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On December 22, 2020, INNORULES, a domestic digital transformation software solution provider, announced that it has entered the Southeast Asian fintech market by signing a contract to supply a credit scoring system with Indonesia's Kreditek Financial Access (KFA).

Through this contract, INNORULES plans to provide its digital decision management system (Digital Decision Manager; hereafter referred to as DDM) to Kreditek and digitalize its decision system that is used by many local banks.

It is noteworthy in that it was achieved amid fierce competition with giant global software companies that are preoccupying the market based on capital strength and brand recognition.

Kreditek is a joint venture between Indonesian IT company Exlayer and the Dutch financial advisory firm Financial Access. Currently, it provides data collection, workflow management, credit scoring, and repayment solutions to about 20 banks in Indonesia.

INNORULES' DDM will be applied to all Kreditek's customers, and the number of banks using INNORULES solution is expected to increase gradually. In this regard, a person in charge of the company said, "The flexibility and speed of the solution provided by INNORULES will be a strong competitive edge in attracting new customers."

In July 2020, INNORULES signed a partnership with InfoConnect, Malaysia, and achieved the first export to Southeast Asia in about four months. The main clients of the two companies are from the financial and insurance sector, which is the reason behind the achievements in such a short period. Another reason for the quick success is the fact that INNORULES already had a number of large domestic insurance companies and Japanese insurance companies, known for their strict quality standards, as customers.

Starting from this contract, in the first half of this year, INNORULES and InfoConnect will also begin sales of the Digital Product Manager (DPM) for local insurance companies, and a lot of demands from local insurance companies are expected.

INNORULES’ CEO Kim Kil-Kon said confidently, "This contract has proved that INNORULES is attractive not only in the domestic market but also in the global scene."

Meanwhile, INNORULES announced that it had prepared a foothold for pioneering the global market by preparing to launch products in various languages through the '2020 data voucher project’ hosted by the Korea Data Agency (KDATA).