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Society Pass Inc’s (Nasdaq: SOPA) 2Q/1H 2023 Financial Results Illustrate Continuing Breakneck Revenue Growth and Exceptional Profit Margin Expansion; Confidently Forecasts Achieving Cash Profitability in 2H 2023

Recognises 348% Year on Year Revenue Growth for 1H 2023;
Gross Margin Increases to 29.9% in 2Q 2023 from -1.6% in 2Q 2022

Society Pass Incorporated (Nasdaq: SOPA) (SoPa), Southeast Asia (SEA)’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces unaudited financial results for second quarter ended 30 June 2023 and a filing of its 2Q 2023 Form 10-Q with the Securities and Exchange Commission (SEC).

Click Here (on SEC website) to view 2Q 2023 Form 10-Q filing.

Summary Points:

With cash on hand of $10.8 million (approximately $0.38 per share) and book value of $12.7 million (approximately $0.45 per share) on 31 March 2023,SoPa is well capitalised for continuing acquisitions of SEA companies in itsdigital advertising, travel, lifestyle, telecommunications, and loyalty/fintech verticals for the rest of 2023.
1H2023 revenues grew 348.0% year on year (from $944,152in 1H 2022 to $4,229,812 in 1H 2023).
2Q2023 revenues grew 338.3% year on year (from $499,062in 2Q 2022 to $2,187,232 in 2Q 2023).
2Q2023 revenues grew 7.1% quarter on quarter (from $2,042,580in 1Q 2023 to $2,187,232 in 2Q 2023).
1H2023 gross profit grew to $1,263,396 from a 1H 2022 gross loss of$14,931.
1H2023 gross margin improved to 29.9%from 1H 2022 gross margin of -1.6%.
2Q2023 gross profit grew to $577,159 from a2Q 2022 gross loss of $138.
2Q2023 gross margin improved to 26.4%from 2Q 2022 gross margin of 0.0%.
While 1H 2023 revenues grew 348.0% year on year, 1H2023 cash operating expenses declined 28.0% year on year (from $7,864,068 in 1H 2022 to $5,663,264 in 1H 2023).
While 2Q 2023 revenues grew 338.3% year on year, 2Q2023 cash operating expenses declined 51.9% year on year (from $4,891,352 in 2Q 2022 to $2,350,345 in 2Q 2023).
While 2Q 2023 revenues grew 7.1% quarter on quarter, 2Q2023 cash operating expenses declined 29.1% quarter on quarter (from $3,312,918 in 1Q 2023 to $2,350,345 in 2Q 2023).
1Q2023 digital advertising revenues represent 62.9% of total revenues and grew 17.7% quarter on quarter from ($1,283,774 in 1Q 2023 to $1,510,960 in 2Q 2023).
1Q2023 travel platform revenues represent 23.8% of total revenues and grew 14.2% quarter on quarter from ($486,707 in 1Q 2023 to $556,042 in 2Q 2023).
SoPa completed the following acquisitions in 2Q 2023:VLeisure, Vietnam’s leading provider of hotel management and payment solutions; andNewave, an Indonesia-based KOL management agency. In addition, SoPa announced the acquisition of PT Inetindo Infocom, a subsidiary of Story-I Limited, a leading Indonesia-based retailer of Apple products, for a total consideration of approximately $1.85 million. Management expects the PT Inetindo Infocom acquisition to close in September 2023.
Since inception, SoPahas onboarded approximately 3.3 million registered consumers, approximately 650,000 registered merchants/brands and approximately 10,000 influencers onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.
SoPa operates six verticals in SEA:digital advertising, travel, lifestyle, loyalty, food & beverage delivery and telecommunications,
SoPa operates infive SEA countries: Singapore, Vietnam, Indonesia, Philippines and Thailand.
SoPa employs approximately 225 people throughoutSEA.

Raynauld Liang, Society Pass Inc Chief Financial Officer, explains, “Our continuing breakneck revenue growth and exceptional profit margin expansion, as evidenced in the Company’s second quarter 2023 financial performance, substantiate our acquisitions-focused business plan to build the next generation digital ecosystem and loyalty platform here in SEA. Despite 1H 2023 revenues growing 348% year-on-year in the five largest economies of SEA, our 1H 2023 cash operating expenses DECLINED by 28%. Just as importantly, our profit margins are dramatically improving on a year-to-year basis. We realized 29.9% gross margins in 1H 2023, up from a negative 1.6% grow margins in 1H 2022.

Mr Liang elaborates, “I note that our two main subsidiaries, Thoughtful Media and NusaTrip, were only acquired in 2H 2022. Yet, in just under 12 months, both subsidiaries now contribute more than 90% of SoPa’s revenues. I expect both subsidiaries to materially contribute to the Group’s revenues and profits in 2H 2023. Our third biggest subsidiary, NextGen Retail, announced the acquisition of a large retailer of Apple products in Indonesia. I expect NextGen Retail to grow much quicker in 2H 2023. Finally, with the Singapore launch of our SoPa Loyalty App Launch in June 2023, we have put the final piece of the puzzle in building out our business plan. The synergies generated between our loyalty platform and our subsidiaries will translate into significant revenue generation going forward. With the continuing performance in our three big verticals, we confidently project attaining cash profitability sometime in 2H 2023.”

