Fintech startup out to demistify credit, launches Mobylize

• Application includes a free credit score by Credit Bureau Malaysia
• Provides customised solutions to help users improve their credit rating

MOBY Fintech Sdn Bhd, a Malaysian-based fintech startup launched a financial decisioning application, Mobylize to demystify credit.

With Mobylize, Malaysians are able to get matched with financial products and services that suit their credit score – increasing chances of financing by financial institution.

The application includes Credit Bureau Malaysia’s credit score — given free by Mobylize, credit analysis and decisioning tools to help consumers maintain a positive credit health and get matched with products and services that suit their financial standings.

According to the founder of Mobylize Rian Philip, “a credit report plays a crucial role in financial literacy but is often overlooked by Malaysians. It is a useful measurement to understand one’s financial health but is something very few people understand.”

The Mobylize app he added, demystifies credit by providing a simple and easy to understand analysis of a user’s credit score.

From the app, users would be able to monitor and understand how factors related to credit behaviour such as credit mix, credit utilisation, repayment history, etc affect their credit score.

It also provides useful tips and customised solutions to help users improve their credit rating and reduce risks of non-performing debts.

“We hope to help all our users be credit positive so that they can be credit ready whenever they require a loan.

“Our ultimate aim is to shift decision-making power from financial institutions to consumers. We do this by shortlisting financial products and services that match a user’s credit profile. That way, we take the guesswork out of loan application and provide the user with a good understanding of his or her options so that they could choose the financial product with the best benefits and rates,” said Philip.

The app, now available in Google Play Store, will also present users with lifestyle-related questions from time to time.

Philip explained that the questions are necessary to help the app’s algorithm understand the user’s lifestyle factors that are beyond a credit report such as income, saving habit and spending pattern. With these, the app will be able to provide customised tips and personalised recommendations that are more accurate in order to help improve credit ratings.