Tun Yong Yap

Compared to generalized products offered by large financial institutions, personalized FinTech products will likely generate greater individual returns, driving customer satisfaction and increasing retention rates for fintech companies.

With Open Finance, banks and lending platforms can credit score their lenders in a faster and more accurate manner. By accessing their cash flow statements, these lenders will have a clearer picture of an SME’s true ability to repay the loan.