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operatesThoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network;NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform;Pushkart.ph, a popular grocery delivery company in Philippines; and NextGen Retail, a Indonesia-based e-commerce platform.

For more information on Society Pass, please visit:

Website at https://www.thesocietypass.com or

LinkedIn at https://www.linkedin.com/company/societypass or

Facebook at https://www.facebook.com/thesocietypass or

Twitter at https://twitter.com/society_pass or

Instagram at https://www.instagram.com/societypass/.

Use of Non-GAAP Financial Measures

In addition to financial information prepared in accordance with U.S. GAAP, this document also contains certain non-GAAP financial measures based on management’s view of performance including cash operating expenses. Management uses such measures internally for planning and forecasting purposes and to measure the performance of the Company. We believe these adjusted financial measures provide useful and meaningful information to us and investors because they enhance investors’ understanding of the continuing operating performance of our business and facilitate the comparison of performance between past and future periods. These adjusted financial measures are non-GAAP measures and should be considered in addition to, but not as a substitute for, the information prepared in accordance with U.S. GAAP. When preparing these supplemental non-GAAP financial measures, we typically exclude certain GAAP items that management does not consider to be normal, recurring non-cash operating expenses.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “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. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC as well as anticipated sales growth in Indonesia and the growth of the Indonesian economy. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:

Rokas Sidlauskas

Chief Marketing Officer

rokas@thesocietypass.com

Trescon ABC: Embracing the Future of Innovation and Digital Transformation

The World AI Show, World Blockchain Summit and World CX Summit (#TresconABC), concluded on 3^rd August 2023 with thought-provoking discussions, futuristic innovations, and actionable insights at the Marina Bay Sands Expo and Convention Centre in Singapore.

With over 1500+ C-level attendees, 100+ speakers, 200+ investors, and 75 exhibitors spread across three dedicate expo zones, the event provided a spectrum of innovations that are pushing Singapore and the APAC region towards a decentralised digital future.

Naveen Bharadwaj, CEO of Trescon expressed delight on how Trescon ABC is becoming a key platform for innovators and tech titans to accelerate the adoption of net-gen emerging tech solutions. He said, “As the dynamic world of technology continues to evolve, it is our responsibility to empower businesses to navigate the waves of transformation with confidence.”

With agendas cantered around on exploring key topics, including the future of AI-powered technologies, blockchain-backed solutions and CX technologies, to create a seamless digital transformation journey in the present dynamic digital landscape.

Mithun Shetty, Vice Chairman, Trescon, said,” Trescon ABC serves as a key catalyst that fosters a spirit of collaboration and innovation while driving the world closer to a decentralised and digital future.”

Day 2 of Trescon ABC events was packed with engaging keynote presentations and captivating panel discussion with a purpose of pushing the conversation further towards the adoption of these new-age emerging tech solutions.

One of such session was the fireside chat from the World AI Show on ‘Building Trustworthy and Ethical AI: Addressing Privacy and Security Challenges’. The chat moderated by Dr. James Ong, Founder & Managing Director, Artificial Intelligence International Institute (AIII), explored the role of AI in detecting and mitigating cyber threats and data breaches. The panellists, Jeffrey Lim, Director, Joyce A Tan & Partners LLC, Mark G. KOH, Secretary General, Central and Eastern European Chamber of Commerce in Singapore and Jenny Tan, President, ISACA SG Chapter, shared some key insights on how to strengthen trust and transparency among all stakeholders and customers.

Another noteworthy session was the fireside chat on ‘Women in Blockchain: Pioneering the Future of Decentralized Technologies’. The engaging conversation between Fiona Murry, Head of APAC Sales, Ripple and Sonny Mohanty, VP APAC, Nordek, explored the growing contribution by women in the blockchain industry and the future opportunities for women in the industry.

At the World CX Summit, it was great to witness an engaging session on ‘Embracing the Future of CX: Designing a new era of Innovation ‘. The panel moderated by Babul Balakrishnan, Global Head of Customer Care, Thunes, elaborated on how a customer-first strategy can be utilized to drive loyalty, retention and advocacy. The panellists, Sachin Sharma, Chief Product & Commercial Officer, Standard Chartered Bank nexus; Gabriel Lazaro, Head of Digital, Overseas General Insurance, Chubb; Adil Antia, Vice President, Technology & Solutions, FPT Asia Pacific; Joey Tan, Head of Customer Experience (CX), GXS; Sushil Katdare, CX Director, Greater China & Intercontinental Region, GSK, presented their invaluable insights on leveraging customer data insights for personalization.

Expressing his experience on being a part of the World AI Show, Andy Ta Wee An, Chief Data Officer & Director, Data Analytics & AI (DNA), Synapxe, said, “It was a privilege to be part as a panellist and share my experience at #WorldAIShow. During the session, I shared my views on how AIOPS can be applied to systems, business as well as individual tasks.” He further added,” It is important to understand the considerations for each setting and experiment tools, data and practices to make them “quiet norms” to improve workflow processes for better patient outcomes.”

