MARKETS & INVESTING | Staff Reporter, Hong Kong

Gini makes personal finance management easy and rewarding

Imagine merging everything in your wallet into an app.

A new app called Gini is granting that wish of being rid of stress from managing one’s finances. "People’s wallets are swollen with credit cards and loyalty cards, and their phones are full of different apps to manage these. This is making many people feel unhappy and stressed," says Victor Lang, founder and COO of the app Gini.

He shares that Gini's goal is to combine everything in your wallet into an app, from credit cards to bank accounts, from loyalty cards to discount vouchers, and to streamline the entire process of receiving rewards.

"What makes our software unique is that we will be able to provide personalised and targetted discounts or rewards to users based on existing transactions and spending patterns," notes Lang. "After the user accepts the discount in the app, they will be able to use one of their linked credit cards at a merchant, and the rewards will automatically be deposited into one of their accounts. No more QR codes or vouchers."

Lang and the rest of the team behind Gini were motivated to develop an app that helps people save money and manage their financial lives. "The name of our company Gini is named after the famous economic Corrado Gini, who is famous for developing the Gini-coefficient, an index that measures income equality. A Genie is also something that gives people what they want effortlessly," he says.

The name reflects the team’s desire to help users get more from their money with little effort, their contribution to levelling the unequal playing field the Gini co-efficient has identified.

Gini chose data aggregation specialists eWise to safely and securely aggregate the app’s sensitive financial data and implement artificial intelligence-based categorisation technology to analyse users’ individual spending patterns.

Senior members of the team are a mixture of bankers, marketers, developers, and entrepreneurs. Lang is a former Top 25 under 25 Entrepreneurs in Asia (BusinessWeek Asia, 2006), and is principal of CV Ventures. He is a serial entrepreneur and investor, recently exiting Restore Flow Allografts, a biotech firm sold to LeMaitre Vascular.

Ray Wyand, founder and chief executive officer, is a former VP at Citibank, part of Global Credit Trading Business based in Hong Kong. He was educated at King’s College London. Calvin Lang, founder and chief product officer, is a former chief science officer at the largest private diagnostic lab in Hong Kong. Calvin is a specialist in product/software development and biotechnology.

Fung Lim, director of business development, came from MWI Digital Marketing Agency and Groupon Hong Kong where Fung was team leader and a top producer. Ryder Lee, chief technology officer, is a former CTO of Ikky and manager at Samvo Group, bringing to the team almost two decades of development and management experience.

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