Top Super App Stories This Week:

1. Mukesh Ambani's JioFinance Super-App To Take on Google, Amazon

2. Grab Partners with OpenAI to Boost Super App Experience with AI

3. Huawei's Miniapp Platform to Support Ghana’s Digital Public Infrastructure

4. OpenSocial Protocol Raises $5M to Fuel the Growth of SocialFi Super Apps, with $15M Fund Backed by EVG

5. 54% of consumers in Singapore say they use super apps at least weekly: Qualtrics

1. Mukesh Ambani's JioFinance Super App To Take on Google and Amazon

Mukesh Ambani's Jio Financial Services (JFS), a subsidiary of Reliance Industries from India, is set to become a comprehensive Super App, offering a wide range of financial products and services to compete with major players like Google and Amazon. JFS aims to consolidate payment infrastructure and drive digital payment adoption in India. The company is expanding into insurance and various loan products, including auto, home, business, and merchant loans​. Additionally, JFS has partnered with BlackRock to introduce tech-enabled investment solutions in India.

Source: Bloomberg

2. Grab Partners with OpenAI to Boost Super App Experience with AI

Grab is collaborating with OpenAI to enhance its Super App with advanced AI solutions. This partnership, OpenAI's first in Southeast Asia, will integrate ChatGPT Enterprise for Grab employees, focusing on accessibility for visually impaired or elderly users. AI will also improve Grab's customer support chatbots and map-making processes, delivering better services to consumers and driver-partners. This initiative aims to leverage generative AI for large-scale problem-solving. Grab reported its first quarterly profit in Q4 2023, indicating financial recovery and growth.

Source: Deal Street Asia

3. Huawei's Miniapp Platform to Support Ghana’s Digital Public Infrastructure

Huawei, a global leader in mobile money and digital finance solutions from China, is supporting Ghana's digital public infrastructure through advanced digital finance platforms. At the 2024 3i Africa Summit, Huawei emphasized its commitment to enhancing financial inclusion, particularly in underserved communities. Their Mobile Money 2.0 and Mini App development platforms aim to improve service delivery and digital connectivity. Huawei's Super App strategy includes leveraging AI for next-gen credit scoring and partnering with local developers to expand digital services. This initiative is part of a broader effort to strengthen Ghana's fintech ecosystem.

Source: Citi Newsroom

4. OpenSocial Protocol Raises $5M to Fuel the Growth of SocialFi Super Apps, with $15M Fund Backed by EVG

OpenSocial, a Hong Kong-based SocialFi infrastructure protocol, raised $5 million to develop SocialFi Super Apps, with a $15 million fund backed by Everest Ventures Group (EVG). OpenSocial aims to empower developers to build decentralized social dApps through a multichain approach. Their first dApp, SoMon, has already launched, and other SocialFi platforms are set to follow. This initiative leverages Asia's large social media user base to drive mass adoption of web3 and create innovative, community-driven social experiences​

Source: Coin Telegraph

5. 54% of Consumers in Singapore Say They use Super Apps at Least Weekly: Qualtrics

Qualtrics, a U.S.-based experience management company, conducted a survey revealing that 54% of consumers in Singapore use Super Apps at least weekly. This highlights the significant penetration and usage of Super Apps in the region, reflecting a trend where consumers increasingly prefer integrated platforms that offer various services in one place. Super Apps, which combine multiple functions like shopping, social media, and banking, are becoming essential in Singapore's digital ecosystem, showcasing their growing influence and the consumer shift towards these multifunctional platforms​

Source: Economic Times

That's It For This Week!

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