Sharing his experience on being a part of the World Blockchain Summit, Chin Tah Ang, General Manager, Singapore, Crypto.com, said” The experience at the summit was wonderful. I had the opportunity to meet great people, and the panel discussion was very interesting.”

Attending the World CX Summit, Thiam Kee (Scott) Tan, Product Owner, Core Experience, ShopBack, spoke at length on the impact of the platform that Trescon ABC provides. He said, “It is an interesting combination of events, adding diversity to the topics It was wonderful to learn and interact with industry practitioners and solution provider, to understand how they work, and insights on how they address the challenges.”

As Day 2 came to a close, the World AI Show, World Blockchain Summit and World CX Summit (TresconABC), preparations are underway to bring another exciting edition that will empower businesses with next-gen tech solutions and give them a sneak peek of the future.

Building on the successes of bringing cross industry technology leaders together, Trescon is excited to announce the inaugural edition of the Digital Acceleration and Transformation Expo (DATE) at Delhi in November this year. The event underscores India’s innovative temper while establishing a platform that will foster collaboration, knowledge-sharing, key insights that will have a key impact on India’s innovation ecosystem. The event will feature a diverse range of sessions, panel discussions, and interactive workshops, covering topics such as AI, ML, blockchain, cybersecurity, cloud, fintech, greentech, and more. For more information on how to be involved with DATE, visit: https://datewithtech.com/

The Trescon ABC events were supported by:

Supporting Partner – EDBI and She Loves Data
Community Partner – Cyberverse Foundation, APAC DAO, Binance Viet Nam, She Loves Data
Innovation Partner – Karnataka Digital Economy Mission
Platinum sponsor – Dataiku, Tech Mahindra | Altair, Medallia
Gold Sponsor – Singlestore, PHOENIX, TELESIGN, Contentsquare, Braze, Locobuzz, Kore.ai
Silver Sponsor – Aidetic, HUMBL, MILLIONERO, GPTCoin, FUTURECX, Metapark, Servicenow, Acquia, Sitecore | FPT, Survey2Connect
Bronze Sponsor – WNS – Vuram, Squirro, neo4j, MIMO, ZOKSH, Zegocloud, InMoment
Lead Sponsor: FIRDAOS
Presenting Partner: NORDEK
After Party Sponsor: U2U FOUNDATION
Pitch Partner: U2U FOUNDATION, FLOIN
Exhibitors: SINGAPORE BLOCKCHAIN INNOVATION PROGRAMME, MRMINT, ESPSOFTTECH, KoinBX, Collectors, Corsight AI
Official Content Distribution Partner: Zex PR Wire
Official Event App Partner: Crowdcomms
Association Partner: WOMEN IN BLOCKCHAIN ASIA
Executive Roundtable Sponsor – Insider

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership.

Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon visit: www.tresconglobal.com.

For further details about the announcement, please contact:
Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com

Digital Transformation Summit, Egypt

Egypt is actively pursuing a robust strategy to modernise its governmental services and community ecosystem, ushering in a fully digital and data-driven paradigm. This transformation aims to boost accessibility and efficiency in line with Vision 2030’s overarching goals.
As Egypt accelerates its comprehensive digitalization across industries, leaders in Digital Transformation seek insights from industry experts to leverage optimal IT strategies.

Technologies like IoT, AI/ML, Hybrid Cloud, and Cybersecurity play vital roles in value chains, urging enterprises to prioritise best practices for sustainable growth amidst the current landscape.

Driven by the Ministry of Communications and Information Technology (MCIT), Egypt’s proactive strategy is shaping “Digital Egypt.” This blueprint aims for a seamless transition to a digitally empowered society, with pillars of comprehensive digital transformation, skilled workforce nurturing, and continuous digital innovation. These tiers modernise technology, empower citizens with essential skills, and position Egypt as a global hub for pioneering digital advancements.

The 22nd Edition of Digital Transformation Summit in Egypt serves as a hub for dynamic discussions addressing pressing challenges through digitization. With a carefully curated agenda, it features panels, keynotes, Q&A sessions, and presentations. The event focuses on existing and anticipated obstacles, spotlighting innovative technologies for sustainable business scaling.

The summit will cover a wide range of topics including:
– Developing Egypt’s digital infrastructure.
– Benchmarking digital Government in strategies in Egypt.
– Industries in transformation : Driving efficiency & resilience by leveraging intelligent automation.
– Shaping the future of digitization in Egypt with cloud.
– Safeguarding organizations from Cyber threats : Securing the digital transformation.

