As published on Fintech News Malaysia.

Malaysian fintech company Jirnexu announced that it has signed strategic partnership agreements with more than five consortia in their bids for a digital banking license.

They said that with Jirnexu’s broad customer base and in-depth understanding of their financial needs through RinggitPlus.com, the digital banking contenders can build a holistic portfolio for their license bid in this selection period. In a bid to improve the nation’s financial literacy, Jirnexu had launched financial comparison website RinggitPlus.com in 2013.

RinggitPlus has developed a credit score system, called X-Score, by using its proprietary data from its digitally sourced credit card and personal loan applications. This scorecard will enable digital banks to source customers confidently to suit their risk appetite accordingly.

To date, Jirnexu has reportedly facilitated 1.28 million credit card and payment customers through its digital acquisition process.

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