iSelect Becomes The Majority Shareholder In iMoney. Here’s What It Means To You
What’s in store for iMoney is increased investment, a boost to its senior management team and the introduction of iSelect proprietary technology into the business.
Question is, what does this mean to you, the consumer?
Better user experience and customer services
After receiving an initial injection of RM13 million from iSelect in 2014, iMoney has recorded an annual revenue growth of 80%.
It has also established itself as a sustainable and scalable business. In fact, iMoney was recently named in the top 10 fastest growing fintech businesses in Malaysia by IDC Financial Insights.
The key strength of iSelect has been offering personal finance services in Australia for more than a decade, making it Australia’s largest life admin store.
It has the technology and know-how to help boost the iMoney brand from contact centre-conversion technologies to various marketing efforts.
Wider range of products
The early days of iMoney saw us offering comparisons on home loans, credit cards and personal loans.
Today, we offer more, allowing consumers to compare, apply and learn about all the above products as well as various types of insurance and broadband packages.
iMoney has also brought in more providers for each product vertical, giving our consumers better options when making their financial decisions.
With the aim of offering a holistic personal finance experience, iMoney has recently launched the iMoney CreditScore, which allows Malaysians to check their CreditScore online. This is done in collaboration with RAM Credit Information (RAMCI), which has been in the credit rating industry for close to three decades.
Malaysia is situated in the world’s fastest growing region and consists of a rapidly expanding credit and tech-savvy middle class.
The country is seeing GDP growth rates averaging between 4% and 6.5% per year, with accelerating internet penetration rates.
To ride this wave, iMoney aims to expand its services and position itself as the leading financial services company in the region.
We already have a market presence in Malaysia, Singapore, Philippines and Indonesia. It’s time for the company to up a notch.
So, stay tuned for more
That’s what we can promise with this acquisition: It’s the rolling-out of better services in the near future.
We have some products brewing and all we ask of you, our consumer, is to keep supporting our efforts.
After all, that’s what we are all about – helping you make the most out of your money.
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