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KUALA LUMPUR, Sept 27 -- Orpheus Capital Sdn Bhd, in collaboration with Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia), has rolled out a product called "GajiNow Financing" which has been made available to salaried individuals in Malaysia that have been impacted by COVID-19.
Orpheus co-founder Hamudi A. Khalid said the company ensures that GajiNow Financing is affordable to all individuals with a minimum salary of RM1,200.
"GajiNow Financing is a short-term shariah-compliant financing that was created to ease the burden of those who have been impacted by COVID-19 and the intention of the product is to prevent individuals from turning to unlicensed money lenders and loan sharks," he said in a statement.
Hamudi commented that the firm empathised with businesses and individuals who have been negatively impacted by the effects of this pandemic, knowing that there are many out there who had to find other means just to sustain their expenses for the month even after receiving their salaries.
"GajiNow Financing is one of the many endeavours we are undertaking to serve as a catalyst in promoting the participation and success of SMEs and individuals in our current economic climate.
"We completely understand that traditional financing processes can be tedious, time consuming and costly. With Huawei’s technological expertise and support, we are able to provide a fully digital financing platform which shortens the application processes and approval to under five minutes, making financing more convenient than ever before,” added Hamudi.
Meanwhile, Huawei Malaysia chief executive officer Michael Yuan said Huawei is delighted to provide the critical and necessary technology support that Orpheus requires, while at the same time, assisting them in utilising the latest technologies to enhance their product suites including the introduction of best practices in several key areas such as automatic data gathering and capturing, fraud mitigation, artificial intelligence and machine learning.
“We at Huawei believe that technology enables access to finance and that having access to finance changes lives. This strong partnership between Orpheus and Huawei provides an exciting opportunity for us to further support the communities in Malaysia and we look forward to leverage on each other’s expertise and experiences to achieve this,” added Yuan.
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