KUALA LUMPUR: A Malaysian- founded company, Funding Societies, has become the first and only peer-to- peer (P2P) financing company to achieve membership at the International Association of Credit Portfolio Managers (IACPM). Furthermore, risk management expert, Terry Tse, joins the company as advisor. Until earlier this year, Mr. Tse was Chief Risk Officer of Dianrong, one of China’s leading P2P financing platforms.
CEO of Funding Societies Malaysia Wong Kah Meng, says that they are deeply committed to the highest standards of investor and SME protection. Being part of IACPM shows that creating and maintaining a risk assessment process of international caliber is one of our top priorities. Leading banks and financial institutions such as Barclays, HSBC, Citigroup, and Goldman Sachs are also members of IACPM. We hope to integrate knowledge from renowned financial institutions with advanced digital technology.
“We are also honoured to have a world-class risk management expert, Terry Tse, on board as our advisor. This will further strengthen the safety of the investors and SMEs on our platform,” he adds.
Funding Societies Malaysia is the first and largest P2P financing platform in Malaysia. It is also currently the biggest P2P financing platform in Southeast Asia, with operations in Malaysia, Singapore, and Indonesia. Recently, Funding Societies became the only Southeast Asian P2P financing company selected to the Fintech 250, a global list of emerging private companies working on groundbreaking financial technology (FinTech).
Funding Societies Malaysia connects SMEs with investors through an online marketplace. By investing into SMEs, investors could earn returns of up to 14% per year, higher than fixed deposits, bonds, and other traditional instruments. Meanwhile, SMEs can obtain up to RM 500,000 in working capital financing with fast approval and disbursement within 1 week, end-to-end, through a simple online process. Collectively, Funding Societies has disbursed more than RM 170 million across more than 750 deals across Southeast Asia.