Startup Profile

iPYGG

Hong Kong, Hong Kong

iPYGG is the first open banking system in Asia. Their AI provides financial advice and solutions to Gen Z & Millennials based on unique financial circumstances and goals via Open Banking.

The problem we're solving

iPYGG is an AI-powered personal financial management and investment company, with business operations in Asia Pacific.

In the market, 86% of the Millennials don’t know anything about investment and the majority of them live from paycheck to paycheck. It makes 30% of the bankruptcy cases come from millennials in 2019, especially those who own more than 5 credit cards and the average credit card interest rate higher than 30% in the market.

Infact, the open banking and fintech development in APAC is far away from western countries, iPYGG is the first in-house open banking company across Asia.

Our solution

Utilising the proprietary Open Finance Technology, iPYGG helps clients to integrate their bank accounts and provide financial advisory on spending, investment, debt and even taxation. Several patented technologies & solutions based on open finance and AI are provided to the banks and businesses in the Asia Pacific.

Now, we help our users to aggregate 13 banks and financial institutions in our app. It is expected that 50 financial institutions will be connected on our platforms by the end of this year.

Our differentiator

Different from the competitors in the market, those participants are using API from saltedge from Euro and there is no space for them to add insurance, pension fund, investment and crypto-wallet. We built the base on our own and made the machine learning model to auto label the data. We also developed fintech patents regarding investment (HK1237583), debt relief planning (Pending) and taxation (Pending) based on AI and Open Finance.

Biggest Achievement

Since we launched our B2B solution last October, we have recorded 4.3 Million HKD revenue and more than 10 clients. We have created several solutions on Blockchain, NFT, RPA etc. So far, we have made our seed round fundraising with Standard Perpetual Asset management, who will support the investment licenses in the regions and we are accepted to be in Alibaba HKAI Lab, Fintech award 2020 by ETNET in Hong Kong, admitted by Tencent IEEAC competition and become Top 10 startup, obtained Trust fund license (TC007724).

Program themes:

Financial Health & Wellbeing

Team members:

Allen PakChing Lau

Edwin Lo

Yash Kukadia

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