Tuesday 25 April 2017
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thesundaily
4 days ago

Aeon Credit signs deal with HelloGold, to offer asset-backed financing product

KUALA LUMPUR: Aeon Credit Service (M) Bhd has signed a collaboration agreement with online gold platform HelloGold Sdn Bhd to market and offer its customers an asset-backed personal financing product.

“With HelloGold, Aoen Credit will have the opportunity to develop and be part of Malaysia’s first digital asset-backed lending product,” Aeon Credit managing director Kenji Fujita said at the signing ceremony yesterday.

“In addition, this move will increase the company’s existing product base for a new generation of consumers.”

Asset-backed financing typically provides collateralised credit facilities to borrowers with high financial leverage and marginal cash flows.

According to its 2016 annual report, Aeon Credit has more than four million card members. Its services include credit card issuance, easy payment schemes, personal finance schemes, and insurance.

Under the agreement, Fujita said, the non-bank lender will provide financing to interest

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