CTOS, PropertyGuru sign MOU to advance proptech innovation
By Digital News Asia August 30, 2022
- Wll leverage both parties’ solutions to address property sector’s needs
- To promote understanding of credit health & real estate investment
CTOS Data Systems Sdn Bhd, the wholly owned subsidiary of CTOS Digital Berhad, has signed a memorandum of understanding (MoU) with PropertyGuru Group to collaborate on advancements in property-related technology to revolutionise the digital space of the commercial real estate business in Malaysia.
In a statement, the credit reporting agency said it has lately been delving into numerous new verticals, with car insurance and tenancy screening having been added to its suite of services offered.
PropertyGuru operates Malaysia’s leading property marketplaces, PropertyGuru.com.my and iProperty.com.my.
CTOS said this partnership will amplify its venture into the proptech space where the integration of both parties’ innovative solutions and data-driven insights will further address the needs of the property industry.
This includes improving consumers’ and developers’ efficiency as well as effectiveness in making more informed property investment decisions, it added.
The MOU also includes collaborations on wide ranging initiatives such as financial literacy where PropertyGuru consumers will get access to free CTOS reports with CCRIS and educational materials, it said.
According to CTOS, this partnership will also promote a clear understanding of the correlation between credit health and real estate investment to offer consumers the ability to determine affordability, receive the right returns and assess credit risks in property purchasing.
Additionally, integrations between the two companies will enhance affordability, tenancy and loan eligibility tools not only for consumers but also landlords and property agents, it added.
Erick Hamburger, group chief executive officer of CTOS Digital Berhad, said, “We will pioneer new ground to increase market and performance insights for both parties and our clients, through data, analytics and innovation.
“Furthermore, together we can continue to promote our shared goal of increasing financial literacy across the country,” Hamburger said.
Meanwhile, Shyn Yee Ho-Strangas, managing director of data and software solutions at PropertyGuru Group said, “Consumers will be able to make more confident decisions throughout their property journey by having access to real time, accurate and independent data; agents will be able to service their customers more effectively and productively."
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