From RM60K to eKYC Leader: The Innov8tif Journey

How did Innov8tif transform from a bootstrapped startup to serving 70% of Malaysia’s telecommunications and banking sectors? In this episode of Open For Business, we speak with George Lee, Founder and CEO of Innov8tif Solutions, about the company’s journey, their groundbreaking innovations like IC microprint verification, and the announced RM40 million strategic partnership with Datasonic Group.

George has been nominated for the EY Entrepreneur of the Year 2024 Malaysia awards in the Technology Entrepreneur Category.

George shares insights into the challenges of scaling a tech business, the evolving eKYC landscape, and Innov8tif’s plans to expand regionally while maintaining its leadership in secure digital onboarding.

Among other things, we get into:

- Entrepreneurial Journey: How George Lee and his co-founder started Innov8tif with RM60K, and how they moved from software development and consultancy and into the eKYC business.

- Innovation in eKYC: Innov8tif’s patented solutions, such as IC microprint verification, and their impact on secure digital onboarding.

- Market Leadership: Serving 70% of Malaysia’s telco and banking sectors and the strategies behind maintaining this dominant position.

- Strategic Acquisition: Insights into Datasonic Group’s RM40 million acquisition and how it will drive Innov8tif’s growth and innovation, as well as advice on strategic partnerships.