GHL gets Approval to Pioneer Digital Lending

3 March 2022

GHL gets Approval to Pioneer Digital Lending

Key Highlights:
  • GHL Systems Berhad is one of the eight approved pioneers 'Credit Community' provider under the Ministry of Housing and Local Government and is amongst the first to roll out digital lending services for its merchants in 2022
  • Digital lending will be an automated digital process encompassing onboarding, disbursement and repayment process to facilitate the whole micro financing journey

KUALA LUMPUR, Malaysia – GHL Systems Berhad has rolled out out digital lending services for its merchants, following approval from The Ministry of Housing and Local Government (Kementerian Perumahan dan Kerajaan Tempatan - KPKT), making financial services more inclusive and accessible for the untapped lending market especially to SMEs and micro retailers.

The digital lending service by GHL is set to provide a platform that allows automated onboarding, disbursement and repayment process to facilitate the micro-financing journey. This means a simpler and seamless process for borrowers’ with minimal documentation required. This is in line with the regulator KPKT’s ongoing effort to modernise the industry and to create a more conducive, secure, controlled and efficient business environment. 

Sean Hesh, Group CEO of GHL Systems Berhad said, "Access to reliable credit is especially beneficial to the SMEs, supporting their business cash flow and helping businesses adapt to the transformed economic landscape post-pandemic. The digital lending initiative brings with it a quick-to-market process and is a step in the right direction for Malaysia, increasing financial inclusion and innovation.” 

Further easing the financing process, the credit assessment of merchant applicants will be performed based on the readily available merchant’s historical transaction data. Collection or repayment of the financing on the other hand, will be done through merchant settlement, simplifying repayment and collection process. These are the key differentiation that sets digital lenders apart from normal lenders. Possessing a unique insight to its merchant’s payment acceptance behavior, enables GHL to devise an optimum financing plan for their merchants. 

Kevin Lee,  CEO Malaysia of GHL Systems Malaysia said, "We advocate efforts to bridge the payment and credit gap among the financially underserved population, while always keeping in mind to diversify our offerings to include more meaningful value add services for our merchants.”

GHL Systems is part of the digital ‘Credit community’ providers under KPKT which is spearheaded by the government which aims to make micro financing more accessible throughout community, thus reducing demand for illegal and illicit lending.