Flanagan of Nexon.

“Embedding compliance into AI development and practices means organisations must handle data management with a corporate-level perspective to prevent oversharing or unwarranted access to personally-identifiable information. By incorporating these practices, organisations can ensure that their data use aligns with regulatory requirements and safeguards sensitive information. As AI continues to be leveraged increasingly in call centres, it becomes even more crucial to prioritise compliance and robust data governance to maintain trust and uphold regulatory standards,” Dave said.

Expecting AI to independently decide upon a course of action, therefore, is one of the more high-risk projects that call centres might pursue. “I don’t know many organisations that do it well, because it involves multiple data sources such as customer history, customer profile and real time journey information. That’s high complexity, high risk. There are so many opportunities to be had with AI that are further down the risk scale yet bring immediate value,” he said.

The Smart Employee Assistant

This brings us back to using AI to augment the human worker and improve their overall experience. Phill pointed out that using AI to remove simple customer engagements from agents left them with the more stressful tasks. “[They were] dealing with far greater complexity in every single engagement. And they probably weren’t being supported well within the business.”

To improve employee experience, it is important to look to AI to provide support in everyday interactions.

“An AI-powered agent copilot can surface the right knowledge based on the conversation that customer is having in real time. That takes away stress from the agent. It’s like the bumper rails on a bowling alley. If the ball’s going down the middle, leave it alone. If we start to sway off track, let’s use some bumpers to guide the agent.”

The additional benefit of using software as an employee’s virtual assistant is that employee training and onboarding cycles get shorter. Phil said, “Instead of six and eight week training and onboarding cycles, you dramatically shrink timeframes by an AI surfacing the knowledge without the agent having to know everything.”

Additionally, because call handlers become fluent faster, staff can transition to other roles in the company, sometimes in other departments. This makes the candidate selection processes for open positions much simpler and less costly to the wider business.

Stepwise Implementation

And like any software rollout, the key to success is to proceed stepwise and address specific problem areas in the business. “Start small, ensure success,” Dave said. “Pick those right use cases that we know we’re going to get right, because we still need to build trust, not only with the customers, but with people inside the organisation.”

The internal buy-in for AI is particularly relevant because the media storm around AI means people can sometimes fear the technology. “It comes back to that trust. If you don’t achieve trust by success, you will encounter roadblocks pretty quickly,” he said.

To learn more about how artificial intelligence can enhance employee experience in the contact centre and maximise its value, consider partnering with Nexon, a company with extensive experience in delivering tangible results. To learn more about Nexon Asia Pacific’s practical AI implementations, visit here. To learn more about how AI-powered experience orchestration is delivering the future of customer and employee experiences, visit here.

The post Unlocking AI’s True Potential: Transforming Customer Care and Employee Experience appeared first on TechWire Asia.

The European Commission has launched a formal investigation into the popular Chinese e-commerce platform Temu, marking one of the first significant enforcement actions in the EU under the Digital Services Act (DSA). The probe, announced on October 31, 2024, centres on concerns ranging from selling illegal products to potentially manipulative platform design features that could harm consumers.

Temu’s meteoric rise in the European market since its launch in April 2023 has caught regulators’ attention. The platform, which was designated as a Very Large Online Platform (VLOP) on May 31, 2024, reported a staggering 92 million monthly users as of September 2024—more than double the 45 million threshold required for VLOP status. The rapid expansion has brought increased responsibility under the DSA’s stringent regulations.

Key areas of investigation

The Commission’s investigation will focus on four primary concerns:

1. Product compliance and seller verification

The investigation focuses on Temu’s system for preventing the sale of non-compliant products in the EU. Regulators are concerned about the platform’s ability to prevent suspended rogue traders from returning to the marketplace and stop the reappearance of previously identified non-compliant goods.

2. Addictive design features

The Commission will scrutinise Temu’s game-like reward programs and other potentially addictive design elements. There are concerns that these features could negatively impact users’ physical and mental well-being, raising questions about the platform’s responsibility for protecting consumer interests.

