IFCA Software and Finology Join Forces to Revolutionise Property Sales with Loanplus Home Integration in PropertyX ERP
KUALA LUMPUR, 8 JANUARY 2023 – IFCA Software, the leading Enterprise Resource Planning (ERP) system developer renowned for its flagship PropertyX ERP, proudly announces a strategic collaboration with Finology Group (Finology), an Asia-Pacific fintech company that enables embedded finance. This partnership introduces the integration of Finology’s digital lending solution, Loanplus Home, directly into the PropertyX platform, offering a seamless and innovative experience for property developers and home buyers alike.
Loanplus Home empowers real estate developers to:
1. Instant Mortgage Pre-Approval: Obtain real-time mortgage financing pre-approvals from Malaysia’s leading banks, ensuring a swift and efficient process.
2. Targeted Buyer Qualification: Identify qualified buyers based on their loan eligibility, streamlining the property sales process.
3. Digital Loan Application: Enable customers to submit loan applications digitally and track the progress in real-time, enhancing efficiency while offering a seamless financing experience.
The real estate industry faces a challenge where up to 70% of bookings are cancelled due to loan application rejections, leading to units being temporarily unavailable for other potential buyers. The collaboration between IFCA Software and Finology aims to address this issue by enabling developers to pre-screen buyers based on their loan eligibility, thus reducing the risk of cancellations and improving sales conversion rates.
“We are thrilled to partner with Finology and integrate their innovative Loanplus Home solution into our PropertyX ERP,” said Mr. Ken Yong, CEO of IFCA MSC Bhd. “By providing developers with the tools to assess buyers’ loan eligibility upfront, we can significantly reduce booking cancellations and enhance the overall efficiency of the sales process.”
“We’re excited to partner with PropertyX to help address developers’ central challenges with financing access and sales durations,” said Robin Ang, Group CEO of Finology. “By comprehensively integrating Loanplus Home into their ERP workflow, developers will be able to seamlessly see qualifying loan options and request pre-approval from within the PropertyX platform itself. This simplifies what was typically a drawn-out process susceptible to slowing transactions.”
IFCA Software and Finology anticipate that this collaboration will redefine the landscape of property sales, setting new standards for efficiency and customer-centric practices.
For media inquiries, please contact VP for PropertyX, Ms. Yong Siew Woon at firstname.lastname@example.org.
About IFCA Software:
Established 1987 in Malaysia, IFCA Software specialises in comprehensive Enterprise Resource Planning (ERP) for developers, contractors, hoteliers and HR practitioners. Its flagship product, PropertyX ERP, is a cutting-edge digital collaborative platform that helps industry stakeholders to manage the sales cycles from lead nurturing to closing. With a talent pool of over 600 and overseas presence in China, Indonesia, Singapore, Vietnam and the Philippines, IFCA Software is committed to providing its customers with innovative solutions that enhance their productivity, efficiency, sustainability and resilience. By providing the industry with a great lineup of superior products and services to accelerate their digital transformation, we have also won various accolades over the years, from PIKOM IT Achievement Awards 1997, IBM Industry Solution Leadership Awards 2003, Deloitte Technology Fast 500 APAC 2004, all the way to the Sin Chew Business Excellence Awards 2016, Financial Times 1,000 High-Growth Companies Asia Pacific 2018, as well as Malaysia Technology Excellence Awards 2021 and 2022.
Finology Group (“Finology”), an Asia-Pacific fintech company, specialises in enabling embedded finance. Its API-driven lending and insurance solutions empower financial institutions and ecosystem partners, including property developers, automotive distributors, and digital platforms, to seamlessly incorporate loan and insurance products in their customer experience journey. Supercharging its offerings, Finology also offers AI-powered solutions such as Intelligent Document Processing and Multilingual Conversational Voice Bot. Finology’s direct-to-consumer platform, Loanstreet, promotes financial products from banks and insurance companies.
Notably recognised on both local and global fronts, Finology holds a unique lending technology patent in Malaysia and has achieved significant accolades including Fastest Growing Digital Lending Platform by Global Economics Awards 2023, AIFinTech100 by FinTech Global, InsureTech Connect Asia Awards 2023 (Malaysia), 5-Star Insurance Innovators by Insurance Business Asia 2022, and the esteemed title of Seedstars’ Global Winner of World Competition 2020/21.