By: Xavier Mah Consultancy Sdn Bhd for Intelligent Advisory Sdn Bhd
Intelligent Consultancy’s mastery of numeracy in financial literacy
The notion of “study hard, graduate, and secure a job at a reputable company” has shaped our aspirations. Yet, despite our efforts, we now grapple with overwhelming debt and unexpected financial challenges, prompting reflection on where we may have erred.
To address this predicament, many consider the daunting prospect of obtaining a bank loan. However, lacking financial knowledge, individuals and small businesses alike face the possibility of rejection. This lack of understanding can lead to a burdensome array of requirements or outright denial, making the process arduous for both parties.
The Genesis Of A Dream
Keith Khor, the CEO & Founder of Intelligent Consultancy, reflects on his path to finally achieving complete financial autonomy with a touch of bittersweet sentiment. With unwavering conviction, he emphasises the paramount importance of financial literacy. Aligned with the principles of his esteemed agency, Keith has dedicated himself to assisting clients in making informed decisions relating to personal loans, business loans, debt consolidation, and mortgage loans, empowering them to navigate the intricate landscape of finance with confidence and wisdom.
The path to achieving such remarkable entrepreneurial success was far from a seamless journey, marked by challenging setbacks, encounters with scams, and personal shortcomings. However, Keith’s determination and stubborn resilience embody the essence of his character. Despite the challenges he faced, his compelling narrative continues to unfold, inspiring others with his steadfast spirit and unyielding pursuit of his goals.
From a casual chat with a friend, a spark of inspiration ignited, laying the foundation for what would soon blossom into a renowned powerhouse of financial guidance. Recalling his personal struggles with banks rejecting his loan applications for a car and credit card due to a less-than-ideal credit score during his early entrepreneurial journey, Keith Khor empathetically understood the anguish accompanying such setbacks. This realisation fueled his commitment to assisting others in making well-informed choices regarding loan selection and navigating the intricate process of securing bank approval. Keith affirms, “I have dedicated myself to providing valuable insights and guidance, ensuring individuals can overcome similar challenges and achieve their financial aspirations.”
The Birth and Resilience of Intelligent Consultancy
Intelligent Consultancy had humble beginnings, with Keith Khor initially juggling the responsibilities on a part-time basis. However, numerous challenges, including limited resources and a lack of comprehensive knowledge, led to a temporary suspension of operations until mid-2019.
Unfortunately, as fate would have it, the newly revived company, now comprising a small team of 5 individuals, faced a formidable obstacle in the form of the global COVID-19 pandemic. The devastating impact of this worldwide crisis forced them to pause operations again as banks tightened their lending criteria, making it difficult to secure loans.
Confronted with a challenging predicament, Keith made the decision to relocate to his hometown in Alor Setar, strategically reducing operational costs. The subsequent year, 2020, brought an unexpected hurdle as the pandemic halted progress. However, true to its resilient nature, Intelligent Consultancy emerged from this setback even stronger.
Upon embracing the work-from-home model, attracting talented individuals without geographic limitations and offering rigorous training to his colleagues, the company transformed from a modest team of 10 members into an impressive force of 90 members by the end of 2023. Not only that, but the consultancy’s impact on its clients is evident in the substantial increase in approved loans, soaring from RM25 million in 2021 to an impressive RM70 million in 2022 and an astounding RM250 million by the end of 2023.
Like the legendary phoenix, Intelligent Consultancy rose from the ashes, surpassing adversities and transforming into a thriving entity fueled by its resilience, expertise, and commitment to empowering clients in their financial endeavours. Their remarkable journey is a testament to the triumph of persistence and adaptability in the face of challenges.
Adapting to Changing Individual and SME Needs In The Financial World
The impact of stricter bank requirements, especially after the MCO, has made securing loans more challenging, as banks favoured customers with stronger profiles. While it remains impossible to change bank policies, Intelligent Consultancy has dedicated its energy to finding alternative financing options and educating customers to maintain a favourable profile. They aim to help customers obtain loans at the best interest rates while ensuring manageable monthly commitments within their financial capabilities.