3. Recommendation systems

The EU investigation will examine how Temu recommends content and products to its users. Under the DSA, platforms must be transparent about their recommendation algorithms and provide users with at least one easily-accessible option that isn’t based on personal profiling.

4. Research data access

The Commission is also investigating whether Temu has met its obligations to provide researchers access to publicly-available platform data, an essential requirement for transparency under the DSA.

Regulatory framework and potential consequences

If the Commission’s suspicions are confirmed, Temu could face significant consequences for violating Articles 27, 34, 35, 38, and 40 of the DSA. Executive Vice-President for Europe Fit for the Digital Age, Margrethe Vestager, emphasised the importance of compliance, stating, “We want to ensure that Temu is complying with the Digital Services Act. Particularly in ensuring that products sold on their platform meet EU standards and do not harm consumers. Our enforcement will guarantee a level playing field and that every platform, including Temu, fully respects the laws that keep our European market safe and fair for all.”

The road ahead for Temu in the EU

The Commission’s investigation follows preliminary analyses of Temu’s risk assessment report, dated September 2024, and responses to formal information requests made in June and October 2024. While the investigation has no set deadline, the Commission has indicated it will be treated as a priority.

The probe doesn’t automatically indicate guilt, and Temu will have the opportunity to address the concerns through committing to remedy issues. The investigation will involve gathering additional evidence through information requests, monitoring actions, and interviews.

Th investigation represents a significant test of the DSA’s enforcement capabilities and could set important precedents for other online marketplaces operating in the EU. It’s worth noting that the Commission’s action doesn’t preclude separate enforcement measures by national consumer protection authorities or market surveillance bodies, particularly under the upcoming General Product Safety Regulation, which takes effect on December 13, 2024.

The case against Temu demonstrates the EU’s commitment to enforcing its digital regulations and ensuring that rapid business growth doesn’t come at the expense of consumer safety and any platform’s responsibilities to its customers. As the investigation unfolds, it will likely serve as a benchmark for how the DSA can be used to regulate large online platforms and protect European consumers in the digital marketplace sector.

The post EU vs Temu: shopping platform faces safety investigation appeared first on TechWire Asia.

In an exclusive interview with Tech Wire Asia, we asked the CEO of Affinidi, Glenn Gore, whether he thinks that commercial approaches by companies to data privacy are changing in accordance with public dissatisfaction with how their personal details are being used and lost.

“It’s evolving, and it’s unfortunately heading in the wrong direction, especially with the rise of AI. We know that last two years has seen incredible innovation from GenAI, but it is trained on public data sets. I think the world’s been a little shocked at how some of those public data sets have been used. You’ve seen that everywhere, from songwriters, musicians, script writers to social boards, where that data is being consumed at massive scale.”

Even with extensive customer records combined with available third-party records, there are issues with building customer profiles. The fragmentation of data means that companies can’t produce accurate pictures of any one individual regardless of whether they use AI algorithms or not. Building a profile of ‘the perfect customer’ and providing the goods and services they desire is impossible, because every entity has different personas depending on how they exhibit themselves online. A consumer might buy a certain brand and type of goods from one retailer, but will present quite a different digital profile when engaged in hobby activities online.

Affinidi’s Trust Network (ATN) provides a decentralised framework that prevents data misuse, such as hacked credentials and unauthorised access to personal details, while enabling secure and consensual data sharing. Through the use of Decentralised Identifiers (DIDs) and Verifiable Credentials (VCs), the ATN ensures that users have full control over the verified data they disclose to companies or third parties, so enhancing privacy and trust in digital interactions.

“Particularly for younger generation who’ve grown up in a digital world, transparency and trust, I think, become the new economy,” Glenn said. “I think companies that can establish trust with their customer base faster and better than others enter this flywheel effect, where the more trust they engender within their customer base, the more that customer base is actually going to be willing to share about themselves.”

