CTOS Data Systems Sdn Bhd (CTOS) has just signed a cooperative agreement with Kekal Impian Sdn Bhd (Kekal Impian) to which will allow the company to utilise CTOS systems for their brand new digital money lending platform.
This comes hot on the heels of the announcement that Kekal Impian recently obtained a digital moneylending license from KPKT. The partnership involves CTOS Application and Decisioning for Moneylenders, which provides Kekal Impian with digital automation systems for its online moneylending operations.
Licensed by KPKT to provide online moneylending services
“We have long evolved from being a traditional credit reporting agency into a company that provides a broad suite of innovative end-to-end digital credit decisioning and management solutions. Today’s partnership with Kekal Impian is another important milestone for CTOS in this regard.
“Our latest iteration, CTOS Application and Decisioning for Moneylenders, powered by Juristech, and embedded with CTOS eKYC and comprehensive bureau data, shows how CTOS has grown to truly be a digital enabler,” said Erick Hamburger, Group CEO of CTOS Digital Berhad in a press release in conjunction with the signing ceremony.
“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,” he added.
Bring services to wider audience online
Up until recently, Kekal Impian has operated exclusively in the Johor region. However, their new platform will allow them to bring their services to a wider audience while providing faster, more convenient, and personalised services online and remotely.
“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 ever before,” said Steven Phua of Kekal Impian.
The foundation of the new Kekal Impian systems was built on the robust engine and technology from JurisTech, the fintech company of which CTOS acquired a 49% stake in 2021. JurisTech provides enterprise-level solutions that bring about digital transformation for banks, financial institutions and telecommunications companies.