TNG Digital, the company behind Malaysia's largest e-wallet, has been on a journey to diversify its business and turn a profit. While they had already won the scale game with 27 million verified users, the company was losing money. CEO Alan Ni realized that more users and transactions didn't necessarily translate to profit, especially in the thin margins of payments. So, they started changing the mix, diversifying into cross-border payments, B2B technology, and merchant services. This shift helped TNG Digital break even and become profitable. But the company is now facing a new challenge: how to use its massive reach to offer more services and become a 'super app'. Alan Ni, the CEO, wants to be the 'everyday digital companion' for users, offering convenience and helpfulness, rather than being seen as a 'super app'. To achieve this, the company is migrating from the 'Yahoo age' to the 'Google age', with the search bar becoming the most important feature. However, the transition has been challenging, with some users struggling to find functions they had grown used to. Looking ahead, Alan Ni sees the app moving towards voice and AI, but he is cautious about giving AI permission to spend money on behalf of users. In terms of work-life balance, Alan Ni is a strong advocate for 'productive hustle' over 'performative hustle', and he believes that TNG Digital should provide infrastructure to help merchants build loyalty programs and keep customers coming back. Overall, TNG Digital is on a path to becoming a more diverse and helpful digital companion for its users, and Alan Ni is leading the way with his innovative ideas and insights.