The flip-side for the consumer is, Glenn explained, “The more I share about myself, I can see the experience changing, and I see value being created from that. I’m going to trust that [a company] is using my data for the right purpose, and I’m going to want to share more with them. And this is where companies that have that flywheel effect around trust are almost going to be untouchable.”

Holistic Identity and the Affinidi Iota Framework

The concept of ‘holistic identity’ is an integral part of the ATN. It is about giving individuals access and control of their own data. The Affinidi Iota Framework enables organisations to request only essential data points from individuals with their explicit consent, without organisations requiring to store non-essential details. Snippets like a person’s legal age or the professional certifications they have earned can be confirmed without passing on any additional details: there is a big difference between proving that a shopper is over 21 and providing full date-of-birth, for example.

Glenn uses the example of a bank loan, that at present requires a mass of compliance measures on the part of the bank, and the provision of highly sensitive information by the prospective lendee.

That’s two problems, he told us: the information supplied to the bank can be used for inference about the loan applicant, and the bank now has data that it has to protect.

An Iota (from the Affinidi Iota Framework) is essentially a query – a predefined set of rules or conditions that allows organisations to check whether certain criteria are met, without needing access to underlying data. It’s a privacy-preserving tool that allows computations to be made on personal data, while keeping both the data and the specific query details secure and confidential.

In this instance, if a bank provides an Iota that defines the criteria for loan eligibility, a prospective borrower can run this Iota query against their personal data without revealing any of their information to the bank. At the same time, the borrower remains unaware of the bank’s specific criteria. This creates a secure, privacy-preserving way to assess loan eligibility, where neither side gains more knowledge than necessary.

“Several powerful things happen in this process. The Iota query accesses only the relevant data stored in the individual’s personal vault, ensuring that no unnecessary information is leaked. The bank remains unaware of the applicant’s identity or personal details throughout the process. If the borrower doesn’t meet the criteria – for instance, due to insufficient savings – the Iota query returns a result indicating that the loan cannot be approved. At this point, the borrower has the option to share this outcome with the bank, but is under no obligation to do so, maintaining control over their private information.

“[Later,] they meet the criteria. ‘Do you give consent to share the result of this?’ And as part of this sharing of the result, the Iota will share just the input data, say, value of liquid assets and being paid at least $5,000 a month. But the loan applicant is not sharing pay slip data [which contains extraneous yet highly sensitive information]. Now a consent record goes back to the bank saying a verified identity, issued by a trusted party, of [customer name] was run against an Iota criteria, and they passed the checks. They can now choose to onboard as a customer.

“You can apply that to anything. Healthcare: Have you had blood work done? Dating sites and so on. You can use it for anything you want, and that’s really the power of it.”

The power of the message

A further difference in the ATN is the medium messages travel through. SMS and email were designed so that the owner of the account or number can be contacted by anyone. Affinidi Messaging is a decentralised messaging standard where the default position is you cannot send or receive messages.

“What’s the utility in that? Well, actually, that’s the first big safety feature of it. As you onboard, and you establish customer relationships with third parties, what you’re really doing is establishing a relationship between yourself as an identity and the third party. If I’ve opened a bank account with a bank, I give permission for it, with its known public key, to contact me. The message can be cryptographically signed and accessed only with my private key so I can be sure that this is absolutely the bank contacting me. So now I have a very secure communications channel at a relationship level between myself and the bank. Or between myself and the site I just bought some shoes from.”

So the Affinidi Trust Network provides privacy and encrypted communication with verified parties (which, Glenn told us, can be humans, businesses, AIs, machines or any digital system), and everything operates on the basis of trusted relationship and consent.

All about the CX relationship

But if we shelve the technical aspects of the framework, what we have is a way that trust can be manifest digitally: trust in a vendor, and trust in the truth of identity. It’s that basis that will form the next generation of CX, quite different from the scattergun approach to what we call customer experience at present.

