Finology Group, a Malaysian fintech that enables embedded finance, has joined forces with IFCA Software in a bid to improve the property sales experience for both developers and home buyers.
The collaboration introduces the integration of Finology‘s digital lending solution, Loanplus Home, into IFCA’s PropertyX ERP platform to achieve this.
Loanplus Home allows real estate developers to gain instant mortgage pre-approval from major banks in Malaysia, identify qualified buyers based on loan eligibility, and enable digital loan applications. These features not only enhance efficiency but also provide a more streamlined financing experience for customers.
The real estate sector has long grappled with a high rate of booking cancellations due to loan rejections, often reaching up to 70%. This partnership aims to mitigate such challenges by now enabling property developers to pre-screen buyers’ loan eligibility, thereby reducing cancellations and boosting sales conversion rates.
Ken Yong, CEO of IFCA MSC said,
“We are thrilled to partner with Finology and integrate their innovative Loanplus Home solution into our PropertyX ERP.
By providing developers with the tools to assess buyers’ loan eligibility upfront, we can significantly reduce booking cancellations and enhance the overall efficiency of the sales process,”
Robin Ang, Group CEO of Finology shared,
“By comprehensively integrating Loanplus Home into their ERP workflow, developers will be able to seamlessly see qualifying loan options and request pre-approval from within the PropertyX platform itself.
This simplifies what was typically a drawn-out process susceptible to slowing transactions. And, we’re open for banks to collaborate to make this process more efficient.”
Featured image credit: Edited from Unsplash
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