Get ready to hear from these distinguished professionals:
– H.E. Khaled, El-Attar Vice Minister – Digital Transformation, Automation and Administrative Development Ministry of Communications and Information Technology (MCIT) Arab Republic of Egypt.
– Anthony Samir Foua, Head Of Cybersecurity Unit Ministry Of Health And Population Arab Republic Of Egypt.
– Dr. Medhat Nafei, Chairman Arab Alloys Former Deputy Minister Of Supply And Internal Trade Arab Alloys.
– Dawlat Hashem, CIO Egyptian Natural Gas Holding Company (EGAS).
– Ahmed Beshear, Chief Security Officer AXA Bank Egypt.
– Mohamed Mostafa, Regional Chief Information Security Officer Egyptian Arab Land Bank.
– Germin Abouel Atta, Chief Information Officer (CIO) The British University In Egypt.
– Adham Fouad ElSherif, MBA,CISSP Head Of Network And Security Blom Bank.
– Waseim Mahjoub, Director Of Data And Analytics B.Tech.
– Ahmed Emam, Board Member Egyptian Fintech Association.
– Shaimaa Ismail, Chief Marketing Officer L’Oreal Egypt.
– Ahmed Sabry ElShafiey, Group Digital Transformation Director Hassan Allam Holding.

Who can Attend?
The Digital Transformation Summit, Egypt is open to CIOs, CTOs, CISOs, Chief Digital Officer, Chief Data Scientist, Head of Digital Transformation, Head of Data Engineering/Data Science and Analytics from a variety of industries, including Government, BFSI, Telecom, Education, Healthcare, Manufacturing, Logistics & Supply Chain, Ecommerce & Retail, Oil/Energy and Utilities, & Life Transport & Logistics.

For more information on the Digital Transformation Summit, Egypt, you can visit:
https://digitransformationsummit.com/egypt/

About Exito

Exito, which means success in Spanish, embodies our commitment to the success of our customers. Each year, we host over 240 virtual and in-person conferences globally, bringing together audiences with world-class thought leaders and C-level executives across industries. Our meticulously crafted agendas, based on extensive research and valuable industry insights, facilitate business, knowledge transfer, deal flow, and impactful messaging for brands.

Contact: Mithun Gopinath,
Manager-Projects,
Exito Media Concepts
mithun.gopinath@exito-e.com

Society Pass Inc (Nasdaq: SOPA) Announces Payments Partnership with 2C2P to Enhance the Online Shopping Experience in Southeast Asia

Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next-generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announced a strategic payments partnership with 2C2P, a global full-suite payments platform headquartered in Singapore, to drive e-commerce shopping in SEA. Through this partnership, Society Pass’s loyalty application would be able to offer 2C2P’s wide array of alternative payment options to customers based in the Philippines and Indonesia.

2C2P operates payment services in eight markets across Asia and supports over 250 payment options, from cards to cash to e-wallets. Over the years, 2C2P has established and nurtured an extensive network of partners globally, adhering to local and international regulatory compliance standards. The current network includes all major local and international credit cards, over 17 major digital wallets and QR payment platforms, and various alternative payment methods. 2C2P’s customers can use their preferred payment method via cards, digital wallets, or over-the-counter at over 400,000 locations in Asia. The extensive payment solutions meet the needs of businesses from diverse sectors, including airlines, insurance, marketplaces, retail, F&B, and hospitality.

Amidst the pandemic and its recovery, the adoption of digital payments in the region has accelerated while cash usage has continued to decline. Propelled by a surge in digital commerce and government incentives/initiatives, providers of domestic payments, mobile wallets, and buy-now-pay-later (BNPL) operators, are all witnessing increased adoption by businesses. Forecasts suggest SEA’s digital economy is experiencing impressive growth rates from 2021 to 2026E and will outpace China, Europe, and the US. According to an IDC InfoBrief commissioned by 2C2P, SEA’s digital economy spending will rise by 121% by 2026, and digital payments will reach 92% of total digital economy payments by 2026, up from 80% in 2020.

Rokas Sidlauskas, Chief Marketing Officer of SoPa, commented, “We are excited to announce this strategic payments partnership with 2C2P as it enables Society Pass to offer more flexible and convenient methods to pay for goods and services within our ecosystem to our customers. By integrating leading Southeast Asia digital e-wallets such as AliPay (regional), Touch n’ Go (Malaysia), Momo (Vietnam) or GCash (Philippines) just to name a few into our ecosystem, Society Pass enables millions of customers to access our platforms, ranging from travel (NusaTrip), to e-commerce (Leflair.com), to telecoms (Gorilla Networks), and to digital advertising (Thoughtful Media Group). This is especially important considering that we operate in Southeast Asian markets, where unfortunately, over 75% of people are unbanked and do not possess debit or credit cards”.

Mr. Sidlauskas added, “In partnering with 2C2P, we automatically increase the potential customer-base within Southeast Asia by millions of potential users. We are excited by the prospect of adding value by offering our services to them”.

Rachelle Alexis Lim, Executive Director of 2C2P, said, “As we embark on this strategic partnership with Society Pass, we look forward to enhancing the payments experience of SOPA’s consumers across SEA. This collaboration with SoPa aligns perfectly with our mission to drive e-commerce growth in the region and globally, revolutionising how people transact and unlocking the potential of the digital economy for all”.

