- November 26, 2020
- Posted by: Bastion team
- Category: Markets
- Capital C Corporation partners CityState Group to launch Capitall Auto Financial Services
- Capital C Corporation integrates more of National Digital Identity platform to meet underserved consumers with more user-friendly FinTech services
SINGAPORE, Nov. 26, 2020 /PRNewswire/ — Capital C Corporation (“Capital C“) announces its partnership with Citystate Group. The joint-venture, Capitall Auto Financial Services Pte Ltd., marks Capital C’s foray into Singapore’s auto-financing market. This builds up Capital C’s existing portfolio of financial services for individuals and businesses. With deeper integration to Singapore’s National Digital Identity platform initiative, Capital C is poised for more growth in the coming future.
Serving as a one-stop solution, Capitall Auto Financing Services provides financing for new and used vehicles, including the issuance of vehicle insurance for car and motorcycle owners. Car and motorcycle dealers too can access new lines of credit facilities, enabling them to stock up showrooms to meet immediate demand.
“We are very pleased to come onboard with Capital C to embark on this joint venture. Through our partnership with Capital C, we can bring greater convenience to our customers by making the application process for vehicle financing and insurance smoother and more accessible,” said Mr. Leow Tze Wen, Group COO of Citystate Capital Asia Pte Ltd and Group Managing Director of Citystate Group Pte Ltd.
“Our aim continues with empowering consumers and businesses with more alternative solutions through credit options, particularly for those who may not be able to do so with a bank. Our partnership with Citystate for Capitall Auto Financing Services is just one of the many initiatives. Our broader objective is to provide a wider range of holistic financial services to individuals as well as growing businesses and journeying with them,” said Mr. JJohn Cheow, Chief Investment Officer and Co-Founder, Capital C Corporation.
Accessible and Simplified Digital Onboarding
One of the biggest challenges involved in onboarding customers involves the turnaround time where background checks and credit scoring take a massive bulk of time and delays the ability to provide a credit loan to suit the needs of a customer.
Singapore is governed by a strong legal framework, with the heavy emphasis on identification and compliance. Working in this financial services industry means that eKYC (Know-Your-Customer) and MyInfo integration is central to Capital C’s technology infrastructure as a fintech institution.
By aligning with Singapore’s National Digital Identity initiative, the MyInfo integration allows Capital C to leverage on public-private sector efforts to build a better digital ecosystem for all. Harnessing real-time data points from government databases, credit bureaus and referencing it with historical data compiled in-house empowers Capital C to offer financial services that better fit the needs of our customers.
Customers can quickly input details where necessary, into pre-filled application forms containing their particulars. This process saves time and allows for much faster loan approval.
Empowering the Future of Finance
Capital C is reshaping misconceptions about how loans and credit facilities operate in the larger ecosystem of fintech and finance. Microfinancing is now safer, compliant and flexible to the needs of today’s evolving business environment. With friendlier and more accessible user experiences, clients can be onboarded quicker with fitting credit solutions to meet their specific needs.
Capital C will be expanding its suite of services in the coming future by incorporating more digitisation elements to revamp old impressions and perceptions of how financing can positively impact individuals, entrepreneurs and small businesses owners seeking growth.
“We are here to tackle specific inflexibilities and gaps within the customer journey through user-centric applications. The integration of MyInfo reflects our forward-thinking approach to this traditional industry. With each single step take, we create the opportunities to pick things up and lead with services that highlight our core-strengths in accessibility and reliability,” said Mr. Jeames Cheow, Chief Executive Officer and Co-Founder, Capital C Corporation.
About Capital C Corporation
Capital C Corporation is a holding conglomerate headquartered in Singapore that capitalises on fintech, as well as the best emerging technologies in the market, to provide financial services to the underserved in both Singapore and Southeast Asia. Through its subsidiaries, Capital C Corporation provides holistic financial solutions to the underserved, and invests in promising businesses to create value for its stakeholders and investors. Employing optimised work-streams, platforms and latest technological breakthroughs, Capital C Corporation maximises its operational efficiency. This has allowed Capital C Corporation to put focus on its specialised provisions which include strategic acquisitions, partnerships, as well as financial solutions to the underserved. Please visit: https://www.capc.com.sg.
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