Funding Societies and Curlec Launch Partnership to Automate SME Repayments

Funding Societies and Curlec Launch Partnership to Automate SME Repayments

Funding Societies, the first and largest peer-to-peer (P2P) financing platform in Malaysia, has announced a partnership with Curlec, a homegrown FinTech company specialising in Direct Debit payments. Funding Societies will be the first partner to adopt Curlec’s online Direct Debit system. With an integrated system, the repayment process for Funding Societies’ SME clients will be automated, increasing customer experience and efficiency, while lowering processing time.

With the partnership, Funding Societies’ SME clients will have a choice to get rid of their cheques and paperwork to process their repayments. Most repayment methods require clunky software and sizeable teams to manage the operational process. Curlec’s Direct Debit system saves cost and decreases operational complexity, while benefiting local SMEs with much less hassle when performing monthly repayments.

Mr Wong Kah Meng, CEO of Funding Societies Malaysia, said “We are proud to be the first P2P financing platform to use an online Direct Debit system for our SME users. We hope to enhance customer experience. If our users no longer need to process paperwork for every repayment, they can focus more fully on developing their businesses.”

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This article was written by Funding Societies, the first peer-to-peer (P2P) financing platform in Malaysia. We provide working capital financing for small and medium-sized enterprises (SMEs); we also offer investment opportunities with returns up to 14% per year. To learn more about us, click on our website here.

You can also see our up-to-date progress and statistics in Southeast Asia here.

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