About 2C2P

2C2P is a full-suite payments platform helping the world’s leading enterprises securely accept and make payments through one point of integration. Its far-reaching network extends across online, mobile and offline channels including over 400,000 alternative payment locations, enabling enterprises to reach their customers or recipients anywhere. 2C2P also provides value-added services such as issuing, 3D Secure, bill payments and digital goods to meet every business need.

The company is headquartered in Singapore and operates globally. It is the preferred payments platform of tech giants, online marketplaces, retailers and other global enterprises.

For more information on 2C2P, please visit: https://2c2p.com/

About Society Pass Inc.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; and Pushkart.ph, a popular grocery delivery company in Philippines.

For more information on Society Pass, please visit:

Website at https://www.thesocietypass.com or

LinkedIn at https://www.linkedin.com/company/societypass or

Facebook at https://www.facebook.com/thesocietypass or

Twitter at https://twitter.com/society_pass or

Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

Media Contacts:

Rokas Sidlauskas

Chief Marketing Officer

rokas@thesocietypass.com

Trescon ABC: Unveiling a Symphony of Innovation and Digital Transformation

Singapore witnessed a successful convergence of global tech leaders, cutting-edge innovation and insightful deliberations on the latest trends that dominate the emerging technology space. Day 1 of the World AI Show, World Blockchain Summit and World CX Summit (#TresconABC) concluded with resounding success at the Marina Bay Sands Expo and Convention Centre, whetting the appetite of attendees for an even more exciting Day 2.

With a surge in the digital transformation of services and integration of AI, CX, Cloud and blockchain-based solutions, the co-located events served as key catalysts for innovators to connect, network and collaborate with top tech titans and C-level decision-makers.

Naveen Bharadwaj, CEO of Trescon, highlighted during opening address “With over 1500+ key C-level attendees, 100+ speakers, 200+ investors and 75+ exhibitors spread across 3 dedicated expo zones, this platform is a showcase of path-breaking advancements that are propelling the APAC region and Singapore towards a digitised future.” The insightful discussions led by industry titans focused the spotlight on business growth strategies using real-world use cases.

The deliberations ranged from the future of customer experience, embracing the rise of green and sustainable CX, AI-enhanced digital transformation, decentralised finance and its impact on traditional finance and more.

Expressing his excitement Mithun Shetty, Vice Chairman of Trescon, said ” I am proud that Trescon’s platforms are becoming the melting pot for industry experts and disruptors together to pave the way for a decentralized and tech-driven future.”

Day 1 of Trescon ABC events were filled with noteworthy panel discussions and exciting keynotes that further the conversation regarding these emerging tech solutions.

One such discussion was the panel discussion on ‘The Synergy of Digital Transformation and AI’ at the World AI Show moderated by Serene Keng, Director, Value Creation and Communications, EDBI, examined the role of AI in democratizing access to technology and services. The panellists, Dennis Lui, Chief Executive, VITAL (Ministry of Finance); Bala Chandrasekaran, MD-Digital Strategy & Transformation and Chief Digital Office-Asia, Marsh McLennan; Andy Ta Wee An, Chief Data Officer & Director, Data analytics and AI (DNA), Synapxe; and Mark G. KOH, Secretary General, Central and Easter European Chamber of Commerce in Singapore, presented their invaluable views on how AI-powered analytics, personalisation, and customer journey mapping can drive superior customer experiences and loyalty.

Another noteworthy session from the World Blockchain Summit was the fireside chat on ‘Decentralized Exchanges (DEXs): Trends and Challenges” between Brian Kuttikkat, COO, India, KoinBX and Jacqueline Rachelle Yee, Chief Investment Officer – ABE Capital Markets, Australian Bond Exchange. During the conversation they provided great insights on the challenges of dynamic liquidity in DEXs.

At the World CX Summit, it was great to witness an engaging panel discussion on ‘Frictionless Customer Experience with Digital Transformation’. The panel moderated by Patricia Mulles, Director and Global Head of Partnerships, She Loves Data, drove the focus on how to create a more personalised and efficient experience with Big Data and Analytics. The panellists, Natalia Goh, Chief Operating Officer, Trust Bank; Prem Ganesan, Director, Customer and Industry Workflows, Service Now; Nikki Taylow, Marketing Growth Strategy Directo, AMEA, UPS; Jerry Lim, Regional Head of Grab Support, Grab Holdings Inc.; Soo Huat Chew, Head, Biz Initiative and Enablement, DBS Bank, gave great insights on omnichannel strategies in the age of digital transformation.

Serene Keng, Director, Value Creation & Communications, EDBI sharing her experience at the World AI Show said, “Trescon’s World AI Show is a great platform to participate for a good blend of thought-provoking conversations, innovative ideas and diverse networking opportunities. I had a lot of fun connecting with key industry professionals, deepening the discourse around AI’s impact on businesses. Looking forward to future collaborations that spark progressive dialogues in the AI landscape.”

Katja Forbes, Head of Client Experience CCIB, Standard Chartered Bank, attending the World CX Summit drove focus on ethical use of technology. She said,” Innovation can’t be blind to its consequences. It’s our responsibility to anticipate the morally ambiguous and avoid unintended consequences. Let’s deliberate in shaping technology for the greater good.”

