is aiming to add more banks to their growing list of partners
KUALA LUMPUR, MALAYSIA - Media OutReach - 27 August 2018 - BBazaar Malaysia, a fintech
company, has been making waves recently in Malaysia with its mission of helping
people access the right financial products at every step. The company also
envisions itself to become a dominant marketplace for instantly issuing
financial products because of which it's actively looking to partner up with
top banks in the country - the latest one being Alliance Bank Malaysia Berhad.
With Malaysia needing to embrace
digitisation to maintain its economic growth, it was only a matter of time
before every industry took the digital route. Banking has always been at the
forefront of adopting new technologies to ensure increased convenience and an
But with consumers' needs changing
continually, it can be challenging for financial institutions to go digital on
their own while managing or even exceeding expectations. This is where fintech
firms can bridge the gap and propel banks through the digital world.
Vipin Kalra, BankBazaar International's
CEO, said, "Our aim is to provide instant access to financial services and the
process is easier for banks as we can be seen as an additional channel for them
to reach out to customers.
In Malaysia, we have since received nearly
500,000 visitors to our website and the numbers are growing. Our key
differentiator is that we enable an end-to-end paperless journey where a user
can look for a particular financial product, get a personalised offer, apply
and get approval, all in one go -- a smooth end-to end journey, starting from
researching, comparing and selecting, to applying and getting approval. In
short, a one stop shop where every Malaysian can apply directly without going
to the bank's website," continued Kalra.
Since being launched in early 2018, BBazaar
has been doing extremely well in the Malaysian fintech space. It works as an
online marketplace for financial products where you can search, compare, and
apply for credit cards and personal loans. The company entered its first
contract with Standard Chartered Bank in April 2018 and then went into agreement
with Citibank Malaysia soon after.
More recently, BBazaar has partnered with
Alliance Bank, a leading conventional and Islamic financial institution based
in Malaysia. With plans to tie up with other major
Malaysian banks soon, Vipin said, "In three months, we want to have at
least three partners on board, and over a dozen partners within a year."
He also added that the company is in
compliance with all PDP requirements in Malaysia and that its systems and
servers are ISO-certified and completely secure. On the firm's official
website--BBazaar.my--which went live on 5 June 2018, you can choose from over 18
different credit cards and 2 personal loans.
for more details.