Wadiz Simplifies Review System...'Age of Funding for Everyone: Students, Homemakers, Creators'

Wadiz Simplifies Review System…‘Age of Funding for Everyone: Students, Homemakers, Creators’

-Streamlined review process by introducing RPA, simplifying documents, and enabling quick store access; reinforced post-launch monitoring system  
-Strengthened responsible intermediation through refund policies and maker history management, resulting in 90% reduction in reported projects in 2021

Anyone can now easily and conveniently present their ideas through funding, as the review process of the intermediary platform has been substantially streamlined.

Wadiz (www.wadiz.kr), a life design crowdfunding platform represented by Shin Hyesung, announced on the 16th that it is revising its review policy to expand the user base of the funding service beyond startups and SMEs to college students, general individuals, homemakers, creators, and more, making it easier to use.

Wadiz, which has built the unique industrial domain of ‘crowdfunding’ in the market, started as a channel for early-stage companies to raise startup capital, and has been focused on creating an environment where new challenges are natural and building a crowdfunding ecosystem where anyone can try.

The company has also invested in supporter protection policies, and over the past year strengthened responsible intermediation by implementing measures such as ‘industry-first crowdfunding refund policy introduction’, ‘maker trust index development’, ‘intellectual property protection policy introduction’, and ‘monthly transparency report publication’, achieving a 90% reduction in reported projects year-over-year.

With the establishment of the crowdfunding industry,  Wadiz is revising its 2022 crowdfunding review policy to benefit more companies and individuals. This revision aims to lower the barrier to entry for funding by streamlining the pre-review process through ▲introduction of RPA (Robotic Process Automation) and AI ▲simplification of document submission ▲quick store access after successful funding, and activating diverse makers' challenges.

Moving forward, Wadiz will use the RPA system to conveniently handle simple and repetitive procedures in the pre-review process and utilize in-house developed AI to increase review accuracy. Various supporting documents related to advertisements and products can now be submitted before funding launch rather than at the review stage, reducing time spent in the review process. Required documents that previously applied to all makers will also be simplified by maker scale and reward category.

Additionally, for ‘Wadiz Store’, which makers can access after successful funding, the policy has been changed from allowing entry only after settlement completion to allowing entry seven days after shipping completion.

While streamlining the pre-review policy, the post-launch monitoring system is being further strengthened. Wadiz conducts real-time inspection of funding pages through RPA and monitors diverse supporter responses within the Wadiz platform through AI, quickly identifying and addressing projects with potential issues.

A Wadiz representative stated, “The background of this review policy revision is that through our efforts to enhance service quality, including crowdfunding refund policies and maker history management, the report rate has significantly decreased and self-regulation within the platform has increased,” and added, “Through efficient review operations, makers with ideas can easily open crowdfunding, and we will develop into a D2C platform where fans who empathize with and support value can communicate quickly,” he said.