Annual Report 2020

airasia digital Platform Enhancement & Expansion airasia super app seeks continuously to enhance its platform to support a growing number of product lines that can be scaled regionally. During the year, “hero products” such as SNAP, Unlimited Flight Pass and FlyBeyond (non-AirAsia flights) were rolled out to most major Asean markets. The aim is to do the same for the entire portfolio. Towards this end, the team will continue to build a scalable technology stack focusing initially on our strongest markets of Malaysia, Thailand, Indonesia and the Philippines. Emphasis will also be placed on continuous enhancement of the user experience. In 2020, the team launched an in-app social function, airasia chat, that enables users to chat (even with fellow guests in-flight), form online communities and share travel tips. airasia super app will continue to enhance its machine learning functions while making the entire journey on the platform easy and personalised so as to be able to offer our guests the right deal at the right time through the right channel. Along with a continuously strengthened ecosystem, the team expects to further grow its revenue and achieve the target for non- airline businesses to account for 50% of the Group’s total revenue by 2025. BIGPAY BigPay is a homegrown Asean fintech company that offers transparent, secure and convenient banking services via a mobile app linked to a physical payment card. Ease and speed of transactions are among its key differentiators, starting with account opening. Using cutting-edge e-KYC (that enables digital verification of documents and facial biometrics), customers can create accounts in as fast as five minutes. With their accounts, users can spend online and offline domestically and internationally at real-time exchange rates, send money via peer-to-peer (P2P) transfers, split bills with friends and track their expenses with an inbuilt analytic engine. BigPay leverages advanced machine learning to monitor transactions and next-generation security features to ensure user accounts are always secure. Having already experienced rapid growth in its first two years, 2020 marked a quantum jump in acceptance and use of the app. Reflecting the surge in online transactions during the pandemic, BigPay saw the volume of remittance transactions grow approximately five-fold during the year, while online spending via its card also increased significantly. Its performance was supported by a number of achievements in the year. Building on the borderless nature of money, BigPay now allows customers to transfer funds to 10 countries – quickly, easily, and at the lowest rates. Countries included in its still growing list were India, Australia, Nepal, Bangladesh and China. Towards year end, BigPay also added bill payment as a new feature – enabling its card to be used with over 20 service providers including telcos and utility companies. In addition, it expanded into Singapore, where customers can currently use the app for payment and remittance. BigPay was also one of a handful of Malaysian companies granted the country’s first digital lending license from the Ministry of Housing and Local Government (KPKT). This means users will be able to apply for personal loans digitally on the BigPay app, and obtain approvals in as quickly as a minute… at competitive rates. 84 AIRASIA GROUP BERHAD