178 views

Credit Culture launches personal lending platform

Loan applications and credit verification will be done online.

Malaysian-funded Singapore fintech startup Credit Culture, a subsidiary of Dey Private Limited, launched its online lending platform, becoming the first licensee amongst the six entities that are part of a pilot by the Ministry of Law on new business models for personal loans.

Credit Culture enables customers to auto-populate an application form using government sites like MyInfo and uses this data to assess the creditworthiness of a customer instantly. Personalised rates are offered and upon face-to-face verification at Credit Culture’s office, funds are transferred instantly.

The lending platform will offer rates capped at 1% per month and remove high late interest and extra charges for early settlement.

Credit Culture just clinched a US$40m funding from Malaysian-listed investment holding company, RCE Capital Berhad back in January.

Join Singapore Business Review community
Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.