CHANNEL VAS REBRANDS TO OPTASIA IN GLOBAL EXPANSION PLAN

• Optasia Founder and Chairman, Bassim Haidar announces the company with a remarkable 10+ years track record plans to grow its global position with emphasis on emerging markets

• The fintech pioneer currently provides financial access to over 560mn customers globally, with over 88m active customers performing financial transactions of over $8m daily through Optasia, its data-driven AI platform

DUBAI, UAE, Feb. 24, 2022 /PRNewswire/ -- Multinational fintech company Channel VAS announced its rebranding to Optasia as it looks to further grow its global position, with emphasis in the emerging markets. Optasia core service is a fully integrated, versatile AI platform covering scoring, financial decisioning, disbursement & collection. The rebranding marks Channel VAS' business evolution after over 10 years of operation.

State-of-the-art AI platform Optasia offers its partners, both top tier Mobile Network Operators and financial institutions a better-informed decision process on credit scoring, opening up massive untapped opportunities and providing a full range of financial products and services to their ecosystem, including consumer and enterprise finance solutions, credit scoring, data science as a service and platform as a service.

Optasia is a game-changer for the fintech/mobile finance revolution taking place in the emerging markets, supporting local banks in their digital transformation to provide financing to their dynamically growing economies in a risk-free way.

Through proprietary AI, Optasia processes and analyzes unstructured behavioural data, creating unique profiles of customers which can be used by financial institutions and MNOs to tailor products and services to their client base. Without this technology, these organizations wouldn't be able to gather the necessary information to make safe decisions on creditworthiness.

Optasia has an established track record of over 10 years' experience in leading the fintech evolution in emerging markets across Africa, Asia and the Middle East, providing credit decisions for over USD 8 million in daily transactions. It services an addressable base of 560 million mobile subscribers in over 30 countries.

Commenting on the rebranding, Bassim Haidar, Optasia Founder and Chairman stated: "Optasia uses state of the art technology to enable financial access to the next billion customers across the global emerging markets. Technological and financial empowerment that data science brings in the regions where economic boost is most needed, is paramount to their future development".

"Globally, 1.7 billion adults are underbanked - without an account at a financial institution or through a mobile money provider. Although the figure has been systematically decreasing, it still accounts for an enormous gap. Optasia plans to spearhead this financial inclusion in the next few years" Mr. Haidar concluded.

Financially headquartered in Dubai, UAE, Optasia operations are located in Athens, Greece. The company developed a tech excellence center in Egypt and has offices and subsidiaries in various countries across the world, including South Africa, Nigeria, Pakistan and Bangladesh.

The fintech had been chosen as a prime investment opportunity by top investment firms like Abu Dhabi's Waha Capital in 2017, Ethos, a South African investment company in 2018 and DPI equity firm in 2019.

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