Free credit management and credit health monitoring solutions for companies, SMEs & consumers
KUALA LUMPUR, 16 APRIL 2020 – As the government and healthcare front liners battle the Covid-19 pandemic, the Movement Control Order since March 18 has also presented unprecedented economic and financial challenges to companies, small and medium enterprises (SMEs) and consumers.
In today’s ‘new normal’, Malaysian companies and SMEs need to seamlessly migrate their business processes, decision-making and credit management to a digital platform to enable them to operate remotely, collaboratively and cost effectively. Meanwhile, consumers must monitor their credit health and protect their personal credit identities.
Experian, the world’s leading global information services company, accelerated its business presence in Malaysia in 2019 by acquiring a controlling stake in RAMCI (RAM Credit Information Sdn Bhd) which has since been rebranded to Experian last December. In support of Malaysian consumers and businesses through the Covid-19 pandemic, Experian is offering its credit health monitoring and credit management solutions on a complimentary basis to help mitigate present challenges.
Empowering Companies and SMEs to Go Digital
Malaysian companies and SMEs can get a 2-month free subscription to CrediTrack+ which offers solutions for credit risk management and debt collection and also digital customer relationship management, secure file sharing & storage, business analysis.
This powerful, singular and seamless digital platform integrates customer information and supports decision-makers to effectively evaluate, protect and manage their credit management processes.
Over the 2-month period, they can evaluate potential prospects by using the 60 complimentary credit reports, protect their business through free monitoring of up to 500 existing customers, suppliers and partners each month and access the credit recovery and management platform to monitor and manage payments. Companies can rest assured that critical documents and reports are securely stored on its CrediTrack+ platform.
Dawn Lai, Chief Executive Officer, Experian Information Services (Malaysia), said, “We encourage companies and SMEs to look beyond the current challenges and take a long-term view to leverage on CrediTrack+ to enhance their digital capabilities and ready themselves for growth opportunities in the digital economy.
“It is now more imperative than ever that Malaysia companies and SMEs have the opportunity to transform their business to digital platforms to ride through this crisis and to ready themselves for when the economy is ready to restart in a new digital era. Digital transformation for good is how we view Experian’s role and we feel strongly that we are able help companies and SMEs bridge this trying period immediately in accelerating their digital transformation efforts. In this climate, we have the opportunity to partner with companies and SMEs to uplift their digital capabilities and we hope many will come forward to do so,” urged Lai.
Educating Consumers on Financial Health
For consumers, Lai said that Experian in Malaysia is offering a 3-month free credit health monitoring service through JagaMyID.
“Consumers must take charge to detect and prevent identity fraud while maintaining and managing their credit health during this Covid-19 pandemic. It is important that they are aware of any changes to their credit profile and also constantly gauge their credit scores through the report. Those who are experiencing financial hardship may also be wondering how late or reduced payments might impact their Central Credit Reference Information System (CCRIS) report by Bank Negara. We encourage concerned individuals to be proactive in regularly checking their credit reports, so any loan deferment or changes are reflected accurately and contact their lenders and creditors to discuss options,” she said.
Among other features, Experian’s complimentary JagaMyID allows consumers to access their refreshed credit scores (iScore), update their personal credit profiles, review their CCRIS information and obtain other information pertaining to legal suits, bankruptcy actions and payment default by non-bank creditors.
“These are all essential to attain a quick and easy macro view of your total credit and loan portfolio. Managing your credit health well also empower you to negotiate for better interest rates or credit terms as you navigate the uncertain times ahead,” explained Lai.
Dev Dhiman, Managing Director, Southeast Asia & Emerging Markets Experian said, “Aligned to Experian’s global directive, we are ready to help companies, SMEs, consumers and governments in this time of economic distress. In the immediate future as economies restart, companies need to access credit quickly. Consumers, companies, lenders and governments would need to carefully calibrate risk in a changed environment.
“Under these circumstances, Experian’s expertise in data, analytics and real-time decisioning will be highly beneficial in driving expediency in economic recovery. We are ready to draw on our experience and insights in operating business and consumer information bureaus in over 20 markets globally to share global best-in-class data and decisioning solutions to effectively tackle the unchartered waters ahead,” he added.
Dhiman emphasised that continued education on credit and financial management is crucial. Experian seeks to engage with companies, SMEs and consumers and is in dialogue with the Malaysian government and authorities to explore collaborative opportunities to extend advice and highlight solutions to navigate the current challenges.
Commenting on the efforts to help Malaysia, Dhiman shared that with almost 1,000 employees in Malaysia which is Experian’s largest presence in Southeast Asia, the company has a corporate responsibility to safeguard their wellbeing and help the local communities.
To claim the free subscriptions now:
(Companies & SMEs) Free 2-month CrediTrack+ subscription - https://creditinfo.experian.com.my/sme-go-digital
(Consumers) Free 3-month JagaMyID subscription - https://www.mycreditinfo.com.my/index.php/home/signup/covid19
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