CTOS Data Systems Sdn Bhd has entered into a partnership with licenced moneylender Kekal Impian Sdn Bhd, where Kekal Impian will be allowed to utilise CTOS’ system for its new digital moneylending platform. This comes following Kekal Impian’s recent success in obtaining a digital moneylending licence from the Ministry of Local Government Development (KPKT), as it pursues its ambition to enhance financial inclusion in Malaysia.

With this collaboration, Kekal Impian’s new platform – which is built on an engine platform and technology from fintech company JurisTech (which CTOS has a 49% stake in) – will be able to tap into the proprietary CTOS Application & Decisioning solution. It will assist the moneylender in acquiring customers more efficiently and accurately via automated analytics and insights, based on their stated requirements. In turn, Kekal Impian will be able to better manage their risks and provide an improved user experience for its customers.  

Group chief executive officer of CTOS Digital, Eric Hamburger said that this collaboration is in line with the company’s ambition to continue helping Malaysians in improving their financial management.

“There are still many people who do not have easy access to credit through the traditional banking system. Digital moneylenders like Kekal Impian provide a vital alternative to these underserved and unserved segments, which can only benefit both individuals and the economy as a whole. Being in a position to do our part in enabling the government and KPKT’s vision coincides with our mission to improve credit health and financial inclusion across Malaysia,” said Hamburger, adding that it will also help CTOS to continue transforming itself from a traditional credit reporting agency to a provider of end-to-end digital credit decisioning and management solutions.

Meanwhile, Steven Phua from Kekal Impian said that this partnership marks a new milestone for the moneylender. “We started as a traditional venture in the financial industry, driven by a simple yet powerful mission: to provide a helping hand to those facing financial difficulties. With the support of CTOS, we will be moving forward as a digital moneylender with the capability to extend our services nationwide, reaching a broader audience than before,” he said.

For context, Kekal Impian has been operating exclusively in Johor until the recent introduction of its new digital platform. With the platform, the moneylender will be able to expand its services online to people beyond Johor.  

• TAGS:
• CTOS Application & Decisioning
• CTOS Data Systems Sdn Bhd
• Eric Hamburger
• JurisTech
• Kekal Impian Sdn Bhd
• Ministry of Local Government Development (KPKT)
• Moneylenders
• Steven Phua