OMNICHANNEL DIGITAL BANKING PLATFORM NEUXP ACCELERATES ITS LAUNCH THROUGH FINNEX, ASIA'S FIRST SPAC IN EUROPE
NeuXP is introducing Finnex, a SPAC that will ease and accelerate the launch of their upcoming digital banking platform.
NeuXP is an omnichannel digital banking platform that eases the transfer of funds for those living abroad on top of allowing users to access various lifestyle services.
Photo caption: (From left) Co-Founders Of NeuXP, Jeremy Mah, Goh Hock Seng, Benny Lee.
Kuala Lumpur, 16 April - Overseas travel in 2021 is not a priority on most of our minds as the COVID-19 pandemic has rendered the industry to come to a halt. However, experts suggest that we could see travel resume by the end of 2021. When that happens, non-residents who are international students or workers and international travellers would need to open a bank account for their daily expenses. Unfortunately, opening a bank account on foreign soil has proven to be tedious and time-consuming for non-residents.
To circumvent this issue, NeuXP is launching its digital banking platform with the goal of easing the transfer of funds for expatriates, students, and travellers. Unlike conventional digital banking solutions, NeuXP is more than just a banking app, providing users with an omnichannel experience. This means that users do not have to leave the app to access other services. The mobile application, which is set to be launched later in Q3 of 2021, will not only facilitate cash transfers but also allow users to access lifestyle services such as flight and accommodation bookings, online shopping, and more, in different currencies whilst being overseas. This makes NeuXP a truly one-stop-shop experience for target users- non-residents living in Europe, Asia as well as other regions in the future.
“Previously, travellers would need to go through the hassle of filling up documents, presenting employment/studying contracts, and verification of travel visas in order to open a bank account in foreign countries. With NeuXP, they will be able to bypass all that and get straight to accessing the services offered on our platform without the need to open a foreign bank account,“ stated Jeremy Mah, CEO, Co-Founder, and Executive Director of NeuXP.
To further accelerate the launch of NeuXP, Jeremy and his team are introducing Finnex Acquisition Corp (Finnex), a Special Purpose Acquisition Company (SPAC) built on the foundation of accelerating the launch of the all-new digital banking platform. Finnex is the first Malaysian, not to mention Asian SPAC to make its mark on the European board and is looking to be listed on the Milan Stock Exchange as early as June 2021.
Finnex’s investment projections include the acquisition of privately-owned banks and fintech companies to strategically position itself on the best course towards supporting the launch of NeuXP and the start of its operations. Moving forward, Finnex will be led by a team of qualified and experienced industry experts, including financial, fintech, Mergers & Acquisitions (M&A), legal and audit professionals with some being pioneers in the SPAC space, namely Dr Avv. Daniele D’Alvia and Prof. Milos Vulanovic, a first for a SPAC of its kind.
“Through the formation of Finnex, we will be able to acquire businesses or entities in the banking and FinTech industries, especially those that are unlisted and undervalued by the market. This is mainly due to these two sectors being highly attractive and display large growth opportunities when coupled with the right modernised and sustainable strategies. We are very grateful to have gained the trust and support of not only highly respected key opinion leaders, but also investors and shareholders who are keen on seeing NeuXP lead the way towards providing all international travellers and non-residents with more innovative services and disruptive business models in the near future,” expressed Jeremy Mah.
Though Italy and the rest of the world are still battling the pandemic, NeuXP managed to form strategic relationships with SPAC experts in Italy through countless pitches, discussions, and calls conducted virtually. Despite the distance and ongoing pandemic, the NeuXP team believes that they will be able to gain investors’ confidence in Europe with their forward-looking and long-term based approach to launch a highly integrated and innovative digital banking platform.
A Digital Banking Platform Like No Other
Standing out from other banking solutions in the market, NeuXP integrates conventional digital banking solutions and fintech solutions at the back-end to provide a fully integrated offering to the users. The end goal is to connect these solutions globally and provide users with global access in one single platform.
Already an emerging player in the digital banking space for businesses, Jeremy and his team have also introduced Biz@NeuXP which was launched in January of 2021 with the intention of serving entrepreneurs as a business automation platform to accelerate business growth in China. This complements NeuXP’s vision to transform the experience of digital banking users globally via their platform. Moving forward, the team also aims to replicate the Biz@NeuXP entry to China in other parts of the world. This digitised business automation platform will help businesses expand to other countries with ease and overcome many challenges that they may experience in many different countries.
While NeuXP has started to form collaborations with various lifestyle services and tech providers, locally as well globally such as Cloudbae and GuangXi Innovation Centre, they are looking forward to establishing more partnerships with service or tech providers, placement agencies, higher educational institutes and even government agencies that can either complement our integrated platform to help reach their target users.