AEON Credit Service (M) Bhd (AEON Credit), one of Malaysia’s non-bank credit providers, has introduced the CTOS eKYC [e-Know Your Customer] solution last September and by the end of 2020, 12,000 of its merchants and business partners will be having access to CTOS’s on-the-spot mobile digital identity verification.
The solution by CTOS Data Systems Sdn Bhd (CTOS), Malaysia’s largest credit reporting agency, was implemented to speed up the overall use of eKYC solutions in the Malaysian marketplace and contribute to the further digitisation of the Malaysian economy.
“The move is part of AEON Credit’s “kaizen” or continuous improvement philosophy. Our customers are demanding quicker, hassle-free credit application approvals and we need to find new and better ways to deliver this. By adopting the CTOS eKYC solution, we expect both user experience and productivity improvements for our customers and business partners, with processing turnaround time reduced even further over time,” said Andrew Ooi, AEON Credit’s Head of Marketing and Business Development.
Dennis Martin, Group Chief Executive Officer of CTOS said “It is great to see CTOS eKYC being applied in a real-life business environment to provide a seamless customer experience.
By combining best-in-class technology along with the ability to integrate with the CTOS credit reporting database, we have created a gold standard in eKYC solutions. I would like to congratulate AEON Credit Service (M) Berhad on being the first non-bank financial institution to adopt the CTOS e-KYC solution.”