Online financial marketplace BankBazaar launches in Malaysia

By Digital News Asia March 6, 2018

BankBazaar has built a technology platform to enable an end-to-end paperless journey
Works with the support of regulatory authorities and integration with bank partners

Online financial marketplace BankBazaar launches in Malaysia

ONLINE financial services marketplace BankBazaar has launched its operations in Malaysia, further strengthening its presence in Southeast Asia. BankBazaar already operates in Singapore, the Philippines, the UAE and Mexico.

BBazaar Malaysia, will provide Malaysian users access to various financial products such as credit cards, personal loans, car loans and home loans from multiple banks, all under one roof.

BankBazaar has built a technology platform to enable an end-to-end paperless journey and works with the support of regulatory authorities and integration with bank partners.

BankBazaar International, CEO Vipin Kalra (pic) says, “A country that is committed in taking its banking sector to the digital age, coupled with a positive business environment, as well as a progressive regulator, Malaysia is fertile ground for expansion.

“This just complements BankBazaar’s vision to enable, simplify and improve the online delivery of financial services with the end goal that consumers can reap all the benefits.”

Advancements in technology mean that today, a platform could arise where a user could look for a particular financial product, get a personalised offer, apply and get an approval, all in one go - a smooth end to end journey, starting from researching, comparing, selecting, applying and getting approval.

This is where BBazaar Malaysia comes in:

Offers services through a user-friendly website on which consumers can easily search for offers and customise their financial needs.
Provides an online platform that allows consumers to search and apply for financial products such as credit cards and loans. Through the platform, banks can gain access to customers who are shopping around and enable a seamless end-to-end customer journey from search to approval.
Allows users to directly apply on the website without having to go through to a third-party channel. This would mean that there would be no more downloading and filling pages of personal and banking details.
Using state-of-the-art technology to offer real time quotes to customers, BBazaar Malaysia is able to offer banks the ability to cut down their processing time to a shorter period.

By doing all the heavy lifting and providing completed applications, BBazaar Malaysia is more than just a personal finance service centre, they’re a partner to the banks, freeing the banks’ time and resources for other efforts.

The application process complements the banks’ application process, guaranteeing a smooth, hassle-free journey. A customer service team is also on standby, assisting customers in their application journey.