Bangkok, Thailand; and Helsinki, Finland – August 31, 2017 – IndoorAtlas, the global Platform-as-a-Service leader in indoor positioning, today announced an agreement with Digital Ventures to deliver indoor positioning services across Thailand. This will enable Digital Ventures to deliver innovative indoor location-based banking and e-commerce services in the highly competitive and fast growing Thai market.
Digital Ventures, a subsidiary of Siam Commercial Bank (SCB), is dedicated to driving change in the banking industry through investment and innovation. Digital Ventures aims to carry out development of financial technology products and services by innovating new solutions and applying new approaches, such as Blockchain, Internet of Things (IoT), Artificial Intelligence, Machine Learning, and Biometrics technologies, to satisfy customer demand.
“We are very excited to enter into a partnership with Digital Ventures who intends to disrupt the financial sector with innovations that empower consumers and merchants alike” says Erik Piehl, CEO of IndoorAtlas. “The partnership agreement extends IndoorAtlas’ global leadership in indoor positioning and reflects the global demand we are seeing in a growing number of new verticals such and financial technology, e-commerce, transportation, public safety, and health care to mention a few. With strong local channel partners such as Digital Ventures we can effectively address this demand globally.”
“By partnering with IndoorAtlas we will leverage the innovative indoor positioning technology to fundamentally disrupt and change the playing field by giving consumers the control and the power wherever they are. This is especially relevant for indoors where we spend more than 90% of our time.” said Mr. Orapong Thien-Ngern, CEO of Digital Ventures. “We are truly excited about this opportunity to partner with the world’s leading indoor positioning technology provider like IndoorAtlas. Digital Ventures has recently launched the first IndoorAtlas powered service in Thailand called ‘Chatuchak Guide’ application. With the Geomagnetic technology exclusively provided by IndoorAtlas, merchants and shoppers can now be assisted by using the intelligent indoor-location-based navigation under the roof of Chatuchak Market, which is one of the world’s most-visited shopping destinations, while also enjoying a wide range of benefits from SCB financial services on their mobile devices.”
Founded in 2012, IndoorAtlas is a global Platform-as-a-Service leader in geomagnetic indoor positioning. Its patented hybrid technology utilizes the built-in sensors in smartphones to detect anomalies in the Earth’s magnetic field to pinpoint a location indoors. It provides to thousands of developers with a scalable cloud platform to build location-based services without the need to purchase, install and maintain large amounts of costly infrastructures. The platform supports both Android and iOS, and customers can utilize the provided geoinformation to build indoor location-based services, such as proximity advertising, search and way-finding, within their application. Visit www.indooratlas.com, https://www.youtube.com/watch?v=pYnY1_UwA4s
About Digital Ventures Co., Ltd.
Digital Ventures is a financial technology subsidiary under Siam Commercial Bank. Established in 2016, the company spearheads the bank’s digital transformation. Digital Ventures strives to play a part in driving the change in the banking industry through investments, research and developments, as well as providing support for Thai startups to grow alongside SCB. The company’s initial capital in financial technology amounts to 1,750 billion baht (approximately USD 50 million). For more information go to www.dv.co.th
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