“If you just strip all the fancy technology away, what we’re building is to allow companies or businesses to build trusted relationships with their customers, to allow their customers to share more about themselves, in order to get better experiences. And if you do that right, that creates a competitive advantage. The current technology stack does not allow that to occur, which is why we’re talking about a holistic identity approach. It touches everything from the concept of identity to authentication and authorisation as part of your onboarding, to how we communicate and share between each other using messaging, to consent management and privacy, with confidentiality at a personal level.”

Compared to the single sign on systems we use currently, Glenn says the ATN is “just a better way to manage identity and the relationships that identities create between themselves.”

But the network effect is difficult to create. Outside of Europe, India is one of the first countries that mandates consent from the individual for data sharing, and addresses the concept of a third-party data manager.

“I look at the DPDPA [enacted in 2023 – pdf] and say, that fits perfectly with what Affinidi is building because we can help facilitate the consent. This is where we’re starting to see the first real drivers. Because the great thing about DPDPA, is it’s government backed. Businesses in India must use these types of capabilities, so the planets are aligning. It’s still going to take time, but I think once they do start to align, I hope that there’ll be quite a rapid tipping point.”

The eyes of privacy advocates are firmly on Affinidi, while observing the effects of DPDPA as it takes hold. The eyes of every brand that wants to build more meaningful and trustworthy relationships with customers and third-parties should be on the same places.

To find out more about Affinidi, the Affinidi Trust Network and the Affinidi Iota Framework, head over to the relevant web pages.

The post The emergence of trust: next generation CX on next-gen tech appeared first on TechWire Asia.

In a recent post on Threads, Instagram chief Adam Mosseri acknowledged a growing concern on the platform: the rise of engagement bait. “We’ve seen an increase in engagement bait on Threads, and we’re working to get it under control,” Mosseri stated, promising “more to come” on the issue without specifying the exact measures being taken. 

The development marks a significant moment for Threads, Meta’s Twitter-like platform, as it grapples with content quality issues similar to those faced by other social media platforms.

Understanding engagement bait

Engagement bait refers to content designed primarily to elicit reactions, comments, or shares, often at the expense of genuine value or meaningful interaction. Common examples include posts that explicitly ask users to like, comment, or share, or those that use misleading tactics to boost engagement metrics. While these practices can temporarily inflate a post’s visibility, they can lead to a poor user experience and can dilute the platform’s overall content quality.

The impact on Threads

Threads, launched in July 2023 as a text-based conversation app, quickly gained traction as an alternative to Twitter. However, the platform’s rapid growth has also brought challenges, including the proliferation of engagement bait. This issue threatens to impact its long-term viability and user retention.

Instagram’s acknowledgement of the problem and commitment to addressing it signals a proactive approach to maintaining content quality. Its stance aligns with broader social media management trends, where platforms increasingly prioritise authentic engagement over raw metrics.

Opportunities for digital marketers

While the crackdown on engagement bait may seem challenging for digital marketers, it presents an opportunity to refine strategies and focus on more sustainable, authentic engagement. 

Here are several ways digital marketers can effectively use Threads to promote brands in this evolving landscape:

1. Focus on value-driven content: Create content that genuinely resonates with your audience. Share insights, behind-the-scenes glimpses, or industry news your followers will find valuable.
2. Leverage real-time conversations: Threads’ real-time nature makes it ideal for joining trending discussions. Engage in conversations relevant to your brand, offering unique perspectives or expertise.
3. Collaborate with influencers: Partnering with influencers who align with your brand values for authentic promotions can work well on Threads, too. Ensure collaborations feel natural and add value for the audience.
4. Utilise Threads’ features: Experiment with Threads’ features, such as its integration with Instagram, to create cross-platform campaigns that drive engagement organically.
5. Encourage employee advocacy: Allow employees to share brand content and engage in industry discussions on Threads, expanding your reach through authentic voices.
6. Create a Thread series: Develop a series of connected posts that dive deep into topics relevant to your audience, encouraging followers to engage with the entire series.
7. Host Q&A sessions: Use Threads to host live Q&A sessions, addressing customer queries and showcasing your brand’s expertise and customer service.
8. Share user-generated content: Encourage and share user-generated content related to your brand, fostering a sense of community and authentic engagement.
9. Provide exclusive updates: Use Threads to share exclusive updates or announcements, giving followers a reason to stay engaged with your brand on the platform.
10. Engage in community building: Focus on building a community around your brand by consistently engaging with followers, responding to comments, and fostering discussions.

