Jirnexu made its start in 2012 in Kuala Lumpur when the company’s co-founders met and realised that they share a mutual passion for giving individuals the financial advice and tools they needed to spend money wisely. In the Malaysian market, more and more people were applying for credit cards and loans than ever before, which was a boon for the FSI industry. What was missing for the banks and insurance companies was a way to move this application process online to expand the reach of their campaigns, reduce high acquisition costs, and differentiate themselves by offering customers a brand new level of convenience. Security was a concern and very few banks had a digital strategy at that point.
The Jirnexu founders identified this gap in the online market and set about creating a solution that would allow FSIs to leverage the power of a digital acquisition channel, while simultaneously giving consumers an accessible system for keeping more money for themselves from each online financial service transaction they make.
On January 21, 2013, RinggitPlus was launched for the Malaysian market. Jirnexu’s first financial comparison website gave end users a handy tool to research the best banking or insurance product for their needs, without the hassle of visiting five different websites to do it.
Once the RinggitPlus proof-of-concept was complete, KreditGoGo launched the following year to service the Indonesian market. Jirnexu started with credit cards, then moved on to loans, insurance products, Internet services, and more.
Working hand-in-hand with some of the world’s top FSIs created the next opportunity for Jirnexu. FSIs have an inherently complex application process for their products and services. Writing the code to simplify and digitise that process was essential to making RinggitPlus a scalable business model. Packaging up that proprietary software as XpressApply for FSIs turned Jirnexu from being an e-commerce start-up, to a full stack FinServe and FinTech company overnight. Its first banking client was acquired in November 2015, enabled to innovate and handle 3x more secure application submissions per agent, per day.
It’s now 2016 and Jirnexu continues to look ahead. Our team is 90+ strong and we are proud to be a positive disruption in the FinTech market as part of Team Jirnexu. It’s going to be an exciting year, too, with new B2B solutions to launch, clients to delight, and millions of consumers to help get more for their money.
Jirnexu - Asia Full Stack FinTech Solutions Provider
Conceived and launched on the foundation that knowledge is power, RinggitPlus empowers Malaysian consumers to make better decisions and to save money for those things that matter most to them.
As gaps in the market were identified, RinggitPlus grew. Fixed loans and other banking products were added to the comparison mix.
Proof of concept complete, KreditGoGo launches from its HQ in Jakarta.
According to Google, 7 in 10 Malaysians compare financial services on RinggitPlus.com.