FinDoc and CTOS partner to boost financial literacy

FinDoc, a Malaysian FinTech startup, and CTOS, the country’s leading Credit Reporting Agency, have signed a Memorandum of Understanding (MOU) to promote financial literacy and inclusion.

This strategic partnership aims to empower Malaysians with the knowledge and tools needed to make informed financial decisions.

Leveraging data from CTOS

The collaboration will leverage CTOS’ credit data and e-KYC digital onboarding solutions within FinDoc’s platform.

This integration enables users to assess their creditworthiness, discover suitable financial products, and receive personalised credit health advice.

Ultimately, the partnership seeks to enhance financial literacy and inclusivity for Malaysians nationwide.

“FinDoc’s AI algorithm empowers users to find the most fitting financial products and receive credit health advice,” said Chris Yong, FinDoc’s CEO.

“This partnership streamlines the loan application process and ensures the right customer is matched with the right bank.”

CTOS’ Chief Business Officer, Danny Fong, highlighted the role of e-KYC in the collaboration.

“CTOS eKYC provides FinDoc customers with a secure and swift onboarding experience. We guarantee the legitimacy of each credit eligibility request while adhering to strict data privacy regulations.”

Financial literacy education program

FinDoc plans to utilise CTOS’ credit data to identify common financial challenges faced by users. “This allows us to develop a targeted Financial Literacy Education Program,” explained Chris.

“Empowering users with financial management skills will ultimately improve their credit health and quality of life.”

Cradle Fund Sdn Bhd (Cradle), a Malaysian government agency supporting entrepreneurship, applauded FinDoc’s initiative.

“Supporting innovative startups like FinDoc aligns with the government’s vision,” said Norman Matthieu Vanhaecke, Cradle’s CEO.

“We are proud to contribute to FinDoc’s success and anticipate the positive impact of this partnership.”

The combined efforts of FinDoc, CTOS, and Cradle showcase their shared commitment to advancing financial literacy, increasing access to financial services, and fostering technological innovation within Malaysia’s financial sector.

For more information about FinDoc, please visit www.findoctor.my