Navigating the new landscape

Digital marketers must inevitably adapt their strategies as Threads evolves its policies to combat engagement bait. The key lies in shifting focus from short-term engagement metrics to long-term relationship building and brand loyalty. By prioritising authentic interactions and valuable content, marketers can comply with platform guidelines and build more meaningful connections.

As Threads refines its algorithms to favour quality content over engagement bait, brands that consistently provide value will likely see improved visibility and organic growth. This allows marketers to establish their brands as thought leaders and trusted voices within their industries.

Threads’ crackdown on engagement bait reflects a broader trend on social media platforms towards more authentic, value-driven content. For digital marketers, the shift necessitates reevaluating strategies, focusing on creating genuine connections with audiences.

The post Threads’ engagement bait problem and digital marketing opportunities appeared first on TechWire Asia.

It may be the combination of a need for supreme accuracy combined with the large quantities of data that need processing that makes finance professionals so forward-looking when it comes to technology. But regardless of the reasons, self-managed software solutions have the potential to change the way Finance functions in organisations work, and transform their role from careful book-keepers who produce after-the-fact numeric reports to full strategic players who operate on real-time data and guide the direction of the organisation takes.

This article examines some of the ways that Finance departments are changing, their use of self-managed financial software to effect that change, and what the future might look like for a properly-equipped Finance function working at the cutting edge of the latest in professional practice and intelligent software.

To help us explore this broad yet highly specialised subject, we spoke exclusively to Andrew Anton, the General Manager of Trintech‘s Asia-Pacific operations and Global Head of Solution Consulting.

Andrew’s role is to bridge the gap between practitioners in Finance offices in the region and the technology that can change the way the Finance Department works.

Although Andrew works with highly powerful software daily, his background includes a strong record in business administration, both academically and in the workplace, with leadership roles at Celonis, Zendesk and Oracle.

We first turned to the opening statement of this article: Why it’s the finance people who are often at the vanguard of technology’s implementation in the workplace. “The complexity and volume of financial data require precision, and manually handling this data not only slows things down but increases the risk of errors,” Andrew said. “Finance teams understand that technology allows them to automate tedious tasks, freeing up their time for strategic work that truly adds value. […] It’s about working smarter, with technology providing the insights and tools to make better decisions. […] Whether it’s reducing manual errors, staying compliant, or providing real-time financial reports, technology transforms the finance role from number crunching to forward-thinking strategy.”

Self-managed software and avoiding bottlenecks

In some definitions, self-managed software is a set of tools that are intuitive in their capabilities and are easy to use by line-of-business professionals.

Self-managed software can be a game-changer in any enterprise setting for two reasons. Firstly, by working autonomously with a software platform, specialist teams use their technology investments according to how they work rather than having the software platform dictate what the business function can do.

Secondly, the self-managed facet of finance software means that work progresses without the IT department having to intercede to help craft required features and change the code base so it works in ways that the financial professional needs.

That’s often been the case, historically, with huge, company-wide ERP (enterprise resource planning) software that’s not built specifically with the types of functions and easy-to-use interfaces that busy finance teams need.

Beyond day-to-day work processes

Automating everyday tasks without error changes the way a Finance department works. Instead of paying highly qualified individuals to undertake manual, repetitive tasks that are prone to errors (and the more dull any task is, the more prone to error it becomes), self-managed software solutions free up staff members’ time to concentrate on the edge cases that benefit from human consideration or more strategic work that better utilises their skills.

