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:
Instant Mortgage Pre-Approval: Obtain real-time mortgage financing pre-approvals from Malaysia’s leading banks, ensuring a swift and efficient process.
Targeted Buyer Qualification: Identify qualified buyers based on their loan eligibility, streamlining the property sales process.
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 property 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 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.”
Meanwhile, Robin Ang, Group CEO of Finology shared, “We are excited to partner with IFCA Software to help address property developer’s central challenges with financing access and sales durations. 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. And, we’re open for banks to collaborate to make this process more efficient.”
IFCA Software and Finology anticipate that this collaboration will redefine the landscape of property sales, setting new standards for efficiency and customer-centric practices.