HAVE you ever experienced the daunting task of having to make financial decisions, but felt unsure? It could be taking out a mortgage for your first dream house, or even something as simple as obtaining a suitable credit card?
If so take comfort. There is a fintech start-up that harnesses technology to help you make the right choices.
Loanstreet, a Malaysia-based fintech start-up, provides user-friendly tools, coupled with one-on-one tele-guidance to guide your through the entire decision making process free of charge. Within 10 minutes, any layperson can know:
- The best product options available for their needs
- The latest promotional offers
- Their eligibility results for the chosen loan / credit card
All evaluations and advice (including eligibility results) have a high degree of accuracy, and are provided almost instantly during the tele-conversation. This is made possible by Loanstreet’s proprietary backend technology that provides customized scorecard evaluations on behalf of various banks.
Loanstreet started in July 2012 with their namesake portal Loanstreet.com.my, which allows users to compare and apply for multiple offerings from banks online. These include mortgage loans, personal loans, and credit cards. Experienced and trained customer service officers then proceed to advise you on eligibility and best product fit.
In 2015, Loanstreet simultaneously filed for patents and launched their proprietary Loanstreet Partners platform with a rollout with 10 banks. The platform instantly provides indicative eligibility results for a customer’s application. It also helps banks manage the entire product application life cycle, ensuring a better experience for the customer.
In Oct 2015, Loanstreet further extended the platform in the form of a mobile app specially catered for Real Estate Agents. It solves such pain points for the industry such as client loan applications, and instant, to-the-point maximum loan eligibility checks. To-date, Loanstreet is in collaboration with the country’s top real estate agencies to further improve the capabilities of the app, further equipping more than 1,200 real estate agents nationwide.
Since inception, Loanstreet has helped more than 10,000 consumers apply for financial products. Year-on-year, revenues have grown multiple times.
All these would not have been possible without heavy investments into developing their own proprietary technology platform. For almost 2 years, the team spent time tweaking its process management, customer relations and analytics capabilities. These technologies now drive the growth for Loanstreet’s banking and real estate partners.
Loanstreet will be officially launching its credit cards page and will be giving away interesting rewards such as coffee machines, hand phones and cash vouchers and for a limited time.