“The technology goes beyond just improving efficiency – it enhances the quality of insights available […] enabling them to guide the company’s strategy more effectively. These tools allow CFOs to stay ahead of risks, optimise operations, and even reshape business models,” Andrew said.

The smarter future

Although it seems like it’s been here for an age already, AI will play an increasing role in the business, Andrew told us. “Employees who embrace AI can upskill, take on more decision-making roles, and help shape the future of their company. The key is for organisations to provide the necessary training and reassurance that AI is here to support – not displace – them. With the right mindset and support, employees are more likely to see AI as a tool for growth and new opportunities.”

The possibilities of machine learning working on large bodies of a company’s financial data are only just becoming apparent, yet some of the potential is available today – in self-managed software that Finance professionals can implement and use.

The dangers of slow uptake and the time to switch

The speed at which technology continues to change the face of the modern workplace is breathtaking. Progress is fastest in business functions that stand to benefit most from automation and accuracy – the definition of the Finance department.

“Delaying automation can put a company at a real disadvantage, particularly when competitors are racing ahead with technology. The most telling signs are missed deadlines, inaccurate reporting, and finance teams that are stretched too thin, relying on outdated manual processes,” Andrew says.

But is the type of self-managed software automation only for the very large enterprise with deep pockets? It is not, Andrew says, a question of the size of the organisation. “Any business can benefit from financial automation, but the need really becomes urgent when the organisation starts to grow. [..] For smaller businesses, automation helps them scale efficiently without overburdening their teams. For larger companies, it’s critical for managing risk, ensuring compliance, and keeping up with the speed of modern business.”

Transforming the Finance function in any sized business, therefore, has significant advantages that go beyond mere cost-saving. By transforming finance professionals’ roles into ones that combine their expertise with access to real-time, empirical data, their role becomes strategically central to the direction the company takes.

To find out more about the range of self-managed software platforms that Trintech offers, check out the company’s website. And to see the options in action, readers can book a demonstration of just how impactful this technology can be.

The post Empower Your Teams to Make Time Count with Self-Managed Solutions appeared first on TechWire Asia.

At Tech Wire Asia, we have been lucky enough to speak with two of Malaysia’s booming businesses in the programme. The companies received help, guidance, and resources offered through the Malaysia Digital Economy Corporation (MDEC) and are thriving today.

MDEC is an agency operating under the purview of the Ministry of Digital, charged with leading Malaysia’s digital economy forward. With the Malaysia Digital (MD) national strategic initiative and its catalytic programmes, also known as PeMangkinMD, MDEC seeks to transform the nation’s digital capabilities, fostering the growth of local tech companies and driving digital adoption.

Sophic Automation, (a subsidiary of 3REN Berhad) was founded as a partnership between Lee Chee Hoo and Koh Dim Kuan, AKA ‘DK’. DK took time out to share with us how the company has grown since its inception in 2007 and the ways in which MDEC’s Malaysia Digital (MD) initiative and Founders Center of Excellence (FOX) have paved the way for the business to effectively establish itself as a provider of integrated automation, digitalisation solutions and engineering services.

“Thanks to MDEC and the positive outlook in the semiconductor market, we’re now strategically positioned to benefit from the more widespread adoption of emerging technology such as AI, IoT, 5G and EV [artificial intelligence, the internet of things, 5G wireless and electric vehicles]. We’re aiming for [BURSA Stock Exchange] listing by this year to grow and capitalise these market opportunities,” DK said. ”MDEC is very eager to help and assist.”

That, too, has been the experience of Datuk Alan See, the co-founder of Firmus, whose early challenges included attracting talent to the growing cybersecurity company. As the business gained a reputation in the country and across the region, he found that instead of losing staff to the ‘big four’ and multinational corporations (MNCs), he retained them. That was reflected in Firmus winning the Human Resource Development Corporation’s Best Employer Award in 2023 in the Small Medium Enterprise (SME) Employers category.

