High level brief

• When did you first hear about Ringkas? - I first heard about Ringkas at one of the New Project launched by Ciputra group 2 years ago. At that time Ringkas was not yet working with Property Agencies but only with property developers as their system was not yet ready.
• Why did you decide to collaborate with Ringkas?
  • Ringkas allowed us to convert our traditional mortgage processing with the banks to digital, so we can sell houses faster and give our finance teams, sales digital tools.
  • For example:
    • 1. now with Ringkas, our property agents do not need to wait for the bank to do credit checking (slik/bi check) and
    • 2. agents also can apply to multiple banks instantly versus waiting 6-8 weeks or longer for secondary market
    • 3. More importantly agent finance teams get live updates through the platform on the loan application status
• What was the process like in applying for home financing before Ringkas came into the picture?
  • 1. Traditionally, the majority of the applications would be submitted manually through agents to the Bank agents.
  • 2. Zenith Finance & Collections works with multiple Bank agents to get the applications approved, with many back and forths. The customer also gets multiple calls from the banks (often data is leaked to other third parties for credit cards and so on). It was a very manual and process for customers and us.
• What are the main challenges you were facing and how Ringkas is solving them?
  • Ringkas is converting a traditional sector of large financial institutions and property developers, who have unstructured and offline processes.
  • Ringkas also allows our agents to upsell other loan products such as refinancing (KPR takeover) and Home Equity loand (multiguna). In this way the agents will be able to make more income and be happy to work both with Zenith and Ringkas
  • The major challenge is in relation to converting these traditional sectors to Digital. I have discussed about creating a digital loyality point based system with the team to help convert.
• How do you believe the monetization will work for Ringkas? -
  • We have agreed with Ringkas on platform fees somewhere between 50k - 100k per prequalification. Ringkas also monetise from tiering commissions from the banks.

Burda Investor Questions

https://www.burdaprincipalinvestments.com/

About Burda: Burda Principal Investments (BPI) is a division of Hubert Burda Media which provides long term growth equity for fast growing digital technology and media companies. Hubert Burda Media is one of Europe’s largest media conglomerates with a strong investment track record in internet-centric businesses, since 1998.

Questions for Zenith (we will prioritize based on time available)

• Medium and long term plans in terms of volume?
  • We at Zenith are planning to scale our agents through Multi Level Marketing approach to over 10k agents next year
  • For us having Ringkas is very important as we will be able to control the commission flow for all these agents through Ringkas
• What kind of checks did you do prior to starting with Ringkas
  • Background check on main employees and founders
  • Office visits
  • OJK License Certification, Kominfo, ISO Certification
  • Property developer and agents onboarded
  • Product/Tech overview
• What kind of software have Ringkas provided?
  • Specialised Mortgage Software related to Loan Origination and 3rd Party data verification such as Credit Checks and complete Loan and Property info.
• Do they use other companies such as Ringkas?
  • No we don’t