MyTukar, CTOS collaborate for loan approvals efficiency

by SHAFIQUL ALIFF / pic credit:

MYTUKAR Sdn Bhd announced the integration of CTOS Data Systems Sdn Bhd’s CTOS Application and Decisioning solution into myTukar’s digital platform for increased efficiency in customers’ loan approvals.

myTukar in a statement stated, CTOS Application and Decisioning helps corporates make credit decisions efficiently and accurately via automated analytics and insights.

This is a step in the right direction for myTukar, given it is currently building a financially inclusive used car financing system that rides on artificial intelligence-driven lending metrics.

This enables businesses to speed up credit application approvals at point of sales to drive exceptional customer experience, freeing businesses to concentrate on what matters — the personal touch of human interactions.

Ultimately, this improves business turnaround time whilst maintaining a personal touch for customers who value it.

myTukar CEO Jeffrey Ong said they are pleased to roll out the integration of CTOS Application and Decisioning into myTukar interface which ultimately supports our mission of making used car buying and selling simple, convenient, efficient and transparent.

Ong said the collaboration with CTOS is very timely as it is happening at the height of its business expansion in Malaysia.

“We have seen immediate improvements to both business processes and performance using the new system in testing. The system provides access to superior data which can help us make better decisions instantly.

“This will shorten our processes which traditionally take two to three days to only 24 hours, which has become an expectation by customers in today’s fast-paced digital world,” Ong said.

myTukar has rolled out the first phase of the CTOS Application and Decisioning digital solution integration in May 2021, with plans to accelerate its implementation in the coming months.

Meanwhile, CTOS Data Systems Eric Chin said CTOS Application and Decisioning will help myTukar speed up the application process and make accurate decisions faster to acquire new customers.

He said this also will help improve overall customer experience by allowing immediate credit decisions at point of sales.

“CTOS Data Systems will continue to support our partners in rolling out cutting-edge, tailored digital solutions to help them make better credit decisions instantly to meet customers’ needs,” added Chin.