The help available from MDEC is designed to facilitate changes specifically required by the growing business, whether or not those requirements are technological. Often, what the entrepreneur needs might seem mundane but is actually crucial for business growth, such as improving human resource (HR) processes, getting financial filing advice, or developing a robust export strategy.

“They provided great assistance in facilitating our pioneer status applications in the early years. We also secured some development grants. It is a great agency that has helped and guided us in our research processes,” DK said.

Firmus approached MDEC without needing specific financial support. In its 16-year history, the cybersecurity business has been entirely funded by its existing shareholders. “Thanks to MDEC’s FOX programme, we’ve gained access to a wealth of regional business expansion opportunities, business matching services and valuable business coaching. Our vision is to grow into a MYR 100 million revenue company within the next two years. We are considering options such as going public through an initial public offering (IPO) or exploring potential mergers and acquisitions.”

MDEC’s FOX programme methods reflect a community-based approach to improvements that benefit all and thereby bring positives to the larger economy. “The government is also interested in assisting with an innovation-based approach, and it knew where Sophic wanted to develop. MDEC’s strategy is create wins for the entire ecosystem. I believe that is the perspective that comes strongly from the government.” DK said.

If we consider the financial sector’s well-being the bedrock of the local economy, it’s in the Malaysian government’s interest to ensure that the sector’s systems are run securely and with proper oversight of statutory governance. Sixty per cent of Firmus’ income comes from financial service institutions, protecting them with technologies that enable data loss prevention, governance risk and compliance, endpoint protection, and PAM (privileged access management) facilities. It also offers cybersecurity services like penetration testing, compromise assessment, incident management, tabletop cyber-drill exercises, Bank Negara Malaysia Risk Management in Technology (BNM RMIT) compliance and ISO 27001 Information Security Management System (ISMS) consulting, to name a few elements of its portfolio.

Sophic, in turn, develops strategies for customers in different stages of their industrial automation journeys. Some are larger concerns that wish to extend existing systems, while others’ operations are still very much manual. Sophic works in all areas of industrial system design and automation, from back-office software to shop floor robots to equipping staff with wearable technology that makes the workplace safer and more efficient.

“Most of our customers have already established certain automation systems, for sure. They come to us with problems they want solutions for, particularly in enabling automation and digitalisation in their overall operations. Some customers come with specific needs, such as those in the medical devices sector, and we also have semiconductor customers. It’s still up to us to propose a sensible solution to solve their problems,” DK told us.

Both companies are achieving significant growth and have evolving strategies to keep that momentum. Adaptability and speed of change are keys to success, according to Datuk Alan See. “Entrepreneurship is a journey filled with ups and downs. Be prepared to pivot your idea, adapt to changing market conditions, and learn from failures,” he said. “Flexibility and the ability to iterate on your ideas based on feedback and new information are essential for long-term success.”

As is the case in many stories about the information technology (IT) sector at present, the growing role of AI will have more effect on every workplace. Working out how the technology will be best implemented in each case is not just complex, but there’s a sense of sudden forward momentum as companies vie for competitive advantage. DK says, “There are more digital solutions available now with AI implementation. In fact, AI will create more urgency for all companies’ operations to boost their efficiency and improve their overall business competitiveness.”

The potentially exponential changes that technologies like machine learning are going to bring mean that technology-first companies like Firmus and Sophic will be there to enable and support business growth in the foreseeable future. To ensure that business leaders remain adaptive and can progress in a rapidly changing world, it’s important to keep both minds and ears open, Datuk Alan See told us:

“Surround yourself with supportive mentors, advisors like MDEC and peers who can provide guidance, feedback, and support. Networking within your industry can open doors to new opportunities, partnerships, and resources. Don’t hesitate to seek advice from experienced entrepreneurs who have been through similar challenges.”

For these two companies, the support offered by MDEC’s FOX programme has been pivotal, helping them develop better business practices and drive growth as the region continues its digitalisation journey.

The post Safer Automation: How Sophic and Firmus Succeeded in Malaysia with MDEC’s Support appeared first on TechWire Asia.