Siam Commercial Bank Public : ‘FINNIX’, a Digital Lending Application

MONIX officially launches 'FINNIX', a Digital Lending Application with over 3.5 million downloads, lending over 3 billion baht to date aiming to hit 5billion baht this year

Legal Nano-finance app to eliminate loan sharking for Thai people

MONIX Co., Ltd., Thailand's leading digital loan service provider for retail customers has officially launched Digital Lending Application 'FINNIX'. After providing online lending services in Thailand for over 1 year with more than 3.5 million downloads, lending over 3 billion baht with a target of 5 billion baht by the end of 2021, FINNIX aims to be the No.1 Financial Application in Thailand and SEA region. With a high credit limit of 100K baht per account, FINNIX app can support retail customers who have no pay slips or financial statements and cannot access loan services of established banks and financial institutions. By using FINNIX,customers can apply for loan services 24/7 via their smartphone and get approval in only 5 minutes, with 2.75% interest per month. This will help small entrepreneurs and blue-collar workers better manage a financial crisis in time and eliminate unfair debts from loan sharks.

Ms. Thiranun Arunwattanakul, Chief Operating Office of MONIX Co., Ltd. said, 'At MONIX, we started with our why'what financial product can help Thai people the most?'.Since the COVID-19 situation occurred last year householddebts have increased incredibly to 90% of GDP in Q1 2021. This clearly showed us that Thais are largely lackingfinancial liquidity, especially when it comes to low-wage workers who have no pay slips or financial statements andcannot access the services offered by established financial institutes. Research has clearly shown us that there are 36 million Thai people in this situation. MONIX saw an opportunity to support more Thais and decided to launch our first product in the nano-finance category, aiming to help at least 7.2 million people in the first phase.'

'Low-wage workers who cannot access loan services of established financial institutes often rely on illegal loan sharks. MONIX is keen to solve this problem by offering its strength in AI Technology and Machine Learning capabilities which provides faster, clearer, and more comprehensive customer risk assessment. Additionally, our operating systems run and provide responses so rapidly, and on a global security standard, that we can processapplications without the need for branch offices. Thais can apply for our services from everywhere in the country, allthey need is a smartphone and internet access. The app gives more people easier access to legal loan services and is especially suited to the current situation.'

At the event were 2 famous influencers: Mr. PaitoonKhamklanorJe-Kaek-Haek-Pak, the owner of a famous Kanom Krok in Nakhon Pathom who shared his story about being the victim of loan shark debts and Ms. Fah-Kanokphan Muaksawai, founder ofMue-Prab-Nhee-Nok-Rabob Facebook Page, she talked about interesting topics, such as case studies from 'How to help victims of illegal loans' and 'How to escape from debt maze', etc.

Mr. Paitoon Khamklan 'Je-Kaek-Haek-Pak' shared with the audience, 'I know blue collar workers always needcirculating funds to survive and expand our businesses. For me, it is not easy to come this far because I have been lost in a debt maze for so long, I kept running away from loaners and could not find a way out. During the COVID-19 crisis we need to sell products through online channels. This means we struggle more to get capital in this period.Fortunately, 'FINNIX' has come to save us in time to avoid loan sharks that harass us with unfair interest rates. Most of all, the app is completely legal, easy to use, providing fair rates and fast approval. Today, I would like to encourage everyone to find a better way to survive in these tough times, even when there seems to be many problems ahead,but we need to find the strength and the right solutions tosucceed in future.'

Ms. Fah-Kanokphan Muaksawai, founder ofMue-Prab-Nhee-Nok-Rabob Facebook Page said, 'It is not good at all for you to fall victim to loan sharks. You and your family might be threatened, defamed, and the worst case that your personal information might be abused and used to steal money from your account. It damages your property and physical and mental health, and in some instances, it has led to suicide to escape the debt. That is why I feel so glad today that 'FINNIX', the digital lending app, is here to support workers like us, giving more options to solve our financial problems and be free from the vicious circle of informal loans. You can be assured that the in-app transactions are fully legal, not taking advantage of you, and making your financial management well planned.'

The 'FINNIX' application provides 3 payment options to suit customer's conditions: Minimum Payment (covering only interest), Pay as You Wish Payment, and up to 12-month installment Payment. Further, the app encourages customers to pay on time, offering the 'Star Hunting' game. Customers will receive one star if they pay within 3 days of the due date or on the exact due date. After collecting 3stars, the customers will receive a treasure chest containing a prize (terms and conditions as designated by the company).

'FINNIX' is a 100% legal digital lending application developed and operated by MONIX Co., Ltd. under the supervision of the Bank of Thailand. Customers can check on the company's license on the Bank of Thailand'swebsite. 'FINNIX' application is available for download on all app stores via link https://go.finnix.co/xZrf/4f0aba3f. Find more information at www.finnix.co and www.fb.me/finnixapp

About MONIX Co., Ltd.

MONIX Co., Ltd. is a joint venture company of the Siam Commercial Bank PCL (SCB) and Abakus Group, a Chinese fintech unicorn. Established with a vision to create opportunities for people to prosper and enjoy life, MONIXsuccessfully launches 'FINNIX', a digital lending applicationand aims to be the No.1 Financial Application in Thailand and SEA region.