Despite the challenges, the company recognises the impact of new non-bank institutions catering to underserved SMEs’ financing needs. Institutions like Boost Credit, Fundaztic, Funding Society, GHL, and others have emerged as viable alternatives to traditional bank loans.
Intelligent Consultancy has also noted a shift in customer preference. Individuals now prioritise lowering monthly commitments, prompting adjustments in their advice. For SMEs, more options like P2P lending and crowdfunding cater to those not accepted by traditional banks due to factors like low turnover or limited business history. The agency ensures these alternative options are available to meet the changing needs of customers.
Additionally, they have embraced the role of technology in increasing efficiency and enhancing communication within the company. By leveraging technology, they have established easier and more convenient communication channels.
Keith Khor added, “We always equip ourselves with the latest financial knowledge and information, including the evolving requirements from all the banks. As an organisation, we endeavour to maintain a strong, result-driven culture within our team, ensuring that we consistently deliver the best outcomes for our customers.”
Empowering Customers To Achieve Financial Goals
Intelligent Consultancy’s commitment to its customers extends beyond bank financial advisory services. Their overarching goal is to empower individuals and businesses to achieve financial goals, fostering a sense of confidence and control over their financial future.
Through dedicated efforts, the team at Intelligent Consultancy works diligently to understand each customer’s unique circumstances, aspirations, and challenges. By doing so, they tailor their services and strategies to suit individual needs, ensuring personalised and effective solutions.
Driven by a noble vision to establish themselves as the foremost destination for customers seeking bank financial advisory services, the team at Intelligent Consultancy has ceaselessly worked towards realising this objective. Embracing a tenacious culture characterised by steady resolution, accountability, leadership, and team growth, the company has cultivated an environment that equips them to serve their customers with expertise and precision, ensuring the attainment of their financial goals.
Catering to Diverse Customer Needs: Individuals and Businesses
At Intelligent Consultancy, their services are tailored to meet the distinct requirements of two primary customer groups: individuals and businesses. Individuals typically seek assistance in reducing their monthly financial commitments or obtaining cash for personal use, while businesses aim to improve cash flow or expand their operations.
Intelligent Consultancy provides a complimentary CTOS checking service to ensure personalised support, analysing each customer’s profile and offering tailored suggestions and recommendations. Recognising that every customer is unique, they prioritise one-on-one interactions to understand specific circumstances and provide customised solutions.
“Securing loans is typically easy for individuals or businesses with a strong financial record,” emphasised Keith Khor. “Nevertheless, we acknowledge instances where one might face hurdles in accessing financing. There are two common obstacles, namely insufficient documentation, where one might lack important documents such as audit reports, income tax records, premise licenses, or official park spaces. SMEs with a low turnover or less than three years of operation may also encounter difficulties approaching traditional banks. In these cases, we aim to assist clients in acquiring any necessary paperwork or collaborating with banks that accept their circumstances. If the situation calls for it, we are open to exploring alternative options like peer-to-peer (P2P) lending platforms, which can provide the necessary financial support,” he concluded.
By offering bespoke solutions and navigating these challenges, Intelligent Consultancy ensures that individuals and businesses alike have access to the financial resources they need to achieve their goals.
Intelligent Consultancy’s Long-Term Vision
Regarding collaborations and partnerships, Keith mentioned that though they were not currently expecting any immediate collaborations, they were actively working towards a strategic partnership with entities like CTOS. Additionally, in 2024, Intelligent Consultancy intends to engage in CSR programs and collaborate with an NGO to assist people, spread knowledge, and raise awareness.
In their efforts to empower the next generation through financial literacy, Intelligent Consultancy plans to approach schools to conduct financial literacy talks. Maintaining its long-term vision, Intelligent Consultancy aims to become a comprehensive company that provides all financial advisory services for banks. They plan to expand in various segments to ensure that bank loans become accessible to everyone, aligning with their goal of being a one-stop solution for their customers’ financial needs.
