Funding Societies Malaysia launches mobile app for investors
By Digital News Asia May 12, 2017
- All activities, from sign-up to actual investing, can be done via smartphone anytime and anywhere
- App incorporates fingerprint login, advanced encryption, and auto-logout
FUNDING Societies, a Malaysian P2P financing platform, has announced the launch of its investor mobile app.
The app offers the platform’s investors more ease and practicality; all activities, beginning from sign-up to actual investing, can be done via smartphone anytime and anywhere. The app is available on both iOS and Android devices, in Malaysia and in Singapore.
New users can apply and sign up to become investors via the app, aided by a registration process that provides seamless user experience. Should users have to stop registration midway, they can continue signing up from where they left off.
The app also automates certain tasks, such as autofilling address details from postal codes for easier application.
Activated Funding Societies’ investors can start investing immediately using the app. Additional features, such as advance notifications for upcoming investment opportunities and low balance reminders, ensure that investors will not miss an investment opportunity.
Funding Societies has also introduced trust accounts for funds handling and e-signatures for contract signing. Similarly, this app incorporates state-of-the-art security measures, including fingerprint login, advanced encryption, and auto-logout, to ensure the security of investor information and transmission.
“Funding Societies believes in a win-win relationship for SMEs and investors. In a diversified portfolio, P2P financing has proven to be an excellent investment alternative. Investors on our platform can start investing with just RM 100, earning monthly repayments and good risk-adjusted returns. Our investor app will give investors greater access to this investment option,” said Funding Societies Malaysia CEO Wong Kah Meng (pic).
Funding Societies Malaysia connects SMEs with investors through an online marketplace. By investing in SMEs, the platform’s investors could earn returns of up to 14% per year, higher than deposits, bonds, and other traditional instruments.
The investments typically have a tenor of up to 12 months and come with monthly repayments, enabling investors to encash sooner and re-invest.
Since its inception, Funding Societies has crowdfunded over RM120 million in SME financing across Malaysia, Singapore, and Indonesia. Funding Societies is one of the largest regional P2P financing platforms.
In April, Funding Societies Malaysia announced a strategic collaboration with the RHB Banking Group to widen financing access for underserved local SMEs; it is the first partnership between a Malaysian bank and a P2P financing platform.