Treasure Global Unveils AI-Driven ZCITY Super App, Integrating Secured Messaging, Digital Asset Wallet, and Micro-Financing Solutions Through Strategic Partnerships
Treasure Global (NASDAQ: TGL) has announced a strategic partnership with Cogia and Credilab to launch an AI-driven 'Super App' named ZCITY, which will integrate secured messaging, a digital asset wallet, and micro-financing solutions. The collaboration aims to enhance user engagement and security within the e-commerce platform. The app targets the burgeoning e-commerce and AI markets, which are expected to grow significantly by 2030. The ZCITY Super App will serve around 3 million users, leveraging advanced AI, fintech, and blockchain technologies to revolutionize the user experience and drive revenue growth for Treasure Global.
- Strategic partnership with Cogia and Credilab to enhance ZCITY Super App.
- Integration of secured messaging and digital asset wallet into the e-commerce platform.
- Enhanced user engagement and security features for around 3 million users.
- Leveraging AI, fintech, and blockchain technologies to improve user experience.
- Opportunity to capture a share of the growing global e-commerce market, projected to reach $47.7 trillion by 2030.
- Potential for significant growth in the AI market, forecasted to reach $1,811.75 billion by 2030.
- Focus on increasing revenue, user retention, and profitability through advanced AI technologies.
- Dependence on successful integration of multiple advanced technologies.
- Market competition in the AI and e-commerce sectors could impact growth.
- Potential risks associated with the adoption of new fintech solutions.
Insights
Treasure Global Inc's strategic partnership with Cogia and Credilab showcases a significant move into the rapidly expanding AI-driven fintech space. By integrating secured messaging, digital asset wallets and micro-financing solutions into its ZCITY Super App, the company aims to enhance user engagement and operational efficiency. These developments are particularly relevant given the global e-commerce market's projected growth to
In the short term, these partnerships could boost Treasure Global's stock due to increased investor interest in AI and fintech innovations. However, the real financial impact will depend on the successful implementation of these technologies and user adoption rates. Long-term, this could diversify revenue streams and enhance profitability, but it also involves substantial execution risks and potential competitive pressures within the volatile tech landscape.
The integration of AI and fintech solutions into the ZCITY Super App aligns with broader market trends in both sectors. The global AI market is forecasted to grow at a
From a market positioning perspective, Treasure Global’s approach of creating an ecosystem that leverages AI to deliver a comprehensive digital experience could differentiate it from competitors. However, achieving user retention and profitability will require continuous innovation and effective management of partnerships with Cogia and Credilab. The scalability of these solutions will be critical in capturing a meaningful market share.
Treasure Global’s integration of secured messaging, digital asset wallets and micro-financing solutions into the ZCITY Super App reflects a sophisticated use of AI and fintech. Cogia’s secure communication and cybersecurity capabilities, combined with Credilab’s fintech solutions, position the app to address critical user needs in data privacy and financial transactions. This strategic use of AI and machine learning algorithms to enhance security and efficiency is likely to attract tech-savvy users seeking reliable and seamless digital experiences.
However, the technical challenges of integrating these diverse functionalities should not be underestimated. Ensuring that AI algorithms function correctly and that data security is maintained throughout the platform will be crucial. Additionally, staying ahead of technological advancements and constantly upgrading the app will be necessary to keep pace with evolving user expectations and regulatory requirements in the fintech space.
Leading the Charge in Artificial Intelligence Market to Capture the Growing Global E-Commerce Industry
NEW YORK and KUALA LUMPUR, Malaysia, June 18, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the “Company”), a leading technology solutions provider, today announces a strategic partnership with Cogia GmbH (“Cogia”) and Credilab Sdn. Bhd. (“Credilab”) to integrate secured messaging, digital asset wallet, and micro-financing solutions in building an AI-driven “Super App”, spearheaded by the company's new leadership.
Leveraging its partnership with Cogia, the Company aims to integrate secured messaging and a digital asset wallet into its e-commerce platform, the ZCITY Super App. These features enhance user engagement and deliver a seamless, secure, and highly efficient user experience. Cogia is a Germany-based software company that offers AI-based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics, and web monitoring.
The Company collaborates with Credilab to integrate AI and fintech technologies into the ZCITY Super App, which will offer micro-financing services to its extensive user base of approximately 3 million members. Credilab is a wholly owned subsidiary of VCI Global Limited (NASDAQ:VCIG), a technology company offering proprietary fintech software meticulously designed to facilitate online loan applications, processing, scoring, contract execution, and loan disbursement, including the Know Your Customer system (KYC).
The ZCITY Super App leverages cutting-edge AI and machine learning algorithms to revolutionize the intersection of fintech and e-commerce, delivering an unparalleled user experience. By combining advanced payment gateways, digital asset wallets, and blockchain technology, the app enhances security, efficiency, and personalization in online transactions.
This synergy is crucial as the global e-commerce market is projected to reach US
"Our vision for the ZCITY Super App is to create an ecosystem that seamlessly integrates advanced AI technologies to provide users with a comprehensive digital experience. As a financial inclusion super app, it will be a catalyst for TGL’s growth in revenue, user retention, and profitability," said Carlson Thow, Chief Executive Officer of Treasure Global.
¹ https://marketingreport.one/retail/global-e-commerce-market-to-reach-47.7-trillion-by-2030-report.html
² https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market
About Treasure Global Inc:
Treasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital food and beverage management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in Southeast Asia for popular restaurant chains, while providing them with the TAZTE solution. As of May 5, 2024, ZCITY boasts over 2,699,216 registered users.
For more information, please visit https://treasureglobal.co.
Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. It is important to carefully consider statements containing these words as they discuss future expectations and plans, projecting future results of operations or financial conditions or presenting other forward-looking information. Forward-looking statements are not guarantees of future performance; they are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company. These risks and uncertainties are detailed in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023, and subsequent filings with the Securities and Exchange Commission (“SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. As forward-looking statements cannot be predicted or quantified, actual results may differ materially from those expressed or implied by such statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For further information, please contact:
Investor Contact
ir_us@treasuregroup.co
Media Contact: Sue Chuah, Chief Marketing Officer
Treasure Global Inc
sue@treasuregroup.co
FAQ
What is the focus of Treasure Global's new ZCITY Super App?
What partnerships has Treasure Global (TGL) announced?
How many users does the ZCITY Super App serve?
What technologies are being integrated into the ZCITY Super App?
What is the projected growth of the global e-commerce market?
What is the expected growth of the global artificial intelligence market?