In anticipation to what’s in store for Day 2 of the World Blockchain Summit, Nikhil Joshi, COO, EMURGO said, “Looking forward to engaging with peers on challenges faced by the industry, how we might overcome them, and what fruits might we expect for our labours.”

After the resounding success of Day 1 of the World AI Show, World Blockchain Summit and World CX Summit (#TresconABC), the anticipation now builds for Day 2 that promises a sneak peek into the future of these new-age emerging tech based solutions.

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership.

For further details about the announcement, please contact:
Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com

Digital Transformation Summit: Cairo, Egypt

Digital technologies are at the core of successful digital transformation processes. As these technologies rapidly expand and integrate into various sectors, businesses are reshaping their models to achieve their goals. However, ensuring the security of an organization’s digital environment is a critical component of effective Digital Transformation implementation. With the escalating frequency of cyberattacks, cybersecurity technology has become indispensable for all organizations.

In Egypt, a robust strategy is being adopted to transform government services and the community ecosystem into a fully digital and data-driven system, expediting public service delivery. As business value chains rely increasingly on technologies such as IoT, AI/ML, Hybrid Cloud, and Cybersecurity, enterprises must embrace best practices to drive sustainable growth. Emphasizing cybersecurity amid these developments is crucial to secure and propel Egypt’s digital transformation journey.

The 22nd Digital Transformation Summit, hosted in Egypt, is a prestigious event dedicated to in-depth discussions on the critical challenges that can be addressed through efficient digitization. This highly anticipated summit offers a meticulously crafted agenda, featuring thought-provoking panels, insightful keynotes, interactive Q&A sessions, and impactful presentations. The focus is on both current and anticipated challenges, shedding light on cutting-edge technologies and sustainable solutions that empower businesses to thrive.

Who can Attend?

The Digital Transformation Summit, Egypt is open to CIOs, CTOs, CISOs, Chief Digital Officer, Chief Data Scientist, Head of Digital Transformation, Head of Data Engineering/Data Science and Analytics from a variety of industries, including Government, BFSI, Telecom, Education, Healthcare, Manufacturing, Logistics & Supply Chain, Ecommerce & Retail, Oil/Energy and Utilities, & Life Transport & Logistics.

For more information on the Digital Transformation Summit, Egypt, you can visit
https://digitransformationsummit.com/egypt/

About Exito

Contact: Mithun Gopinath,
Manager-Projects,
Exito Media Concepts
mithun.gopinath@exito-e.com

BFSI IT Summit, Mumbai to Hold Physical Conference on 9-10 August 2023

The BFSI sector plays a crucial role in any economy, integral to maintaining smooth economic functioning. In India, the “Digital India” initiative sparked significant change in the banking and financial sectors, driven by technological advancements and fintech innovation. This advancement in financial institutions has shifted the focus from product-centric to customer-centric approaches, revolutionising financial services and banking practices.

The widespread use of digital payments, particularly through QR codes and the Unified Payments Interface (UPI), has formalised the digital economy, with 93% of payments completed digitally last year. Altogether, there has been a downfall in card usage and cash transactions as a whole. With approximately 260 million users adopting digital payments, the alliance between fintech and banking services is reshaping the financial landscape. These emerging trends are expected to impact the future operations of these industries profoundly, paving the way for further growth and progress in the Indian economy.

19th Edition of Exito’s BFSI IT Summit is the premier in-person conference that brings together Technology Leaders within the BFSI industry. This summit serves as a specialized learning and networking platform designed to extensively explore the pressing challenges confronting BFSI sectors and discover optimal strategies to overcome them. The event aims to foster insightful discussions, share best practices, and facilitate collaborative solutions, ultimately promoting growth and innovation in the financial services and banking technology landscape.

Don’t miss the opportunity to learn from these esteemed Industry Experts:
– Arpanarghya Saha, Chief Digital Officer Nippon India Mutual Fund.
– Ramesh Narayanaswamy, Chief Technology Officer Aditya Birla Capital.
– Anil Kuril, Chief Technology Officer Union Bank Of India.
– Srikanth Gopalakrishnan, CIO for People, Procurement, Legal and Head of the India Technology Centre Deutsche Bank Group.
– Dr. Sourav Dutta, Executive Director & Head IT IDBI Bank.
– Ashutosh Mishra, Chief Risk Manager National Bank For Agriculture & Rural Development ( NABARD).
– Abhijit Dey, Vice President – Product Head API Banking Axis Bank.
– Vivek Zakarde, Senior Vice President (Head – Analytics-RACC) From a Leading Bank.
– Lincy Therattil, Head Of Open Innovation And Fintech Platform, Rise India Barclays.
– Aastha Arora, Learning & Development Consultant The London Institute of Banking & Finance India.
– Abhineet Sarkar, Digital Innovation Leader Tata AIA Life Insurance.
– Renu Singh Trainer The London Institute Of Banking & Finance India

Featured Topics at the Event:
– Technology Augmentation in the BFSI industry – Impact on the Indian Economy
– Advancing the Digital Economy and Finance.
– Blockchain the next big thing in India?
– The future of banking – Digital, Invisible and Connected.
– Unlocking Innovations in the Insurance Sector
– Improving the digital customer experience
– Climbing towards advancements in Open Banking.
– Fintech reshaping the Future of Finance
– India’s Future of Insurance in a Data-Driven World.
– Ameliorating the future of cloud in the Indian BFSI Industry
– Advancing Cyber Security – Securing BFSI as it moves further into digital transformation.

