NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (“FaaS”) ecosystem provider, today announced that Gulzar Azad, an accomplished technology leader and entrepreneur, is DigiAsia's first appointee as a strategic advisor to its recently established AI strategic advisory board. DigiAsia’s formation of an advisory board serves a critical purpose in navigating the trajectory of the Company as it rapidly introduces AI technology and capabilities to provide efficiency to enterprise clients in Indonesia at scale. Mr. Azad’s motivation to democratize technology through innovation will significantly benefit DigiAsia's initiatives to build its AI infrastructure and the AI as a Service business.

Mr. Azad currently serves in an advisory role of Health AI and population-scale projects at Google UK and is a Google veteran, having led several early initiatives for product partnerships in India and APAC since 2007. Additionally, Mr. Azad’s experience includes contributions to launch mobile search in India of Android and pioneered strategic projects for high-speed connectivity and software defined networks for Telecom operators.

Prashant Gokarn, CEO of DigiAsia, commented, “We are thrilled to welcome Gulzar to our newly formed AI driven advisory team. His vision and experience in the technology sector perfectly aligns with our goals to expand DigiAsia’s AI capabilities across our SME ecosystem while concurrently making AI more accessible to drive further economic growth in Indonesia. His insights will be invaluable as we continue to innovate and grow DigiAsia’s presence in AI.”

Gulzar Azad added, “I am excited to support DigiAsia in this new capacity as my history and close experience with advancing technology equity and creating distributed architectures to benefit the broader ecosystem is complementary to management’s mission to drive commerce growth across Indonesia and its trading partners in Southeast Asia. Together, we will work towards democratizing AI infrastructure, ensuring it benefits a broader range of stakeholders and fosters innovation across various sectors.”

About DigiAsia

DigiAsia is a leading Fintech as a Service (FaaS) provider operating a B2B2X model offering its complete Fintech solution in emerging markets. DigiAsia’s fintech architecture offers small and medium business enterprises (SMEs) comprehensive embedded finance APIs to streamline processes across the commerce value chain of distributors and customers. DigiAsia’s embedded fintech solutions equally address democratizing digital finance access that supports financial inclusion of underbanked merchants and consumers in emerging markets resulting in growth for enterprise business. The suite of B2B2X solutions provided by DigiAsia include, but are not limited to, cashless payments, digital wallets, digital banking, remittances and banking licenses. DigiAsia has recently established a strategic initiative to develop its embedded FaaS enterprise solution with AI capabilities in Southeast Asia, India, and the Middle East, with plans for global expansion. For more information visit: Corporate website here or Investor website here.

Forward-Looking Statements:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DigiAsia and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DigiAsia cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DigiAsia’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DigiAsia specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

DigiAsia Company Contact:

Subir Lohani

Chief Financial Officer and Chief Strategy Officer

646-480-0142

Investor Contact:

MZ North America

Email: FAAS@mzgroup.us