Malaysian Startup Company ‘Direct Lending’ offers digital personal lending platform tailored for the bank underserved
KUALA LUMPUR, Sept 10 (Bernama) -- According to the World Bank Report on Financial Inclusion in Malaysia (dated May 2017), only 25% of the adult population and 15% in the B40 group, has formal bank borrowing. Hardworking adults who are declined by formal banking channels have limited viable financing options, not to mention the well-publicised news of numerous loan scammers or unscrupulous money lenders that are readily to take advantage of their vulnerabilities.
With the mission to address this social problem, Hui Yik Seong, an ex-banker, founded Direct Lending Sdn Bhd (Direct Lending) in 2016. Direct Lending operates an online personal lending marketplace in Malaysia that enables bank underserved borrowers to search, compare, apply and receive financing that best suit them in a fast, simple, safe and affordable manner. Financing products on Direct Lending’s platform are underwritten by reputable financial institutions, co-operatives and credit companies, tailored for both civil servants and private sector workers. Direct Lending’s first financing partner is RCE Marketing Sdn Bhd, a fully owned subsidiary of Bursa Malaysia listed RCE Capital Berhad.
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