MyAngkasa Az Zahra (Orion IXL) takes win at the Malaysia Technology Excellence Awards

The company is easing the loan application process for public servants.

Fintech developer MyAngkasa Az Zahra snagged the Digital - Financial Services trophy at the recently concluded Malaysia Technology Excellence Awards.

The inaugural awards event honours enterprises that take risks and lead the charge in developing groundbreaking projects, digital services, reimagined strategies, and technological initiatives. Winners were judged on the basis of uniqueness and innovation, effectiveness and impact, and dynamism.

In June 2019, Malaysian newspaper The Star published an article entitled “Syndicated Loan Scam,” highlighting the forging of salary slips, deducted payouts to loan applicants and confiscation of ATM cards involving a credit cooperative in the country.

Developed based on Digital Loan Revolution 2.0, the portal is an integrated online system, whereby application processing methods and approvals can be done quickly, efficiently, transparently and with integrity.

In a press release, Ms Kartini Mohd Basri, Chief Operating Officer of MyAngkasa Az Zahra, explained that all transactions conducted in Portal My AzZahra are recorded using Audit Trail function where the applicant and the cooperative can monitor all the processes in real time to guarantee transparency and confidence of both parties.

The system compliments and transforms the funding process environment to a fully digitalised process to encourage civil servants (borrower) to access the financing offer information easily, accurately and clearly.

“My experience is very good. I don’t have to go anywhere to apply the loan apart from the trip to Poslaju when applying for my loan,” according to one of the portal’s users.

Portal My AzZahra is capable of reducing excess burden in the overall process chain of financing, helping the ANGKASA workforce to provide the best service to its customers directly. The portal facilitates access to existing Angkasa credit ratings and salary deduction system through integration access. Through the portal, cooperatives can provide audit-compliant reports for financing activities and promote their products. Aside from easing the loan application process, Portal My AzZahra helped digitise forms and reduce paper usage.

MyAngkasa Az Zahra Sdn Bhd is a joint venture between MyAngkasa Holdings Sdn Bhd (a wholly owned subsidiary of ANGKASA) and Sukaniaga Sdn Bhd to develop, maintain and operate financial technology (FinTech) for the purpose of innovating activities financial activities of members of the cooperative movement in Malaysia

Watch the interview below to know more about their success:

The Malaysia Technology Excellence Awards, presented by Singapore Business Review, was held on 3 December 2019 at the Shangri-La Hotel in Kuala Lumpur.

This year’s nominations were judged by a panel consisting of Alvin SH Gan, Executive Director, Partner, Head of IT enabled Transformation (ITeT) at KPMG Malaysia; Yoon Hoong Hoh, Partner, ASEAN Digital Assurance Leader, Head of Diversified Technology and Communications Group at Ernst & Young; Justin Ong, Partner and FSI Financial and Regulatory Risk Leader at Deloitte Asia Pacific; and Hari Iyer, Executive Director, Advisory at BDO Kuala Lumpur.

If you would like to join the 2020 awards and be acclaimed for your company’s exceptional technology innovations, please email [email protected]