Diginex announces new AI functionality after winning Government recognition for AI-powered compliance innovation

Rhea-AI Summary

Diginex announced the development of new AI functionality using OpenAI's platform, expected to drive revenue growth from 2025. The AI features will enhance their diginexESG SaaS reporting product by helping companies comply with ISSB and IFRS sustainability disclosure requirements through rapid data extraction and improved risk assessment.

The company aims to capture the growing ESG reporting solutions market, projected to reach USD 1.5-4.35 billion by 2027 with a CAGR of 15.9-30%. Diginex was recently selected by Hong Kong's Financial Services and Treasury Bureau (FSTB) for the Green and Sustainable Fintech PoC program, following their December 2023 win in the 'Sustainability or Climate-related Disclosure and Reporting' category from the Hong Kong Monetary Authority.

Positive

• Expected revenue growth from new AI functionality implementation in 2025
• Selection for Hong Kong's Green and Sustainable Fintech PoC program
• Recognition from Hong Kong Monetary Authority in December 2023
• Targeting growing ESG reporting market worth USD 1.5-4.35B by 2027

Negative

• None.

HONG KONG, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Diginex Limited (“Diginex Limited” or the “Company”), a Cayman Islands-based impact technology company specializing in environmental, social, and governance (ESG) issues, today announced the development of new AI functionality which is expected to be built leveraging OpenAI’s platform. The Company anticipates that the deployment of this AI feature will contribute to revenue growth starting in 2025 by enhancing diginexESG‘s value proposition and driving increased customer adoption. The initial focus will be on helping companies comply with sustainability disclosure requirements set by the International Sustainability Standards Board (ISSB) and International Financial Reporting Standards (IFRS), which are increasingly being mandated for companies involved in global ESG reporting. These features will provide rapid data extraction, improved compliance, and enhanced risk assessment for users of the Company’s ESG SaaS reporting product, diginexESG.

This AI functionality positions diginexESG to capture the growing demand for ESG reporting solutions - a market projected to reach between USD 1.5 billion and USD 4.35 billion by 2027, with an expected CAGR of 15.9% to 30% according to industry research from Verdantix – and is alongside the Company’s recent selection by the Financial Services and the Treasury Bureau (FSTB) of Hong Kong for the Green and Sustainable Fintech PoC program. The FSTB, which oversees financial and treasury policy for the Hong Kong SAR Government, launched this program to support innovative green fintech solutions with measurable environmental and financial impact. This builds on previous recognition where, in December 2023, the Hong Kong Monetary Authority, named Diginex as winner of the “Sustainability or Climate-related Disclosure and Reporting" category.

The FSTB launched this program to accelerate the development and commercial adoption of green fintech solutions by technology firms and research institutions. “We are thrilled to receive this endorsement and support from FSTB, which underscores the importance of AI technology in addressing significant challenges within the ESG and sustainability industry,” said Mark Blick, Chief Executive Officer of Diginex Limited. “We will be accelerating our efforts to deliver innovative AI-powered functionality that will support companies with their ESG, Climate and Supply Chain data collection and reporting while improving efficiency and customer experience. We plan to collaborate closely with leading global financial institutions to introduce this new feature to their clients.”

About Diginex Limited

Diginex Limited is a Cayman Islands exempted company incorporated under the laws of the Cayman Islands in 2024, with subsidiaries located in Hong Kong, United Kingdom and United States of America. Diginex Limited conducts operations through its wholly owned subsidiary Diginex Solutions (HK) Limited, a Hong Kong corporation (“DSL”) and DSL is the sole owner of (i) Diginex Services Limited, a corporation formed in the United Kingdom and (ii) Diginex USA LLC, a limited liability company formed in the State of Delaware. DSL commenced operations in 2020, is headquartered in Hong Kong, and is a software company that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. DSL is an impact technology business that helps organizations to address the some of the most pressing ESG, climate and sustainability issues, utilizing blockchain, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action.

Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. For more information, please visit the Company’s website: https://www.diginex.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, statements concerning the Company's product offerings, business strategy, projections and future growth. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Company’s business strategy will be successful. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

For investor and media inquiries, please contact:

Diginex
Investor Relations
Email:ir@diginex.com

Jackson Lin
Lambert by LLYC
Phone: +1 (646) 717-4593
Email: jian.lin@llyc.global

FAQ

How will Diginex's new AI functionality impact its revenue in 2025?

The new AI functionality is expected to contribute to revenue growth starting in 2025 by enhancing diginexESG's value proposition and driving increased customer adoption.

What is the projected market size for ESG reporting solutions by 2027?

According to industry research from Verdantix, the ESG reporting solutions market is projected to reach between USD 1.5 billion and USD 4.35 billion by 2027, with an expected CAGR of 15.9% to 30%.

What recognition did Diginex receive from Hong Kong authorities?

Diginex was selected by the FSTB for the Green and Sustainable Fintech PoC program and won the 'Sustainability or Climate-related Disclosure and Reporting' category from the Hong Kong Monetary Authority in December 2023.

What will be the main focus of Diginex's new AI functionality?

The initial focus will be on helping companies comply with sustainability disclosure requirements set by the ISSB and IFRS through rapid data extraction, improved compliance, and enhanced risk assessment.