Who will attend?

The BFSI IT Summit will be attended by top executives and leaders like Chief Information Security Officer, Chief Information Officer, Chief Technology Officer, Chief Information Security Officer, Heads of Cyber Security, Head of IT Infrastructure and Chief Digital Officer from a variety of industries including Public Banks, Foreign banks, Fintechs & Neo Banks, Microfinance Companies, General Insurance Firms, NBFCs, Mutual Funds, Regional Rural Banks, Health Insurance Companies, Private Banks, Asset Management Companies and Commercial Banks.
For more information on BFSI IT Summit: Mumbai, you can visit https://bfsiitsummit.com/india/

About Exito

Contact: Mithun Gopinath,
Manager-Projects,
Exito Media Concepts
mithun.gopinath@exito-e.com

CleverTap Partners with SpiceJet to Deliver a Seamless Customer Experience

CleverTap, the all-in-one engagement platform, announced its partnership with SpiceJet, one of India’s premier airlines. This strategic collaboration will empower SpiceJet to enhance its customer experience by leveraging CleverTap’s advanced technology to deliver personalized and contextual communication across its web and mobile channels.

As a prominent player in the airline industry, SpiceJet is dedicated to providing exceptional services and experiences to its customers. With CleverTap onboard, SpiceJet aims to take its customer engagement to new heights, ensuring every interaction is meaningful and tailored to individual preferences.

CleverTap’s robust platform offers an array of cutting-edge features designed to optimize customer engagement. By harnessing CleverTap’s capabilities, SpiceJet will be able to analyze customer data, create comprehensive user profiles, and deliver engaging experiences thus maximizing the lifetime value of their customers. This personalized approach will not only enhance customer satisfaction but also foster long-term loyalty.

“At SpiceJet, our foremost commitment is to provide our customers with the finest personalized experience,” said Debojo Maharshi, Chief Business Officer at SpiceJet. “Our collaboration with CleverTap will further enhance this objective. By joining forces, we take a remarkable stride forward in enhancing customer engagement and retention. With CleverTap’s assistance, we can now deliver timely and precisely targeted communication to our passengers, ensuring that their journey with us remains seamless and unforgettable.”

CleverTap’s advanced customer analytics, personalization and orchestration capabilities will enable SpiceJet to send passengers personalized notifications, updates, and offers, keeping them informed and engaged at every stage. Whether it’s flight information, exclusive promotions, or personalized recommendations, customers can expect a truly meaningful experience that caters to their unique preferences and needs.

“We are thrilled to be partnering with SpiceJet, a leading airline that shares our commitment to delivering exceptional customer experiences,” said Sidharth Malik, CEO at CleverTap. “Our platform will help SpiceJet deliver personalized and contextual communication, ultimately maximizing the brand’s customer lifetime value. Our AI-driven hyper-personalized insights will help SpiceJet gain a deeper understanding of their user base, further solidifying their brand-to-customer relationship.”

The partnership between CleverTap and SpiceJet signifies a significant step forward in revolutionizing customer engagement within the airline industry. By leveraging CleverTap’s state-of-the-art technology, SpiceJet will deliver seamless, personalized, and contextual communication, setting new standards for customer experiences in the aviation sector.

About CleverTap

CleverTap is the all-in-one customer engagement platform that helps brands personalize and optimize all consumer touch points to improve user engagement, retention, and lifetime value. It’s the only solution built to address the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation in one unified product.

The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.

CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.

Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, and CDPQ the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Singapore, and Jakarta.

For more information, visit clevertap.com or follow on LinkedIn and Twitter.

Forward-Looking Statements

Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:

SONY SHETTY
Director, Public Relations, CleverTap
+91 9820900036
sony@clevertap.com

IPSHITA BALU
Consultant Archetype
+91 95901 11798
ipshita.balu@archetype.co

Society Pass Inc’s (Nasdaq: SOPA) Travel Subsidiary, NusaTrip Inc, Acquires IATA-licensed Vietnam International Travel and Service JSC; Acquisition Adds Approximately US$2 million in GMV to NusaTrip Revenue Base

NusaTrip Inc acquires first IATA-licensed travel agency out of Indonesia;creates beginnings of regional online travel platform in SEA
The acquisition of Vietnam International Travel and Service JSC onboards approximately US$2 million of in GMV to NusaTrip Revenue Base

NusaTrip Inc (NusaTrip), the online retail arm of Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has acquired Vietnam International Travel and Service JSC (VIT), a IATA-licensed, full-service travel agency focused on marketing to the Vietnam inbound and outbound segments.

