Mula-X, a Thai fintech company focused on improving financial inclusion for underserved communities in Southeast Asia, has been recognised with two prestigious accolades at The Global Economics Awards.
Hosted by leading financial and business publication, the Global Economics Awards identifies businesses that put their hard work into forging the best work culture for their regional and global economies. The Global Economics Awards programme serves as the epitome of the perseverance and credibility of its recipients; it recognises the best market players and aims to motivate and bolster the confidence of business enterprises.
Mula-X was presented with two awards during the ceremony held recently at Avani+ Riverside Bangkok Hotel:
● Best New End-to-End Digital Lending Platform – Thailand 2022
● Most Innovative Digital Ecosystem for Underserved – Thailand 2022
Mula-X has developed an end-to-end digital lending and learning platform underpinned by alternative data, AI/ML credit scoring methods and world-class infrastructure technologies that enable instant cash, loan and knowledge access. It aims to use these technologies to create an enabling financial ecosystem for the underserved population to access financial services quickly, easily and cost-effectively.
However, Mula-X is more than a digital lending application provider. The MULA Wallet, co-branded with 2C2P Plus (a subsidiary of global payments provider 2C2P), regulated by the Anti Money Laundering Office (AMLO) and Bank of Thailand (BOT), is at the heart of and integral to the Mula-X ecosystem. The MULA Wallet is designed to support customers to transact within the broader financial ecosystem efficiently. MULA Wallet can be used to view transaction details, pay loans, purchase goods and services, pay utility bills, top up mobile phones, and with one easy click, transfer money from the MULA Wallet to personal bank accounts. Customers can access the many financial services provided by the Mula-X ecosystem through the MULA App, available via the Apple store and Google Play store.
Lyn Kok, Founder and CEO of Mula-X, said: “Having worked in traditional global commercial banks for almost 30 years, it became evident to my Mula-X co-founders and me that many of these institutions don’t cater to large-volume, low-value customers. This means that many underserved segments of society cannot access finance easily and are often subjected to unconventional lending practices resulting in a vicious cycle of debt. Their lack of financial knowledge also contributes to them being unknowingly victimised.”
“These challenges drove me to start Mula-X, a fintech built by bankers focusing on providing financial products and financial literacy to the underserved segment. Mula-X's vision is to use technology and alternative credit scoring techniques to enable fair finance and financial freedom for underserved communities to achieve financial freedom in South East Asia.”
“I would like to thank The Global Economics for recognising Mula-X with two awards. As a business with a clear social mission, the true reward for us is seeing the positive impact our products and services have on underserved communities, but hopefully, these awards will spotlight our credibility and act as a catalyst to make our mission a reality.”
For more information about Mula-X, visit: https://mula-x.com