NusaTrip previously acquired VLeisure, Vietnam’s leading provider of hotel management and payment solutions, in April 2023. Patrick Soetanto, NusaTrip CEO, comments on the acquisition, “VIT is the first IATA-licensed travel acquisition we have made outside of Indonesia. Our business plan calls for acquisitions of other IATA-licensed travel agencies throughout Asia Pacific in 2023, including Philippines, Thailand, Singapore, Malaysia, Hong Kong, China, India and UAE, as we position NusaTrip to be the premier travel hub in SEA. According to Phocuswright, gross bookings in SEA by 2025 will reach 94% of the record 2019 level and digital transformation will accelerate rapidly across SEA, with online bookings more than doubling between 2022 and 2025. Effectively, the region has reverted back to pre-pandemic levels. We are growing NusaTrip at the opportune time.”

Founded in Vietnam since 2016, VIT operates inbound and outbound ticketing businesses targeted at corporate and travel tour segments. Nguyen Ngoc Minh, Founder and Managing Director of VIT, explains his rationale for selling to NusaTrip, “SoPa and NusaTrip are known leaders in the SEA and Vietnamese e-commerce and travel sectors. I am proud to sell VIT to NusaTrip as I know NusaTrip will greatly expand VIT’s business here in Vietnam. I wish both SoPa and NusaTrip the best luck going forward.”

Le Phan, NusaTrip Managing Director and VLeisure Founder, adds, “I am especially excited about this acquisition as it will only add to the breadth and depth of NusaTrip and VLeisure’s product offering in Vietnam. Statista projects the Vietnam travel market to reach US$3.0 billion in 2023. Total market size is expected to reach US$4.2 billion by 2027, reflecting an annual growth rate of 8.8%. We intend to leverage VIT’s strong presence in the corporate and tour markets here in Vietnam to drive strong revenue growth for NusaTrip in 2023.”

The Vietnam economy is the 5th largest in SEA and 34th largest in the world with a 2023 nominal gross domestic product of US$449 billion. The World Bank forecasts Vietnam’s economy to grow by 6.3 percent and 6.4% in 2023 and 2024, respectively, after a robust 8 percent in 2022.

About Society Pass Inc.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operatesThoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network;NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; andPushkart.ph, a popular grocery delivery company in Philippines.

For more information on Society Pass, please visit:

Website at https://www.thesocietypass.com or

LinkedIn at https://www.linkedin.com/company/societypass or

Facebook at https://www.facebook.com/thesocietypass or

Twitter at https://twitter.com/society_pass or

Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

Media Contacts:

Rokas Sidlauskas

Chief Marketing Officer

rokas@thesocietypass.com

mindzie Revolutionizes Business Process Improvement With New Automated Actions Engine in Its AI-Driven Process Mining Platform

mindzie’s Automated Actions will empower users to go from discovering process insights to creating customizable workflows to improve them.

mindzie, inc. (mindzie), a leading provider of Generative AI-Driven process mining and business process optimization software, is proud to announce the addition of a groundbreaking Automated Actions Engine to its flagship platform, the mindzie studio. This innovative feature empowers users to seamlessly transition from identifying process improvement opportunities to taking proactive and tangible actions, all within a single platform.

Process mining has long been recognized as a powerful tool for uncovering bottlenecks, inefficiencies, and areas of improvement within complex business processes. However, until now, organizations faced the challenge of bridging the gap between insight and action. With the introduction of the Automated Actions Engine, mindzie revolutionizes the process improvement landscape, allowing users to drive real change with unprecedented speed and efficiency.

Key features of the Automated Actions Engine include:
1. Customizable Automation Rules: The engine enables users to define personalized automation rules tailored to their organization’s specific needs. Whether it’s automating routine tasks, triggering notifications, or initiating process adjustments, the Automated Actions Engine offers unparalleled flexibility and adaptability.
2. External System Integration: Users can easily define and implement automated actions that seamlessly integrate other systems. This will enable users to schedule or trigger actions to update records within their ERP, launch RPA bots, notify managers through Slack or MS Teams, and more. Providing limitless possibilities to go from insight to action.
3. Pro-Active Process Triggers: Leveraging the power of near real-time data and advanced analytics, the engine continuously monitors process performance and triggers automated actions based on predefined thresholds or conditions. This ensures that potential issues are promptly addressed, enhancing overall process efficiency and effectiveness.

“mindzie is focused on empowering organizations with the tools they need to drive operational excellence,” said James Henderson, mindzie’s Chief Executive Officer. “With our already embedded Generative AI and now the new Automated Actions Engine, users can not only identify improvement opportunities but also take immediate action, driving efficiency, reducing costs, and enhancing customer experiences like never before. This powerful combination of AI-Driven process mining and automated actions truly revolutionizes the way organizations approach process improvement.”

The mindzie studio is available in Cloud Hosted, Enterprise On-Premise, Desktop Professional Edition, and Free Desktop Edition, allowing companies to select the platform that best fits their unique requirements.

For more information, please contact https://mindzie.com/contact/

Contact Information
mindzie media
Media Relations
info@mindzie.com
866-646-3943